According to the principle Most homes are larger than the sale home
of progression, a three-
bedroom, one-story home
is MOST likely to bring the
highest sales price if
located in a neighborhood
in which
According to the Truth-in- Prepayment penalties and rebates
Lending Act, if any "trigger
terms" are used in an ad, all
of the following disclosures
MUST appear in the ad
EXCEPT the
An agency relationship A management agreement
between a property owner
and a property manager is
usually created by
An agreement to purchase An executory contract
that has NOT yet closed is
All of the following are Straight-line method
methods to calculate the
reproduction or
replacement cost of a
building EXCEPT the
,Although states make Prior appropriation
specific laws governing
water rights and the rights
in land that borders water,
most states generally follow
one of two basic doctrines
regarding water rights. In
many states, the common
law doctrine of riparian and
littoral rights dictates that
water rights are
automatically conveyed
with property. In others, all
water rights are controlled
by the state under the
doctrine of
The amount of commission Agreed upon by the seller and agent on the contract
to be paid is
An amount of money, Liquidated damages
agreed to in writing by
buyer and seller, that will
serve as full compensation
if one party does not live
up to a sales contract is
called
Antitrust laws prohibit Receiving compensation from both the buyer and the
competing brokers from all seller.
of the following EXCEPT
An appraiser MUST be $250,000
licensed or certified to
handle Federally related
work on residential
property valued at more
than
, At the closing on June 15, Debit seller $300; credit buyer $300
the buyer is assuming a
mortgage presently on the
property, on which the
monthly interest charge is
currently $600. The seller
has made the payment due
on June 1. Assuming a VA
mortgage, what is the
adjustment made at
closing?
At the time of harvest, Personal property.
crops that require annual
planting are generally
considered to be
At the time of listing, the Tell potential buyers about the parties
seller tells the listing agent
they are moving because
the neighbor has loud
parties every weekend. The
agent should
A borrower has defaulted Demand immediate payment of the entire note
on the mortgage. The
mortgage contains an
acceleration clause. This
permits the lender to
A broker has brought a The seller accepts the offer
ready, willing, and able
buyer to a seller. In MOST
listing contracts, the broker
has earned his commission
when
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