ASREB PACKAGE DEAL

A 3.45-acre lot sells for 50 cents per square foot. What was the selling price? a. $37,570 b. $75,141 c. $76,230 d. $78,712 - ️️b. $75,141 A blind ad refers to an ad that a. provides no price b. provides no address c. gives no indication that the property is listed with a broker d. gi...

Salesperson is working for a principal, but the salesperson exceeds authority in agreement. Principal does nothing to correct the actions, and the public is led to believe the actions were okay. Agency? - ️️Estoppel Amount stated in a purchase contract in case the buyer breaches is called: - ...

How are AZ property taxes charged? - ️️Ad Valorem What does Ad Valorem mean? - ️️Assessed Value How are Arizona Property Taxes paid? - ️️Levied once, Paid Twice When are AZ property Taxes Due? and Delinquent? - ️️Oct-Nov and March-May (O No More Money) Who do you pay the ...

When a deed in lieu of foreclosure is given to a lender, which of the following is true? - ️️Time and cost are less B buys land from W using a deed of trust as security for the carryback. B makes all the payments except the final three and is now in default. W does nothing and decides not to ...

A life tenant leases a property for 25 years to a major corporation. The life tenant dies ten years later. What is the status of the lease? - ️️Lease is terminated RATIONALE The lease is terminated. What law creates an automatic lien on a commercial property, subject to the listing agreem...

Recording easements do which of the following? Place an encroachment on the property Place an encumbrance on the property Place a lien on the property Places a deed restriction on the property - ️️Place an encumbrance on the property To pledge real property as collateral is called: Hypot...

When a person receives real estate through a will, this is called: Demise Bequest Devise Legacy - ️️Devise A quit claim deed would do which of the following: Remove a cloud on a title Deny the spouse an interest Verify the tax liability Establish a homestead - ️️Remove the cloud o...

An option to purchase is what kind of contract? Unilateral Bilateral Void Unenforceable - ️️Unilateral X made an offer to buy B's property. B accepts the offer under the condition that X moves in four days after close of escrow. What is the status of the contract? Valid Unilateral Cou...

A subdivider employés hostesses to show houses. The hostesses explain the features of the homes and gave the prices and terms. In this scenario: a. Only the sales broker needs to be licensed b. Hostesses are employees only and need not be licensed c. The hostesses must be licensed d. As long ...

Formula for finding property value when you have the net operating income and cap rate - ️️Current market value(CMV)= NOI/ cap rate Example: CMV=$5.480/ .08(8%) =$68,500 When would IRS form 1099S be used? - ️️Report sales price What's a 1099s forms - ️️Known as an "information r...

Attachments are generally considered_____and can be either____or____ - ️️real property, natural, or man made What are five test to determine what is or is not a fixture? - ️️M.A.R.I.A. Method of Attachment, Agreement, Relationship, Intent, Adaptability Property ownership is what two ba...

Within the Arizona Groundwater Code all of the following rights were created EXCEPT? - ️️Subdivision grandfather right What is required to give someone the right to sign your name? - ️️Power of Attorney The buyer has an investment that has a feature of "a pass through certificate" th...

a 3.45-acre lot sells for 50 cent per sq ft. What's the selling price? - ️️$75,141 (3.45 x 43560=150282 x .5 = 75,141) a blind ad refers to an ad that... - ️️Gives no indication that the property is listed with a broker A borrower is required to put 10% down for the purchase of a prop...