Nyrei state Study guides, Class notes & Summaries

Planning board = - ANSWER Comprehensive Board What is the right that government can take property for the public good? - ANSWER Eminent Domain How long is your NY real estate license issued for? - ANSWER 2 Years Resales require a _________________________________________________ , it is not required for new construction or through the court. - ANSWER Property Condition Disclosure Form What do brand new properties require? - ANSWER A Warranty

NYREI STATE EXAM GROUP TUTORING question and answers 2023 passed According to the New York State Real Property Law, a real estate salesperson's license is issued for a term of how many years? - correct answer Two What type of residential real property transfer would require a property condition disclosure statement? - correct answer Re-sales What happens to the licenses of salespersons if their sponsoring broker's license is revoked or suspended? - correct answer They are suspended A...

NYREI STATE EXAM

NYREI STATE EXAM GROUP TUTORING According to the New York State Real Property Law, a real estate salesperson's license is issued for a term of how many years? - CORRECT ️️ Two What type of residential real property transfer would require a property condition disclosure statement? - CORRECT ️️ Re-sales What happens to the licenses of salespersons if their sponsoring broker's license is revoked or suspended? - CORRECT ️️ They are suspended A listing broker for the seller has a...

NYREI State Exam (Created after group tutoring session (6/28/23) Graded A+

Planning board = CORRECT ANSWER Comprehensive Board What is the right that government can take property for the public good? CORRECT ANSWER Eminent Domain How long is your NY real estate license issued for? CORRECT ANSWER 2 Years Resales require a _________________________________________________ , it is not required for new construction or through the court. CORRECT ANSWER Property Condition Disclosure Form What do brand new properties require? CORRECT ANSWER A Warranty What happ...

NYREI State Exam Guide Questions and CORRECT Answers capital gain - Ans profit from a sale, which is taxed Taxpayer Relief Act - Ans $250,000 of profit is tax-free for a single person and $500,000 for a married couple. (If one of them dies, the other can still use the $500,000 tax break for 2 years.). capital gains formula - Ans $400,000 sell price - $50,000 buy price = $350,000 gain $350,000 gain - $500,000 exemption = $0 cap gains tax

NYREI State UPDATED Exam Questions and CORRECT Answers According to the New York State Real Property Law, a real estate salesperson's license is issued for a term of how many years? - Ans Two What type of residential real property transfer would require a property condition disclosure statement? - Ans Re-sales What happens to the licenses of salespersons if their sponsoring broker's license is revoked or suspended? - Ans They are suspended A listing broker for the seller has a buyer...

NYREI State PASSED Exam Questions and CORRECT Answers Planning board = - Ans Comprehensive Board What is the right that government can take property for the public good? - Ans Eminent Domain How long is your NY real estate license issued for? - Ans 2 Years Resales require a _________________________________________________ , it is not required for new construction or through the court. - Ans Property Condition Disclosure Form What do brand new properties require? - Ans A Warranty

NYREI State Exam (Created after group tutoring session (6/28/23) Graded A+