REAL ESTATE 3100 final review Questions and Verified Approved Answers Graded 100% A +
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Course
Real Estate
Institution
Real Estate
$140 is 3.5% of what amount - CORRECT ANSWER -Remember to always divide to find
the value or rate, so in this case, $140/.035 = $4,000.
3 people own a property as joint tenants. One of the joint tenants dies. How is the property now
owned? - CORRECT ANSWER -The 2 remaining joint tenants now ...
A buyer purchases a furnished condominium apartment as an investment. The document that
evidences the buyer's ownership of the furniture is a: - CORRECT ANSWER ✔✔ -Bill of Sale
A buyer received an 80% loan. if an annual interest rate was 4.5% and the monthly interest paid
was $790 what was the total sale price? - CORRECT ANSWER ✔✔ -$263,333
$790 × 12= $9,480
$9,480 ÷ .045= $210,667
$210,667 ÷ .80 = $263,333
A buyer took delivery of the deed to his new house but forgot to record the deed. Under these
circumstances - CORRECT ANSWER ✔✔ -The buyer's interest is not fully be protected against
3rd parties
A buyer's interests in real property, acquired at the moment the seller and the buyer enter into a
sales contract is known as: - CORRECT ANSWER ✔✔ -
A city took a property through eminent domain so they could build a sports complex and then
lease it to four privacy sport franchises. Would this be allowed? - CORRECT ANSWER ✔✔ -
Yes! as long as the home owners were pay compensation for the properties
A claim or interest revealed by a title search is called a - CORRECT ANSWER ✔✔ -cloud on
title
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