Real 4000 Test 3 Dietz Questions and Answers | Latest Update | 2024/2025 | 100% Pass
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Course
Real 4000
Institution
Real 4000
Real 4000 Test 3 Dietz Questions and
Answers | Latest Update | 2024/2025 |
100% Pass
What is earnest money in a real estate transaction?
Earnest money is a deposit made by the buyer to show commitment to the purchase of a
property.
What does gross rental income refer to?
Gross rental...
Real 4000 Test 3 Dietz Questions and
Answers | Latest Update | 2024/2025 |
100% Pass
What is earnest money in a real estate transaction?
✔✔ Earnest money is a deposit made by the buyer to show commitment to the purchase of a
property.
What does gross rental income refer to?
✔✔ Gross rental income is the total income received from renting out a property before any
expenses are deducted.
What is the loan-to-value ratio?
✔✔ The loan-to-value ratio is a financial term used to express the ratio of a loan to the value of
the property purchased.
What is a broker's commission?
✔✔ A broker's commission is the fee paid to a real estate broker for facilitating the sale or lease
of a property.
1
,What does real estate closing involve?
✔✔ Real estate closing is the final step in a property transaction where the ownership is
officially transferred from the seller to the buyer.
What is the purpose of a title search?
✔✔ A title search determines the legal ownership of a property and identifies any claims or
encumbrances on it.
What is a home warranty?
✔✔ A home warranty is a service contract that covers the repair or replacement of major home
systems and appliances.
What is capital gain in real estate?
✔✔ Capital gain is the profit made from selling a property for more than its purchase price.
What does due diligence mean in real estate?
✔✔ Due diligence involves investigating and verifying information about a property before
completing a transaction.
2
, What is a property management agreement?
✔✔ A property management agreement is a contract that outlines the responsibilities and terms
between a property owner and a property manager.
What does appraised value refer to?
✔✔ Appraised value is the estimated value of a property determined by a professional appraiser.
What is principal in the context of real estate financing?
✔✔ Principal is the amount of money borrowed in a mortgage or the portion of the loan amount
that remains unpaid.
What is net operating income (NOI) in real estate?
✔✔ Net operating income is the total revenue from a property minus operating expenses,
excluding financing and taxes.
What is a real estate investment trust (REIT)?
✔✔ A real estate investment trust is a company that owns, operates, or finances income-
producing real estate and offers shares to investors.
3
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