Colibri Real Estate Final Exam Study Guide with Complete Solutions
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Course
Colibri Real Estate
Institution
Colibri Real Estate
Colibri Real Estate Final Exam Study
Guide with Complete Solutions
buyer pays seller to occupy and use property - Answer-land contract
buyer pays rent and other expenses - Answer-net lease
buyer pays only rent - Answer-gross lease
Tenants in common, 2 of 3 people die. Who gets the property of ...
if listing is submitted to MLS, must notify customer within... - Answer✔✔-48 hours
Licensee must deliver Consumer Info Statement when... - Answer✔✔-at their next
meeting
a mortgage that covers 2 parcels of land - Answer✔✔-blanket mortgage
lease expires, tenants won't leave - Answer✔✔-tenancy at sufference
gas company intrudes on land to fix a gas line - Answer✔✔-easement in gross
signs the deed at a closing - Answer✔✔-the seller
least likely to require a legal description - Answer✔✔-listing agreement
agent takes on a listing, decides to buy house for themselves - Answer✔✔-let the
client know
Open house, declined agency relationship... What does the agent owe the person? -
Answer✔✔-honesty
leak in the house, seller is trying to hide it but the agent finds it - Answer✔✔-disclose
it to the buyers
agent switches brokerages, what happens to their listings? - Answer✔✔-listings stay
with brokerage
a seller wants a certain amount, the rest of the money goes to the agent as commission
- Answer✔✔-net listing
refusing to make loans in a minority neighborhood - Answer✔✔-redlining
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