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Rockwell Real Estate Classes WA Final Exam Questions and Answers with rationale 2024.

3 methods of legal description - correct answer Metes and Bounds - Local. Describes the property location in the location itself Government Survey method - Used to identify the location of the property in reference to the united states survey map. Meridian and Baselines, Range and township lines The lot and black method is the standard method for describing downs and cities. - Map showing lots and blocks in the subdivision is called a plat or a plat map. A developer building on vacant...

Rockwell Real Estate Classes WA Final Exam Questions and Answers 2024.

Rockwell Real Estate Exam Questions and Answers 100% Correct Rockwell Real Estate Exam Questions and Answers 100% Correct Rockwell Real Estate Exam Questions and Answers 100% Correct Rockwell Real Estate Exam Questions and Answers 100% Correct 3 methods of legal description - ANSWER-Metes and Bounds - Local. Describes the property location in the location itself Government Survey method - Used to identify the location of the property in reference to the united states survey map....

Rockwell Real Estate Exam WA 2 Questions and Answers 100% Correct Rockwell Real Estate Exam WA 2 Questions and Answers 100% Correct Rockwell Real Estate Exam WA 2 Questions and Answers 100% Correct Rockwell Real Estate Exam WA 2 Questions and Answers 100% Correct At what point in a transaction must you disclose your agency status in writing? - ANSWER--Before a party signs an offer You must disclose your agency status to each party in a transaction as soon as practicable. However, the initia...

Rockwell Real Estate Final Exam Questions and Answers Latest 2024 (GRADED) A buyer purchases a rental home that is fully furnished. The document used to transfer title to the furniture is: a. quitclaim deed b. bill of sale c. special warranty deed d. general warranty deed b. bill of sale Deeds transfer title to real estate, a bill of sale is generally needed to transfer title to personal property. Ben receives a life estate in a property, with his nephew Will designated as the remainde...

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...

Rockwell Real Estate Exam WA 2 questions with correct answers A counteroffer: A. acts as a rejection of the initial offer B. is used to rescind a previously existing contract C. is used only to make an offer contingent on a particular event D. is used when a buyer wants to make an offer where the seller has already accepted an offer Correct Answer-A. acts as a rejection of the initial offer A counteroffer is a rejection of the previous offer. Either a buyer or a seller may make a count...

Rockwell Real Estate Exam WA 2 questions with correct answers At what point in a transaction must you disclose your agency status in writing? A. at closing B. when first meeting any potential party to the transaction C. when a party signs an offer D. Before a party signs an offer Correct Answer-D. Before a party signs an offer You must disclose your agency status to each party in a transaction as soon as practicable. However, the initial disclosure may be oral - the law doesn't requir...

Rockwell Real Estate Exam MAIN Questions and Answers 100% Correct Rockwell Real Estate Exam MAIN Questions and Answers 100% Correct Rockwell Real EstRockwell Real Estate Exam MAIN Questions and Answers 100% Correct Rockwell Real Estate Exam MAIN Questions and Answers 100% Correct ate 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 ...