PSI NJ Real Estate Exam New Exam Questions And Correct Answers Already Graded A +.
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Course
PSI NJ Real Estate
Institution
PSI NJ Real Estate
PSI NJ Real Estate Exam New Exam Questions And Correct Answers Already Graded A +.
The Department of Housing and Urban Development estimates that most private homes built before 1978 contain potentially dangerous levels of lead. Because of this, some Federal agencies, such as FHA, - ANSWERRequ...
PSI NJ Real Estate Exam New Exam Questions And
Correct Answers Already Graded A +.
The Department of Housing and Urban Development estimates that most private homes
built before 1978 contain potentially dangerous levels of lead. Because of this, some
Federal agencies, such as FHA, - ANSWERRequire the buyer to acknowledge
disclosure of the presence of any known lead paint.
At the time of listing, the seller tells the listing agent they are moving because the
neighbor has loud parties every weekend. The agent should - ANSWERtell potential
buyers about the parties. (Any social information expressed to an agent can be shared)
A major reason for buying and owning a condominium rather than a detached single-
family home is that - ANSWERa condominium tends to be more affordable.
A buyer was negotiating the purchase of a house for himself. During a conversation with
the seller, the seller agreed to include all kitchen appliances in the sale, and this fact
was included in the sales contract. In this situation, if the seller takes the appliances
with him, what recourse does the buyer have? - ANSWERThe buyer may sue the seller
for specific performance.
The terms "littoral," "riparian," and "appropriative" refer to... - ANSWERwater rights
A salesperson lists a property with a contract that allows for subagency and dual
agency. The salesperson is - ANSWERan agent to the broker and a subagent to the
principal.
Depreciation is calculated based on the - ANSWERCost of the building only.
When a property owner uses his home as collateral for a loan and creates a lien in favor
of the lender, title is held by the - ANSWERmortgagor
, A competitive market analysis is MOST often used for - ANSWERsetting a listing price
A seller tells the listing agent that her home was treated for termites 10 years ago, so
there are no termites now. Before listing the property, the agent should - ANSWERtell
the seller not to disclose, because the statute of limitations has run out.
All of the following are methods to calculate the reproduction or replacement cost of a
building EXCEPT the - ANSWERstraight-line method
The buyer is assuming a mortgage presently on the property in the amount of $110,000.
What is the adjustment made at closing? - ANSWERCredit buyer $110,000; debit seller
$110,000.
If conditions for purchase are included in a deed and these conditions are violated, what
is the penalty? - ANSWERReturn of the property to the original owner.
The purpose of requiring an earnest money deposit in a real estate sales contract is to -
ANSWERprovide evidence of the buyer's intention to carry out the contract.
A judgment has been properly recorded. Any subsequent purchasers, whether they
have actually examined the record or not, have been given - ANSWERconstructive
notice
What type of map is MOST useful for describing the terrain of a very hilly lot? -
ANSWERcontour map
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