THE CE SHOP PRACTICE TEST SC REAL ESTATE; Questions and Answer 100% Solved
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CE Shop Course
THE CE SHOP PRACTICE TEST SC
REAL ESTATE; Questions and Answer 100%
Solved
When performing a market analysis, given the adjusted sales prices of three
comparables, which
comparable would you weigh most heavily?
-The one that had more upward adjustments than the others
-The one that requir...
THE CE SHOP PRACTICE TEST SC
REAL ESTATE; Questions and Answer 100%
Solved
When performing a market analysis, given the adjusted sales prices of three
comparables, which
comparable would you weigh most heavily?
-The one that had more upward adjustments than the others
-The one that required less adjustment
-The one with an adjusted sales price higher than the actual sales price
-The one with the adjusted sales price lower than the actual sales price ✔✔The
one that required
less adjustment
**The comparable that required less adjustment overall (including both upward
and downward
adjustments) will be the one most similar to the subject property. Therefore, it
would be weighed
most heavily.
, THE CE SHOP PRACTICE TEST SC
REAL ESTATE; Questions and Answer 100%
Solved
In South Carolina, the parties agree in the sales contract to a repair procedure
unless what
document is attached?
-Amendment to Repair Procedure
-Due Diligence Addendum
-Seller Disclosure Statement
-Waiver of Repair Procedure ✔✔Due Diligence Addendum
Without a buyer agency agreement in place, which party does the agent who's
assisting the buyer
represent?
-No one
-The agent
-The buyer
-The seller ✔✔The seller
, THE CE SHOP PRACTICE TEST SC
REAL ESTATE; Questions and Answer 100%
Solved
**If there is no agency agreement in place, the agent who's assisting the buyer
represents the
seller.
If special assessments apply to a property involved in a South Carolina sales
transaction, who's
responsible for paying the assessment?
-The brokers representing the buyer and seller
-The buyer, if the assessment is applied prior to closing
-The closing attorney
-The seller, if the assessment is applied prior to closing ✔✔The seller, if the
assessment is
applied prior to closing
**The sellers are responsible for paying any special assessments applied before
closing, and the
, THE CE SHOP PRACTICE TEST SC
REAL ESTATE; Questions and Answer 100%
Solved
buyers are responsible for any that are applied after closing.
Mark is a seller who prepaid his property taxes. What happens to the amount he
prepaid and
won't benefit from when he sells?
-He'll receive a credit at closing.
-He'll receive a debit at closing.
-The buyer must repay this amount when the next property taxes are due.
-The excess funds are deposited into the state's Widows and Orphans Fund.
✔✔He'll receive a
credit at closing.
**Prepaid items are credited to the seller at closing. Accrued but not yet paid
items are credited
to the buyer at closing.
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