Colibri Real Estate Final Exam Questions and Answers 2024/2025
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Course
Colibri Real Estate
Institution
Colibri Real Estate
buyer pays seller to occupy and use property
→ land contract
buyer pays rent and other expenses
→ net lease
buyer pays only rent
→ gross lease
Tenants in common, 2 of 3 people die. Who gets the property of those who died?
→ goes to heirs
Joint Tenancy, 3 of 4 people die. Who gets pr...
telling homeowners that property values will be declining because of ethical/racial makeup is
changing
→ Blockbusting
real estate put to its highest use
→ flat, paved parking lot
"This is the most prestigious street in town"
→ puffing
maximum fine for first offense
→ $5,000
an individual advertisement needs...
→ name and broker
a brokerage advertisement needs...
→ statement that they are licensed
if listing is submitted to MLS, must notify customer within...
→ 48 hours
Licensee must deliver Consumer Info Statement when...
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