Single family detached - Study guides, Class notes & Summaries

The five principal types of residential developments are - ANSWER(a) single-family detached houses, (b) single-family attached houses, (c) multifamily residences, (d) mobile homes and (e) second homes. What are the differences between condominium and cooperative ownership? What are some advantages of these types of ownership over renting? - ANSWERThe owner of a condominium holds title in fee simple while the owner of a cooperative owns stock in a corporation. Often the co-op owner cannot disp...

XINNIX FLIGHT SCHOOL EXAM WITH CORRECT ANSWERS The rate lock period for a refi, with a right of rescission, must be long enough to cover the rescission period. True How long does a borrower have to wait to buy a home after they have had a foreclosure? FHA 3 years What are the steps you should follow to determine the correct MI? LTV, term, product type, occupancy type and coverage. Typically, files that have to be manually underwritten are subject to less strict guidelines. Fa...

National Real Estate Exam – Hawaii Questions and Answers 100% Pass In MOST states, when a first mortgage is foreclosed and the property has been sold, junior liens - Correct Answer ️️ -no longer have any claim on the property. A judgment has been properly recorded. Any subsequent purchasers, whether they have actually examined the record or not, have been given - Correct Answer ️️ - constructive notice. A salesperson lists a property with a contract that allows for sub agency an...

PSI NJ Real Estate Exam New Exam Questions And Correct Answers Already Graded A +. The Department of Housing and Urban Development estimates that most private homes built before 1978 contain potentially dangerous levels of lead. Because of this, some Federal agencies, such as FHA, - ANSWERRequire the buyer to acknowledge disclosure of the presence of any known lead paint. At the time of listing, the seller tells the listing agent they are moving because the neighbor has loud parties ever...

At what depth of trench is shoring require / At what depth of an excavation is shoring required? - 1.2 Meters or 4 feet Which of the following is not an acceptable method for determining the correct grading for a trench? - An experienced excavator says it's ok Which best describes the design principle of rain water deflection? - Design and construction that prevents water from ever entering What lighting certifications are required in Canada? - CSA safety certification What grit of sandp...

National Real Estate Exam – Hawaii Questions and Answers 100% Pass In MOST states, when a first mortgage is foreclosed and the property has been sold, junior liens - Correct Answer ️️ -no longer have any claim on the property. A judgment has been properly recorded. Any subsequent purchasers, whether they have actually examined the record or not, have been given - Correct Answer ️️ - constructive notice. A salesperson lists a property with a contract that allows for sub agency an...

If a commission amount or percentage is NOT stated in the listing agreement: - The broker would not be entitled to a commission Most homes in AZ are cold with legal descriptions that state: - Lot and block In which of the following appraisal methods DOES an appraiser need to determine a dollar amount for depreciation? - Cost Approach Rights of occupancy of an owner in a cooperative are based on: - A proprietary lease If an apartment building's zoning classification changes from multi fami...

Xinnix Quiz Questions with 100% Correct Answers Ginnie Mae was wholly created to purchase government mortgages on the secondary market - Answer- false which of the following was not a reason The Federal Housing Administration (FHA) was created - Answer- to simplify mortgage forms match in order of creation - Answer- 1st-FNMA 2nd-GNMA 3rd-FHLMC match the following - Answer- FNMA-fannie mae FHLMC-Freddie Mac what allowed more conventional mortgages to be originated in the early 1970s wit...

Why have the states passed laws that require real estate brokers and sales agents to be licensed? - ANSWER to protect the public What year was the TRELA passed? - ANSWER 1949 What is the potential fine for acting as a sales agent or broker in Texas without a license? - ANSWER 4,000 Who may be a Realtor®? - ANSWER a real estate license holder who also joins a realtor board (broker) What are the 7 sources of law? - ANSWER 1. u.s. constitution 2. Federal Laws 3. Federal Regulations ...

CAIB 1 Chapter 2 Question and answers correctly solved 2024 Identify the three most common homeowners policies in use today. - correct answers Homeowners Basic Form (IBC1151) Homeowners Broad Form (IBC1153) Homeowners Comprehensive Form (IBC1155) In addition to single family dwellings, identify 4 other risks that may be eligible for homeowner's policy. - correct answers 1. Dwellings containing more than 1 family 2. For insureds having more than one principal dwelling 3. Mobile homes si...