National PSI EXAM PRACTICE TEST Questions With Solutions
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Course
PSI
Institution
PSI
National PSI EXAM PRACTICE TEST Questions With Solutions
Real Estate law governing advertising applies to all of these EXCEPT:
A. In house notes for showing
B. Multiple listing service (MLS)
C. communications with consumers
D. Social Media A. In-house notes for showing are not seen by consume...
National PSI EXAM PRACTICE TEST Questions With Solutions Real Estate law governing advertising applies to all of these EXCEPT: A. In house notes for showing B. Multiple listing service (MLS) C. communications with consumers D. Social Media A. In -house notes for showing are not seen by consumers an so do not have to follow state or federal laws. A couple accompanies a property inspector during an inspection of a house on which they have a contract. The inspector points to a six -inch crack at the corner of a dining room window. The crack is an example of : A. A structural defect B. A patent Defect C. a latent defect D. an environmental defect B. A patent defect is easily visible when inspecting a property. (another) term for material) National PSI EXAM PRACTICE TEST Questions With Solutions An eligible veteran made an offer of $225,000 to purchase a home contingent upon obtaining a no-down payment U.S department of Veterans Affairs (V A) guaranteed loan. Three weeks after the offer was accepted, the V A issued a certificate of reasonable value (CRV) for the $222,000 for the property. In this case, the veteran may: A. withdraw from the sale with a three -point penalty B. withdraw from the sale on payment of a commission to the seller's broker C. purchase the property by making a $3,000 cash payment D. seek secondary funding for the $3,0000 C. When the purchase price of a property is greater than the VA -issued (CRV), the veteran may pay the difference in cash to purchase the property because secondary financing is somewhat restricted under V A regulations. General real estate property taxes levied for the operation of the government are called: A. special taxes B. ad valorem taxes C. improvement taxes D. special assessment taxes B. Under current Regulations, a U.S. department of Veteran Affairs (V A) loan is assumable if: National PSI EXAM PRACTICE TEST Questions With Solutions A. The V A approves both the buyer and the assumption agreement B. the veteran agrees not to request a releases of liability for repayment C. the V A approves the buyer only D. the V A approves the assumption of the agreement only A. for V A loans made after March 1, 1988 the V A must approve both the buyer and the assumption agreement before the loan may be assumed. During the period of time after a real estate sales contract is signed, but before title actually passes, the status of the contract is: A. executory B. voidable C. executed D. unilateral A. A contract is in executory status when its terms of agreement have not yet been carried out. If there is a discrepancy between a residential lot size quoted in a listing contract and the actual lot size, the actual lot size that will prevail in a sales transaction will be found in :
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