Art sold his house - Study guides, Class notes & Summaries

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Rockwell Real Estate Exam MAIN Questions and Answers 100% CorrectRockwell Real Estate Exam MAIN Questions and Answers 100% CorrectRockwell Real Estate Exam MAIN Questions and Answers 100% CorrectRockwell Real Estate Exam MAIN Questions and Answers 100% Correct Which of the following loans would be subject to the Truth In Lending Act? - ANSWER-A loan to a first-time home buyer Art sold his house, which was not encumbered with a mortgage. Closing expenses were $5,264, and he paid a commission ...

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Which of the following loans would be subject to the Truth In Lending Act? - Answer- A loan to a first-time home buyer Art sold his house, which was not encumbered with a mortgage. Closing expenses were $5,264, and he paid a commission of 7% of the selling price. He received a check at closing for $372,316. What did the house sell for? - Answer- $406,000 (100%-7%=93%). $337,580/ 0.93= $406,000. Frank gives Stella an option to buy his house. Stella, as the optionee, is obligated to: - Answe...

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WA BROKERS CRAM EXAM #2, QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED. Which of the following loans would be subject to the Truth in Lending Act? A: A loan to a first time home buyer B: A lone to a homeowners association C: A loan to a residential subdivision D: A loan to buy a 20-unit apartment complex - -A Art sold his house, which was not encumbered with a mortgage. Closing expenses were $5,264, and he paid a commission of 7% of the selling price. He received a check at closing f...

Which of the following loans would be subject to the Truth In Lending Act? - correct answer A loan to a first-time home buyer Art sold his house, which was not encumbered with a mortgage. Closing expenses were $5,264, and he paid a commission of 7% of the selling price. He received a check at closing for $372,316. What did the house sell for? - correct answer $406,000 (100%-7%=93%). $337,580/ 0.93= $406,000. Frank gives Stella an option to buy his house. Stella, as the optionee, is obl...

Which of the following loans would be subject to the Truth In Lending Act? Correct Answer-A loan to a first-time home buyer Art sold his house, which was not encumbered with a mortgage. Closing expenses were $5,264, and he paid a commission of 7% of the selling price. He received a check at closing for $372,316. What did the house sell for? Correct Answer-$406,000 (100%-7%=93%). $337,580/ 0.93= $406,000. Frank gives Stella an option to buy his house. Stella, as the optionee, is obligated t...