NEW JERSEY REAL ESTATE PACKAGE DEAL

The type of deed that warrants only that the grantor has not impaired the title during the term in which he held it is referred to as. 1. Quitclaim Deed 2. General Warranty Deed 3. Bargain and Sale Deed 4. Bargain and Sale Deed, CAG - ️️Bargain and Sale Deed, CAG Taxes raised to pay ...

Broker - ️️One who buys and sells for another for a fee. Broker-Salesperson - ️️A qualified broker who practices real estate in the position of salesperson in another broker's office bureau of subsidized land sales control - ️️regulations covering out of state properties sold in N...

Who appoints the 8 members of the New Jersey Real Estate Commission? - ️️Governor Who makes the payments to a claimant from the Guaranty Fund? - ️️The state treasurer Agent Louis Lee is working with several people from his home town in Hong Kong. They sought him out because he speaks t...

Which of the following is a permitted free offering? o- A. A complimentary home warranty with every listing B. A coupon for a discounted commission on listing services C. A free dinner for attendees at a homebuyers' evening seminar D. Free use of a local moving van for all listings - ️️C. A...

1. Many states determine the order of water rights according to which users of the water hold a recorded beneficial use permit. This allocation of water rights is determined by: A. accretion. B. riparian theory. C. littoral theory. D. the doctrine of prior appropriation. - ️️D. All te...

BROKER - ️️The use of the term "Broker" refers to one who operates his or her own business. Any person or firm who, for a commission or other valuable consideration engages in listing, selling,buying, renting, negotiating, exchanging, or auctioning the real estate of others. BROKER-SALESPER...

C. an involuntary lien - ️️When a land owner uses his land as security for a loan, the encumbrance created is called. C. Question the seller to any known defects - ️️If an owner wants to list a property for sale "as is," the listing agent should A. licensee must hold a timeshare lice...

A tax assessor determined that a commercial building with a 3.5% mortgage has a market value of $400,000. If the assessed value is 60% of market value and the tax rate is 63 1/2 mills, what is the annual tax? A. $5,305.50 B. $8,837.50 C. $15,150.00 D. $25,250.00 - ️️C. 15,150.00 Which of...

a house contains screens, smoke alarms, and a crystal chandelier. the contract of sale mentions none of this items specifically. before final closing, the seller has the right to remove - ️️none of this items the amount of earnest money deposit is determined by - ️️agreement of the partie...

Three identical homes in a neighborhood were listed at the same time in a market where demand was constant. According to the law of supply and demand, which would have sold for the lowest price? - ️️The first sold. When compiling a competitive market analysis, a broker would look for comparab...

Mark, a licensed broker, procures a ready, willing, and able buyer for his seller-principal. The seller accepts the buyer's offer in writing. Just before the schedule closing, the seller has a change of heart and refuses to sell. Mark - ️️is entitle to collect a full commission A real estate...

1. A real estate licensee has a buyer agency agreement. What is the seller in this situation? A. a customer B. a client C. a fiduciary D. an agent - ️️A. There's an important distinction between client and customer. Unless there is a specific agreement to the contrary, licensees repr...

According to fair housing, which of these is not a protected class? A. muslim B. arab C. homosexual D. single mother - ️️C. homosexual The front door key to a house is: A. chattel B. fixture C. improvement D. trade fixture - ️️B. fixture The phrase "bundle of legal rights...