Who can obtain a va loan - Study guides, Class notes & Summaries

McKissock Basic Appraisal Principles Exam QUESTIONS With Answers Latest 2024/2025 Graded A+. The primary purpose of USPAP is to protect CORRECT ANSWERS: public trust Normally the first step in highest and best use analysis is to research the uses that are CORRECT ANSWERS: legally permissible An appraiser is appraising a property with two structures on one tract of land. The client asks the appraiser not to mention the second structure, as it is in poor condition. Which statement is TRUE reg...

McKissock Basic Appraisal Principles Exam Questions With Correct Answers Latest 2024/2025 (Graded A+) Which entity is responsible for establishing the requirements to become an appraiser? CORRECT ANSWERS: the AQB True or False: An applicant for Certified General appraiser must possess at least an associate's degree from an accredited college or university. CORRECT ANSWERS: False The requirements for state licensed and certified appraisers had their genesis in CORRECT ANSWERS: FIRREA An ap...

1.1. A title was recorded for a parcel of real property vested in the name of Johan Wilson, a single woman. After her marriage to William Roberts, she executed a deed to the property only in the name of Johan Roberts, a married woman. The discrepancy in the grantors name is: A. Valid if William Roberts agrees to it B. A defect on title that may cause title to be vested as tenants in common C. Immaterial if the property is properly described D. A defect which may cause a cloud on the title...

Final Exam A California real estate Questions and Answers 100% Pass All of the following are ways by which an offer to purchase real estate would be terminate, except - Correct Answer ️️ -Failure to communicate notice of revocation before the other party has communicated his or her acceptance When using their closing statement, escrow would debit the seller of income property for which of the following items - Correct Answer ️️ -Prepaid rent When a Cal-Vet wishes to purchase a hom...

When the buyer assumes the sellers loan, the ______ becomes responsible for repayment of the loan as well as any other obligations to the lender. - Answer- Buyer Lenders view non-realty items within the real estate contract to be ______, and therefore the value of those items needs to be deducted from the sales price. - Answer- Sales concession When completing the contract how should you describe the location of the property - Answer- Lot and block legal description The fixtures that ar...

Michigan Real Estate Exam (set 9) Questions and Answers Calder's Construction Company has built a home in a new subdivision which was sold 6 months after it was built, for $48,500. This amount reflected a loss of 3%. Knowing this, what was the original asking price on the home? $50,000 To figure this out, take the sale price and divide it by 97% (100%-3% loss=97%). So, $48,500/97% = $50,000. A seller was selling an unimproved 1.1-acre lot for $10,000. The seller listed the property ...

NMLS Final Exam Questions With Answers Latest Updated 2023-2024 | 100% Verified. TILA disclosure must be given to the applicant within how many days after receiving the signed loan application for a reverse mortgage - ANSWER 3 business days Truth in lending disclosure must be delivered within how many business days prior to closing a reverse mortgage - ANSWER 7 days The APR must be finalized at least how many days before closing? - ANSWER 3 days A company with which a consumer has an establ...

ASREB Exam Questions With Complete Solutions. Salesperson is working for a principal, but the salesperson exceeds authority in agreement. Principal does nothing to correct the actions, and the public is led to believe the actions were okay. Agency? Estoppel Amount stated in a purchase contract in case the buyer breaches is called: Liquidated In a sublease with a positive leasehold who benefits from excess rent? Sub-lessor Property taxes are 1,525. 1st half paid by seller closes November...

Real Estate Final Exam (150 Questions) With Complete Solutions . A real estate licensee has a buyer agency agreement. What is the seller in this situation? A customer. An optionor and an optionee make a contract for an option on a commercial piece of property. If the optionee decides to exercise his option, when must he perform? He must exercise his option under the terms of the option contract. When can a landlord evict a disabled blind or disabled tenant from the premises? If the tenant ...

Property managers who are employed and compensated by community associations are required to obtain and maintain which type of license? CAM What term is used for the practice of specializing in one particular residential neighborhood or type of property? Farming empty upon closing a sales transaction who pays the sales associate their contracted commission? Employing Broker Home sold for $250k with a garage, a home sold in the area for $230k with no garage. From th...