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Perry Real Estate College Final Questions And Answers Already Graded A+
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Improvement - ️️any artificial thing attached on or below ground, such as a building, fence, water line or sewer pipe, as well as growing things that are made part of the landscaping. Agency coupled with an interest - ️️Broker agrees to provide financing for condo being constructed with...

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  • 14 novembre 2024
  • 23
  • 2024/2025
  • Examen
  • Questions et réponses

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  • perry real estate college

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Perry Real Estate College Final
Improvement - ✔️✔️any artificial thing attached on or below ground, such as a building,
fence, water line or sewer pipe, as well as growing things that are made part of the
landscaping.

Agency coupled with an interest - ✔️✔️Broker agrees to provide financing for condo
being constructed with exclusive right to sell the units


Special Purpose Real Estate - ✔️✔️churches, schools, cemeteries, and government-
held lands

Propriety lease - ✔️✔️the lease given to shareholders in a cooperative

Disposition - ✔️✔️Right to encumber

Control - ✔️✔️Right to determine interest of property

Accession - ✔️✔️Acquiring title to additions or improvements to real property as a
result of a lease ending

PITI - ✔️✔️Principal, Interest, Taxes, Insurance

Exclusion - ✔️✔️ability to legally refuse others interest

Yes - ✔️✔️Are Fixtures real property?

third - ✔️✔️Mortgage interest on a ____ home affects tax returns

Deed - ✔️✔️A document that transfers ownership of property from one party to
another.

federally related transaction - ✔️✔️Appraisals are required for
Fixture - ✔️✔️An item of personal property that has been converted to real property by
being permanently affixed to the realty.


Condo - ✔️✔️An individually owned unit in an apartment-style complex with shared
ownership of common areas.Owned in fee simple + undivided joint interests

monetary policy - ✔️✔️factor in supply

,Old english law - ✔️✔️Bundle of legal rights comes from

Fructus Industriales - ✔️✔️An Emblements, considered real property, plant or crop that
require annual cultivation

Enjoyment - ✔️✔️possession without harassment or interference

Broker - ✔️✔️Point of contact between 2 or more people in negotiating the sale, rental
or purchase

FEMA - ✔️✔️administers the national flood insurance program

Chattel - ✔️✔️an item of personal, movable property

Subdivision - ✔️✔️the dividing of a single property into smaller parcels

Agency - ✔️✔️Not determined by source of compensation

Created by express agreement between parties and ratification, estoppel, and
implication

Net listings - ✔️✔️prohibited in some states

Agent - ✔️✔️Principal broker of firm

Puffing - ✔️✔️"Best deal in town"

Exclusive agency - ✔️✔️owner sold home herself and didn't owe a commission

Seller's decision - ✔️✔️Listed price of a property is always

Breached duty of loyalty - ✔️✔️Showing a buyer homes outside their price range

Agent is interested in a property they are showing a buyer and they make an offer on it

"self dealing"

Undisclosed dual agency - ✔️✔️repping buyer and seller without full and complete
disclosure

Broker - ✔️✔️Commission that is paid to a salesperson is determined by mutual
agreement with

, Transaction broker - ✔️✔️not representing either party but helping a buyer/seller fill out
a sales contract

Customer - ✔️✔️someone who refused buyer representation

a FSBO seller

Fee for services - ✔️✔️unbundling of services

Exclusive right to sell listing - ✔️✔️commission regardless if the broker aids

Care violation - ✔️✔️Switching from residential to industrial prep w/ no experience

fee-for-service - ✔️✔️offering real estate services in a piecemeal fashion

Patent defect - ✔️✔️one that can be seen with the naked eye

Exclusive buyer agency agreement - ✔️✔️contract signed between purchaser and a
broker

fraud - ✔️✔️net listings are prohibited because they could lead to

dual agent - ✔️✔️Principal broker appoints you to rep the buyer in designated agency

Latent defect - ✔️✔️One that you can't see under ordinary inspection

CMA - ✔️✔️Way to ensure a buyer doesn't overpay

Retainer fee - ✔️✔️A small fee paid by the client upon creation of a buyer agency
relationship as an advance partial compensation for services

Exclusive right to sell - ✔️✔️most protection for a broker

Ratification - ✔️✔️can be expressed in writing or orally accepting the acts or by
principal taking the benefits

Honesty and fair dealing - ✔️✔️If a buyer is unrepresented, listing agent still owes the
buyer the duty of

Open listing - ✔️✔️Listing given to any number of brokers; only selling broker is paid

caveat emptor - ✔️✔️buyer beware

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