45 Hour Post Licensing Exam (100% Accurate Answers)

A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they can buy a house for correct answers $300,000 What facts need not be disclosed in a real estate transaction? correct answers The property was the site of a homicide. What is a good graphic to show a seller that there will be more activity if the property is competitively priced? correct answers The pricing pyramid A home sells for $310,500. Expenses of the sale are $4,800. The brokerage fee is $18,630. Prorations for taxes and interest are $5,036. The mortgage payoff is $181,500. What are the seller's proceeds from the sale? correct answers $100,534 Filing a suit to quiet title is used when correct answers a title defect is found, which is difficult to remove by ordinary means. What are the benefits of restrictive covenants? correct answers Maintain and enhance value What's the downside for a principal who has a single agent? correct answers Responsible for the single agent's acts What is the likely cause of a contract for sale of real estate being ruled as unenforceable? correct answers Unwritten agreement Aside from a property's location, what is the most important factor that influences market value? correct answers Highest and best use The margin is correct answers the percentage added to the index of an adjustable-rate mortgage that results in the calculated rate. A home sells for $370,000. The mortgage payoff is $262,500. What is the seller's equity? correct answers $107,500 How often do mortgage loan originators need to have a criminal background check? correct answers Every year A written listing agreement with a self-renewing clause correct answers is void. When you explain the pricing process during a listing presentation, you would NOT ordinarily discuss correct answers the process of closing a sale. What are the three keys to prospecting success? correct answers Organization, numbers, and consistency