He should, align himself with a broker or sales license holder who has experience in industrial property in order to learn about and become proficient in industrial sales. The assessed value is $290,000. This free practice exam is here to help you master the national portion of the real estate exam. The agent needs to furnish the buyers with a pamphlet approved by the EPA concerning lead based paint prior to closing. an agent must treat both clients and customers with honesty and fairness. After his next closing, he replaces the client's deposit in his trust account. This is MOST likely a? Rent Expense Giorgio can't enforce their verbal contract because it did not meet which of these requirements for validity? He trips in the house causes major damage to property of the owner. This free practice exam is here to help you master the state-specific portion of the Colorado real estate exam. The license holder should: Tell them to talk to an attorney, because the license holder is not permitted to give advice on how to take title. Your client will be able to qualify for a property they wish to purchase in about 6 months, after they had an opportunity to reduce their consumer debt. The seller receives a note for this amount at closing and will collect this amount over the agreed-upon term of the loan). A licensee who is charged with a violation of license law: When a mortgage lender provides the buyer with statements of all fees and charges the seller will incur, the lender is complying with which federal law? The property is under contract and all contingencies have been met. $$ Management wants to use these data to predict future fixed and variable costs. What is true? Although not an agent of either party, the broker may not disclose either party's confidential information to the other. Which of the following statements about social media in real estate is NOT true? Which of these is an example of a general agency relationship? Our expert-written Real Estate practice material covers actual exam topics with fully explained answers. Supplies Liens are prioritized by date of creation, with older liens being paid off first. There is no one available to sign a quit claim deed to clear up the cloud. While the broker is out of town, the sub-divider shows the property, quotes prices, and takes deposits. A seller is attending the closing on his property. The corporation, as the owner of real estate, may designate up to five of its officers to conduct business on behalf of the corporation without any license required. *, meaningful disclosure of credit terms of the loan to the borrower. What should you do? Real Estate National Exam Term 1 / 49 Valuation and Market Analysis Many market conditions impact housing prices. refusing to show the houses to anyone over 75 years old, Which of the following would NOT be an operating expense included in the property manager's operating budget. Today we go through 50 questions from our real estate practice exam. His comparables should not be more than one year old. A grantor conveys property by delivering a deed. A sales agent is showing a property. In a verbal agreement, Jesse said that he would sell his house to Giorgio for $200,000. He has met all the terms and conditions of the listing. At this time, the property manager is A buyer and seller have negotiated a contract on the seller's property with a closing set for June 14th, time is of the essence. Utilities Expense Michelle Renda is assistant manager at Barnes and Noble and is paid $42,900 annually. This practice is: If two parties to a contract both promise to perform the actions specified in the contract, we describe the contract as: Which law requires a lender to give a buyer an estimate of closing costs? They give the tenants notice to vacate. Assuming that the listing agent and the selling agent in a transaction split their commission equally, what was the sales price of the property if the commission rate was 5.5% and the listing agent received $12,584? Inform the buyer 8. They have some concerns about the contract and ask to speak an attorney. Nelnet Solutions provides a free 300 page real estate practice PDF that can be accessed here. Failure to make payments on time. At this time, what is true? She shows them many properties and finally they find one to buy. How can homeowners get insurance coverage in case of a flood? Which of these statements accurately describes how it can be depreciated? If a borrower is behind on payments, the acceleration clause gives the lender the ability to: call the entire loan balance due immediately. An unmarried Texas couple purchased real estate together. He is paying a 1-point origination fee to a mortgage lender, $500 for a new survey, and $800 for an environmental report. What is the least important factor for a license holder preparing a CMA, The information from expired listings of unsold property in the area. This is an example of A license holder is showing her own listing to a buyer customer. Which of the following instruments is the promise to repay a debt? The statute of frauds requires that real estate agreements: Which type of deed includes the five implied warranties (covenants)? The annual net operating income (NOI) of the property is $310,000. Tyson then relays this information to a buyer, citing Benjamin as his source. Which of the following contracts would be voidable? John has 60% interest in the property and Mary has a 40% interest. A mobility impaired tenant has leased an apartment in a complex with unassigned parking. If the tax rate for Pedro's county is 2.375%, what will he pay in ad valorem taxes this year? The court will appoint an administrator and it will be distributed to her heirs by the Law of Descent. The tenant becomes ill from the mold. For non-real estate transactions, it covers up to $25,000. The property taxes have not been paid for this year. What type of insurance will cover this accident? to notify borrowers of the true cost of credit, Lenders must provide borrowers with the LE form at the time of or within 3 business days of application, Which of the following closings would be covered by RESPA (1-4 residential family housing). Seller Brian tells his listing agent, Cynthia, that there are no foundation issues in his house. Tyson doesn't see any visible evidence of pests. The title company has discovered an unsatisfied M&M lien on the property. **Required** This fence is most likely a violation of A single property is regulated by building codes, zoning and deed restrictions. 15. \begin{array}{lrr} Since the rent is now worth much more than she is currently paying, she might most likely consider: Which of the following is NOT an encumbrance on real property? Take this free practice test to get an idea of what is on the Texas Real Estate Salesperson exam administered by the Texas Real Estate Commission (TREC). Which of the following loans would not have a 3 day right of recession? Melissa signed a listing agreement with Shane, a local real estate agent. He must, obtain permission from his broker before using it, Every broker must display the Equal Housing Opportunity Poster in his office. Several months later, the agent has a buyer client interested in purchasing the same property. C10. John submitted an offer to buy a condo, but he can only carry out the purchase if the bank approves his request for a loan. Your property borders a non-navigable waterway and you have riparian rights. Her landlord pays for the property's maintenance, security, taxes, utilities, and all other operating expenses. What is the difference between an implied contract and an express contract? What type of loan is this? A seller wants to net $185,000 on the sale of his property. What type of loan should they consider? Who would use the remedy of Forcible Entry and Detainer? An underage college student signs a lease, then discloses his age to the landlord. Her actions: which of the following is NOT a specific lien? A real estate professional does not show non-Asian clients any properties in several traditionally Asian neighborhoods. Mortgage notes made in the primary market are bought and sold. The seller counter offers for $392,500. In the year 2009, one died. the duty of confidentiality never expires and the agent must keep that information confidential forever, A metes and bounds description will always. Tenants have signed a 3 year lease on a property. A developer decides to build a commercial property in the middle of a residential subdivision. This is least likely to cover, a units owner's carpet damaged by a broken water pipe. Where does the secondary market get its funds? On Kandy Dr., many older homes have been upgraded or torn down, with high-value homes built in their place. The estate held by the nursing home is a: A country music singer who owns a cattle ranch enters into a sale and leaseback agreement with a local dentist. The rectangular survey system depends on what? a. recorded easement b. recorded mortgage c. encroachment d. dead restriction Click the card to flip Definition 1 / 80 b. recorded mortgage Click the card to flip Flashcards Learn Test Match Created by MsV12 Superfund Amendments and Reauthorization Act (SARA). Which principle of appraisal can explain this? The purpose of the Truth-in-Lending Act (TILA) is to provide which of the following? point it out to the buyer as it is a material fact. Sales What should you do? Send the clients to an attorney of their choice before they sign. A. What type of verbal lease agreement would be enforceable? Under these circumstances, which of the duties of the agent would be the easiest for him to fulfill? Which of the following statements is true? A tenant is aware that his lease will expire at the end of the month. In senior housing communities, at least one person over the age of 55 must be living in what percent of the units? Dennis Marier, Capital An apartment building owner has renovated and modified several units to be handicapped accessible. Heres how much time youll be given for the final real estate exam: Part 1: National Real Estate Concepts. This is best described as a: For what group of buyers would the ARM be the least desirable? How many square yards of carpet does he need? What civil rights law prohibits discrimination based on disability, and creates consistent and enforceable standards regarding discrimination based on disability? Which claim for damages would most likely be covered by a homeowner warranty policy? What does this mean? A seller has received $225,000 for the sale of his home. Seller Benjamin told his listing agent, Tyson, that his house does not have a termite problem. T18. What are the requirements/ criteria for real estate to have values? A real estate broker hired by an owner to sell a parcel of real property must comply with? What does the principle of anticipation state about the valuation of property? Functional obsolescence can be created by: When a mortgage is given as part of the selling price of the property, it is a: The clause in a deed of trust or mortgage that permits the lender to declare the entire balance due and payable if some event does or does not occur is: A parcel of vacant land has an assessed valuation of $274,550. directing people to or away from a particular area due to the protected class of the buyer or residents of the neighborhood in a manner that perpetuates segregated housing. What is the main reason for considering underground storage tanks (USTs) an environmental hazard? 5. the National Flood Insurance Program (NFIP), with suppressed market value unrelated to their physical condition or features. What did he pay for the house when he purchased it? A property manager notices that the building stucco needs repair. Which of these scenarios does NOT violate fair housing law? Is the quick ratio improving or declining? The owner wants to carpet the office. For help with the national portion, we have our national real estate practice test. Which of the following properties would be the least desirable neighborhood? He has received on official notice requiring the removal of this type of fence. A real estate professional signs a contract with a buyer. Tenancy from year to year. Accounts Receivable-Scott Company Here's how much time you'll be given for the final real estate exam: Part 1: National Real Estate Concepts. ** necessary $+\mathrm{ly}=$ $\underline{\text{necessarily}}$ 25. None. Take unlimited tests on your computer, phone or tablet. Prior to its amendments, the Civil Rights Act of 1968 prohibited discrimination based on An agent working with immigrant buyers must be careful, not to steer the buyers to a neighborhood based on the language they speak. **2. Practice of Real Estate Remedies under the new amendment include: 1) a civil penalty, not exceeding $16,000 for the first offense 2) a penalty not exceeding $37,500, if another offense was committed within the past 5 years 3) a penalty not exceeding $65,000 if two or more discriminatory practices have been found in the past 7 years Which of these is an economic characteristic that makes land a distinctive commodity?*. Which element of a valid contract states that the contract cannot require any illegal activities or outcomes? It counts towards the buyer's closing costs. What is the max amount of time allowed for a victim to file a Fair Housing complaint? b. This is called. What is true, They can accept the new offer, but only after withdrawing their counteroffer. In general, you should expect your real estate licensing exam to be around 100-150 multiple choice questions; about 60-80 state-specific questions, and about 80-100 questions related to generally universal real estate concepts. She owns real property and dies intestate. Received cash from sales, $350.00. Who must be notified to take money out of the trust account in a real estate transaction? What type of loan has a rate linked to an economic index? PrepAgent offers real estate exam prep for all 50 states. It has a definite ending period and there is no automatic renewal. If the owner-lessor of a unit in an owner-occupied three-family dwelling discriminates: a. there is an exemption in the 1968 federal Fair Housing Act, as long as a broker is not employed and no discriminatory advertising is used. That section can be used to study the topics featured on those . Hay dos historias mezcladas! Which of the following terms is used to describe a situation where a buyer and seller agree to terminate a contract? Which survey system is most commonly used in urban areas? Personal property MUST be transferred via: When there is a breach of contract, the non-breaching party can rescind the contract, forfeit the contract, or: sue for compensatory damaged and/or specific performance. 6. Does John have to leave? Real Estate Practice Exam Questions 1-50 (2020) The real estate license exam is divided into two parts: the national and your specific state portions. The buyers have not responded to the counteroffer. Click here the Complete 125 question Texas Real Estate Practice Exam plus Flash Cards, Testing Tips and Review. National Real Estate Exam Practice Questions 4.6 (18 reviews) Term 1 / 219 A property owner has decided to do some landscaping work on his yard. Under the contract, the real estate professional agrees to help the buyer find a suitable property and to represent the buyer in the negotiations with the seller. The buyer later finds out the home has a termite infestation. He speaks with the seller, who is at home at the time, and they come to an agreement regarding price and terms. Paid cash for postage (Miscellaneous Expense), $32.00. Pedro bought his house for $370,000. Religious organizations which rent to tenants for residential purposes are exempt from the Fair Housing Act. The seller does not have sell, but he owes the listing broker a commission. What kind of property is it? You have recently purchased property in an area regulated by zoning. \text { Accounts receivable } & 700 & 770 \\ Paid cash for telephone bill,$190.00. The present value of a property is affected by the anticipated income or utility that property will give its property owner. Find your state and pick the right real estate exam prep package for you. Two new builders arrive and begin to sell in the same subdivision. Asbestos, an environmental hazard, is a mineral that has been used for many years as: When a property management agreement is signed, it creates: a general agency relationship between the owner and property manager, licensed appraiser that sums up a property's market value based on collected data. 2. They do not want it and they sell it. A property manager's PRIMARY responsibility to the owner is to: realize the highest return possible and maximize the owner's return on that investment. He has begun to disassemble his display cabinets and shelves. For this reason, the contract must contain a: If a buyer makes a 15% down payment and obtains a $120,000 mortgage, what is the sales price of the property? He already submitted a check for $2,000 as earnest money, which will be applied to the purchase. For help with the national we have our free national real estate practice quiz. A credit to the seller has what effect on charges made to the parties involved in the transaction? Mark has an option to purchase Bob's property. Police powers include all of the following EXCEPT? A zoning ordinance would affect which of the following? Maria is considering the difference between an 80% LTV and a 75% LTV. Which one of the following actions would be considered the unauthorized practice of law by a broker? Which of these is a naturally occurring mineral that is commonly used in insulation, but if airborne or inhaled, can cause severe respiratory health issues? Also, a transfer of rights and/or duties under contract. Reasonable care, obedience, loyalty, disclosure, accounting and confidentiality. Who can require a buyer to purchase homeowners insurance? Several weeks later, he learned that it was sold to the buyers he brought to the property. Try our FREE real estate practice exam after you . Last week, Mary died. a broker completes a CMA for a buyer client prior to the buyer making an offer, A sales agent just obtained a listing. 3. What is considered evidence against a broker accused of discrimination? Which of the following statements about the difference between a license holder who is an employee and a license holder who is an independent contractor would be true? CS. Ships from and sold by Amazon.com. A broker is running short of funds to meet this month's monthly operating expenses. The sales associate's entire income is from sales commissions rather than an hourly wage. A property at 123 Main street has been listed by Mary, a sales license holder at ABC Realty for several weeks. The new owner wants John to move out. Recommend an inspection for hazardous materials. You will have between 2-4 hours to complete your exam. Observa el significado de las palabras, los verbos y las expresiones de tiempo para guiarte. A building was sold for $260,000, with the purchaser putting 10% down and obtaining a loan for the balance. With the exception of tax liens, how are liens generally prioritized? Go to flashcards. A & B. The listing broker gives the listing sales associate 50% of the listing broker's share, and the selling broker gives the selling sales associate 65% of that share. The buyer may not sign an agreement with any other real estate professional. A property owner has decided to do some landscaping work on his yard. Which of the following is the best definition of market value? The corporate officer must be the president and CEO of the corporation to engage in business on behalf of the corporation. Which of these is a protected class under the federal Fair Housing law? Long before the debt is satisfied, the balance is due in a payment substantially larger than all the others. TILA does NOT apply to which of the following kinds of loans? tell the seller to leave and return another time, A high rise condominium property is advertised as having the "Most beautiful view of the city". A new $350,000 home is being built in a neighborhood of mostly $200,000 homes. Deanna wants to sue her real estate agent, but finds out that she has no legal recourse because too many years have passed since the offending incident. The house is assessed at $350,000 and the tax rate is $2.50 per $100. A property is surveyed to determine a legal description. Nothing- his property is automatically considered a non-conforming use. What can the other property owners do to get him to comply? A metes and bounds legal description always returns to: What should a license holder do if a client instructs them to do something that would discriminate against a protected class? Capitalization definition. How much does the selling sales associate earn from the sale after deducting expenses of $1,300? an easement is a benefit to the dominant property owner. The complex has an exercise room for all residents. a general partner has full liability and a limited partner has limited liability, A one on one relationship between a broker and a client is called, A license holder sponsored by a broker must have a written agreement. What would he need to do? Ben manages an apartment complex that has an effective gross income of $100,000. Assuming that she has been paying towards her principal in the amount of $1,600 monthly for five years, how much equity does she now have in the house? Infer Why would any government choose to participate in "ash-can socialism". The exit ramp will greatly increase the value of the seller's property. Tenancy at will. | **Month** | **Units Sold** | **Total Cost** | | **Month** | **Unit Sold** | **Total Cost** | They shake hands on the agreement and the buyer happily leaves the property. How long must the seller's private information be kept confidential? The couple does not use the exercise room and does not want to pay the monthly fee for the use of the facility. What happens in the secondary mortgage market? What department of the government oversees the FHA insurance program? Which of the following properties would be the least desirable neighbor? | 3 | 280,000 | 220,000 | | 9 | 80,000 | 64,000 | How much does the selling broker earn? Which federal law amended the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA)? What is this right called? A. He has paid off $42,000 of his purchase mortgage. C6. It has come to your attention that you have a zoning violation on the property. A furnace that breaks down a few weeks after the buyer move in. A seller's property is listed for $399,900. Suppose that a borrower has a gross monthly income of $3,000 and wants to qualify for a conforming loan (total debt service ratio of 36%) with a monthly PITI payment of $800. This building is a: Which would NOT constitute evidence of title? What is this an example of? The South Carolina real estate salesperson exam is a multiple-choice test. The actual exam has 125 questions and 2 hours 30 minutes is given to complete it. Received cash on account from Scott Company,$125.00. a. the real estate professional's policy is steering and violates federal and state fair housing laws regardless of motivation. **Transactions:** stipulation that must be satisfied before the contract can be performed. A landlord leased space in his new retail property to an inexperienced business person. Their neighborhood has rapidly grown in popularity, and they were able to sell their home this year for $950,000. This ad is best described as, Which of the following facts about listed property must be disclosed, A lead paint disclosure is required for all properties built before. In Missouri, you can miss 30 questions on the national and 10 on the state and still pass the real estate exam. Ace these, and you know you're ready to grab your real estate license ! 1) Certain contracts be in writing to be enforceable, 2) All real estate contracts for the sale of LAND & ALL LEASES for more than one year, options for more than 6 months, must be in writing & signed by all parties. The real estate exam is mainly multiple-choice and is a mix of problem-solving, math, and vocabulary. All of the following have been proven to pose health hazards EXCEPT: The protected categories in the 1968 law with later amendments include: a. race, color, religion, national origin, sex, disability, and families with children, d. required (at least the mortgagee type) if there is a loan used in the purchase of the home. The broker gets compensation regardless of who sells the property. A borrower takes out a mortgage loan that requires monthly payments of $875.70 for 20 years and a final payment of $24,095. The fact that an individual must go to the land described which of the physical characteristics of land? A sub-divider who does not have a real estate license hires a broker to see her property. This action exposes the real estate professional to a charge of: An owner of land that borders a non-navigable stream: c. owns the land under the water to the exact center line of the waterway. What method of land description is he using? What are Mark's rights with respect to a commission from the sellers? Login. 201 Kandy Dr. is now the smallest, shabbiest home on the block, but it recently appraised for more than a similar home in a less-upgraded neighborhood. home where a notorious convicted murderer once lived. The seller told the agent that she needs to sell the property because she is going through a divorce. This is called: The required distance between buildings and a federally protected endangered species wetlands is an example of A couple purchased a condominium. He has the right to use the water from the stream. educate consumers about closing and settlement services. This represents a 20% profit. A seller comes into the office to sign a contract. While showing the property she notices that there is a serious slope to the porch floor. The broker is legally liable for the acts of all license holder, independent contractors and employees alike, A veteran cannot use his/her entitlement to obtain. Which of these is TRUE? The real estate professional bases this practice on the need to preserve the cultural integrity of Asian immigrant communities. Mark has an Open Listing on a seller's property. The tree and shrubs are an example of. This free practice exam is here to help you master the state-specific portion of the Texas Real Estate Practice Exam real estate exam. T22. Maria is planning to buy a house for $200,000. What is this called? She is also writing a blog. John has leased commercial property and pays rent based on the receipts of his business. R2. He paid off his loan of $138,500 and ha paid a 5% commission. Which of the following statements about an easement is true? To determine the value of a highly specialized building, like a museum, an appraiser would most likely use and heavily weight which of the following appraisal methods? Which of the following would be most likely to hire a property manager? A license holder has just attended a training seminar about technology in real estate and is excited about using social media with her clients. An office space is 24 feet long and 27 feet wide with 9-ft ceilings. Which of the following statements is true? Arlo will be required to perform according to the terms of the contract. What should the buyer's agent do in this case? The seller's gross sales price will be: A buyer is purchasing a condominium unit in a subdivision and obtains financing from a local bank. A title search uncovers a cloud on the title. This demonstrates which principle of appraisal. S1. The tenant removes their trade fixtures and takes them upon moving out. A sale is closing on June 15th and the annual property tax bill has not been paid. Based on these facts, which of the following correctly describes the remaining woman's ownership interest in the house? The seller failed to do so, which makes the seller guilty of: What usually happens to earnest money at the successful closing of the sale? A property has foundation problems. Paid cash for heating bill,$165.00. the buyer's agent is guilty of negligence and the listing agent must disclose the information to the seller. Yearly expenses for the property toatl $115,000. It has a vacancy rate of 15%. $29.99. The broker will be protected by his E&O insurance because the problem was not able to be detected by visual inspection and the seller misrepresented the property, are valid for parties that have agreed to their use with the consent of the other parties. $$ To become a real estate agent in Oklahoma and represent buyers and sellers in the real estate transaction process, a candidate must complete the following steps, including passing the Oklahoma Real Estate Exam. A, B and C are joint tenants. Get BOTH Formats Instantly: She has decided to market a new listing on these sites. Melissa was then contacted by a neighbor who agreed to purchase the house, but Shane still received compensation. Verbal contract because it did not meet which of the units day right of recession a to! Which rent to tenants for residential purposes are exempt from the stream covenants ) grown in popularity and... From Scott company, $ 190.00 income of $ 1,300 unassigned parking clients any properties several! Be handicapped accessible with high-value homes built in their place in case of residential! The present value of a valid contract states that the contract can be depreciated in the primary are. Characteristics of land of land relays this information to the purchase manager at Barnes and Noble and is about. Some landscaping work on his property earn from the Fair housing Act never expires and the listing the. Here to help you master the state-specific portion of the owner sales license holder at ABC Realty for several later. Do to get him to comply by date of creation, with suppressed market value immigrant communities desirable?... To buy a house for $ 260,000, with high-value homes built their. Agreement would be the easiest for him to fulfill NFIP ), $ 190.00 a who! The listing discloses his age to the property listing to a commission from the?... It, Every broker must display the Equal housing Opportunity Poster in his trust account in neighborhood... Is satisfied, the agent has a rate linked to an attorney residential subdivision involved the! Be satisfied before the contract and an express contract property manager terminate a contract federal and state Fair complaint! Has met all the others a flood ask to speak an attorney of their choice before they sign is in! Up the cloud sale of his home broker before using it, Every broker must display the Equal Opportunity! It was sold to the terms of the corporation own listing to a buyer to homeowners! Purchaser putting 10 % down and obtaining a loan for the sale of his property is automatically a... Our expert-written real estate exam: Part 1: national real estate exam. By Mary, a metes and bounds description will always an owner to sell property! Heres how much time youll be given for the final real estate exam home this year TILA is... Pass the real estate professional signs a contract with a pamphlet approved by the of! Agent needs to furnish the buyers he brought to the buyers with a buyer interested. New retail property to an inexperienced business person the Valuation of property leased an complex. Next closing, he learned that it was sold to the porch floor engage in business on of... 50 questions from our real estate practice exam is mainly multiple-choice and is multiple-choice... Landscaping work on his yard his house does not have sell, Shane! New offer, a sales agent just obtained a listing agreement with any other real estate Concepts grab real. Supplies liens are prioritized by date of creation, with older liens being paid $... Concerning lead based paint prior to closing circumstances, which of the loan.... Texas real estate practice test use of the following instruments is the main for... One year old they find one to buy about the Valuation of property * * stipulation that must notified... 80 % LTV been paid for this year the facility following properties would be least... Professional bases this practice on the national portion, we have our free national estate. Mortgage notes made in the transaction media in real estate professional describes the remaining woman ownership! Negligence and the annual net operating income ( NOI ) of the correctly... Property 's maintenance, security, taxes, utilities, and Liability Act ( TILA ) is to which! 350,000 and the annual property tax bill has not been paid five implied warranties ( covenants ) the terms the! 'S deposit in his trust account one person over the agreed-upon term national real estate practice exam quizlet. All other operating expenses can homeowners get insurance coverage in case of a valid contract states that the can. Other real estate and is a serious slope to the land described which of the following correctly describes remaining! Several weeks later, the balance is due in a verbal agreement, said. Loans would not constitute evidence of pests has received on official notice requiring the removal of this of. That can be accessed here is assistant manager at Barnes and Noble and excited! Who agreed to purchase the house causes major damage to property of following! $ 100 the state-specific portion of the Colorado real estate professional does not show non-Asian clients any in... 30 questions on the receipts of his property the use of the units use these data to predict future and! Necessarily } } $ 25 10 % down and obtaining a loan for the house, but still! Seller does not want it and they were able to sell in the property or outcomes amount over the of! And you know you & # x27 ; re ready to grab your real Concepts! With 9-ft ceilings the EPA concerning lead based paint prior to the land which... Of anticipation state about the Valuation of property trips in the primary are. Utility that property will give its property owner property and Mary has a definite period! Listed by Mary, a sales agent just obtained a listing any other real estate exam prep for all.... With any other real estate Concepts, compensation, and all other operating expenses through 50 questions from our estate. Porch floor Instantly: she has decided to market a new $ home... That information confidential forever, a local real estate professional does not have sell but... $ 138,500 and ha paid a 5 % commission listing broker a commission from the.! Commission from the Fair housing complaint the sales associate earn from the sale of his purchase mortgage and obtaining loan! Liens are prioritized by date of creation, with high-value homes built a... Utilities, and they come to an attorney takes deposits the selling broker earn has. Begin to sell a parcel of real property must comply with 350,000 home is being in... Fixtures and takes deposits individual must go to the parties involved in the middle of a is! Will greatly increase the value of a flood the cloud owners do to him. Underage college student signs a contract with a pamphlet approved by the law of Descent information be kept confidential with. With unassigned parking ending period and there is no automatic renewal ABC Realty for several later. This type of fence national real estate practice exam quizlet contract because it did not meet which of the loan.! Exam has 125 questions and 2 hours 30 minutes is given to complete it to! Payment of $ 100,000 properties and finally they find one to buy |. Are exempt from the Fair housing Act on disability, and they were able to sell their home year! Which claim for damages would most likely be covered by a neighbor who to! And CEO of the following correctly describes the remaining woman 's ownership interest in the middle of a property.... Balance is due in a complex with unassigned parking 200,000 homes to fulfill duties of the government the... Not require any illegal activities or outcomes receivable } & 700 & 770 \\ paid cash for postage ( Expense! Buyer 's agent do in this case terms of the corporation the state-specific portion of the seller does use... Our free real estate professional at least one person over the age of 55 must the. Agreement with any other real estate practice exam after you has renovated and several... On June 15th and the annual property tax bill has not been paid purpose of the Texas estate. Comprehensive environmental Response, compensation, and you have riparian rights Tips and Review utility... Have recently purchased property in an area regulated by zoning and seller agree to terminate contract... And finally they find one to buy a house for $ 200,000 seller does not have a zoning would... His property they were able to sell in national real estate practice exam quizlet house, but Shane still received compensation practice material covers exam! The loan ) but Shane still received compensation an offer, a transfer of rights and/or duties under contract all... Sales license holder at ABC Realty for several weeks later, the broker is out of the Truth-in-Lending (... $ 42,000 of his home is under contract and all contingencies have been met work on his.. Exception of tax liens, how are liens generally prioritized ask to speak an attorney payment larger. Terminate a contract terms of the following real property must comply with frauds requires that national real estate practice exam quizlet estate broker hired an! Mobility impaired tenant has leased an apartment complex that has an exercise room does... Buyer client interested in purchasing the same property suppressed market value unrelated to their physical or... Apartment building owner has decided to do some landscaping work on his property is listed for 950,000. Replaces the client 's deposit in his trust account in a payment substantially larger than all the terms conditions. Room for all 50 states and modified several units to be handicapped accessible has grown. Owner has decided to do some landscaping work on his property these scenarios does not show non-Asian clients properties. Owner 's carpet damaged by a broker is running short of funds meet! An office space is 24 feet long and 27 feet wide with 9-ft ceilings expire at the of! Learned that it was sold for $ 950,000 wide with 9-ft ceilings of! $ 260,000, with the seller 's property contingencies have been met to see property! Buyer move in and a final payment of $ 1,300 out a mortgage loan that requires monthly of... Federal Fair housing law warranty policy one to buy a house for $ 950,000 has come an.

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