Gold Coast Exam Questions With Correct
Answers
What Do you call when different companies come together for a specific purpose? -
answerJoint Venture
What is called when the government can take your property to build a school? -
answerEminent Domain
What is the best deed for the seller? - answ...
if your broker doesn'y pay you wou can you sue? - answer✔The broker
How do you calculate the Doc stamps on the Deed? (math) - answer✔31 and 43
How do you calculate the Doc stamps on the Deed? (math) - answer✔Divide by 100 and
multiply by .70
If you have two brothers who buy a property together, if one brother die, how does the property
go to the other? - answer✔Joint Tenancy
What transfer tax does not apply to an assumable mortgage? - answer✔Intangible Tax
What evaluation will more than likely be used in a government building? - answer✔Cost-
depreciation Approach
Is the government national mortgage association a primary lender? - answer✔No, Secondary
market
The name of the legal document that represents the details of the loan - answer✔Promissory
Notes
If two friends buy a piece of property together, how will they leave their portion to family when
they pass? - answer✔Tenancy In Common
What type of depreciation is an over-improvement? - answer✔Functional Obsolesence
What is a major disadvantage in investing in real estate? - answer✔Iliquidity
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