Maine real estate final - Study guides, Class notes & Summaries

Maine Real Estate Final Exam 2024. All of the following are real property EXCEPT - correct answer A Portable Basketball hoop A metes and bounds description of real property relies on - correct answer A point of beginning, measurement of distances, and directions on a compass Fee simple ownership describes - correct answer Current ownership A life estate interest describes - correct answer Future ownership Which of the following statements about Susan, the tenant of a life estate, i...

The maximum security deposit a landlord may take on is CORRECT ANSWER Up to two months rent Which real estate player estimates the value of real property? CORRECT ANSWER Appraiser When doing a CMA (Comparative Market Analysis) a licensee must reconcile the adjusted prices of the comparable. This means: CORRECT ANSWER Exercising professional judgement to find a final estimate of value An owner-occupied three-family property is being sold. There are tenants in two of the units. The Purcha...

Real Estate- Maine Learning Group Study Guide Test 2024. Equitable Right of Redemption - correct answer The right of a defaulted borrower to redeem the property after foreclosure proceedings have begun & before the foreclosure sale by paying off the loan balance, plus interest until the day of payoff & costs. Written Policy Manual - correct answer Identifies & describes the types of real estate brokerage relationships in which the broker & affiliated licenses may engage. (Maine requirement) ...

Real Estate- Maine Learning Group Equitable Right of Redemption - correct answer The right of a defaulted borrower to redeem the property after foreclosure proceedings have begun & before the foreclosure sale by paying off the loan balance, plus interest until the day of payoff & costs. Written Policy Manual - correct answer Identifies & describes the types of real estate brokerage relationships in which the broker & affiliated licenses may engage. (Maine requirement) National Association...

TSI Testing 126 Questions with Verified Answers In 2010, talk show host Oprah Winfrey and novelist Jonathan Franzen kissed and made up after a nine-year feud. In 2001, Franzen was disinvited from appearing on Winfrey's TV show to pitch his novel The Corrections after he made it clear that he was unhappy about the book's being chosen for the Oprah Book Club. Describing his work as "in the high-art literary tradition," Franzen said he didn't want to be associated with the Club, which he a...

The maximum security deposit a landlord may take on is - Answer- Up to two months rent Which real estate player estimates the value of real property? - Answer- Appraiser When doing a CMA (Comparative Market Analysis) a licensee must reconcile the adjusted prices of the comparable. This means: - Answer- Exercising professional judgement to find a final estimate of value An owner-occupied three-family property is being sold. There are tenants in two of the units. The Purchase and Sale Agr...

Real Estate- Maine Learning GroupEquitable Right of Redemption - correct answer The right of a defaulted borrower to redeem the property after foreclosure proceedings have begun & before the foreclosure sale by paying off the loan balance, plus interest until the day of payoff & costs. Written Policy Manual - correct answer Identifies & describes the types of real estate brokerage relationships in which the broker & affiliated licenses may engage. (Maine requirement) National Association o...

CONVENTIONAL LIFE ESTATE - correct answer SET UP BY THE GRANTOR. EXAMPLE: SON GIVES PROPERTY TO HIS MOTHER FOR HER LIFE. UPON HER DEATH THE PROPERTY COULD REVERT BACK TO THE SON OR TO A REMAINDERMAN THAT HE NAMES WHEN HE SETS UP THE LIFE ESTATE. Fee Simple on A Condition Subsequent - correct answer CHARACTERIZED BY THE CONCEPT OF "NEVER TO BE USED AS" POSSIBLE FUTURE INTERST IS CALLED THE RIGHT OF RE-ENTRY FEE SIMPLE WITH A SPECIAL LIMITATION - correct answer CHARACTERIZED BY THE...

The maximum security deposit a landlord may take on is - Answer-Up to two months rent Which real estate player estimates the value of real property? - Answer-Appraiser When doing a CMA (Comparative Market Analysis) a licensee must reconcile the adjusted prices of the comparable. This means: - Answer-Exercising professional judgement to find a final estimate of value An owner-occupied three-family property is being sold. There are tenants in two of the units. The Purchase and Sale Agreem...

Final Quiz Verified Answers Nancy John is a subagent of the seller Nancy. To whom does John owe fiduciary duties? The buyer takes possession per the terms agreed upon between the seller and buyer in the Purchase and Sale Agreement. A closing takes place on August 31. After the closing, the buyer takes possession of the property: Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen Brainpower Read More RESPA (Real Estate S...