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The inspection of the electrical system should begin with which of the following locations on the property? - Exterior... All parts of the home inspection start on the exterior. A professional inspector delivers a home inspection report written in paragraph form based on his observations and opinions of the condition of a subject property. This form of report is known as a/an: - Narrative report... A narrative report is written in paragraph form. A hornet nest on the house need not be repor...

When selling an individual condominium unit which of the following would be appurtenant to the unit? - Cabinets in the unit Bob and Jerry take title together. Bob owns one half and Jerry owns one half of the same property. What form of co-ownership does the law presume? - Tenancy in common Owner's title insurance will cover: - Damages if the title is unmarketable When a city buys real estate they would take title as: - Sole and separate Developer George purchased 5 acres of residential la...

ACTUAL CompuCram Exam 2024 Questions With Completed Answers To Score A+!! If a building sells for $1,200,000, produces a gross income of $12,000 monthly, and annual building expenses are $8,400, what is the gross annual rent multiplier? 8.30 QUESTION RATIONALE Remember, GRM uses gross income, not net income, so ignore the expenses of $8,400. Because the question asks for the annual rent multiplier, multiply the monthly income of $12,000 by 12 ($12,000 x 12 = $144,000). Use the GRM formula; V...

If a lender transfers the servicing of a mortgage, it must inform the borrower at least how many days in advance of the effective date of transfer? Answer 15 Days The primary reason to provide a borrower with a revised LE is to Answer Accommodate changed circumstances. (A revised LE may be provided if there are changed circumstances.) The agency responsible for administering the Equal Credit Opportunity Act is the Answer Consumer Financial Protection Bureau. FHA is administered by Answe...

The owners of an undivided interest in land, with no rights of survivorship, would be considered Answer tenancy in common What best describes ownership of a condominium? Answer fee simple absolute What is NOT considered when determining whether an item is a fixture or personal property? Answer value of the annexed item ABC Remodeling, Inc. buys a new warehouse for its trucks and excess building materials. How will it take title? Answer tenancy in severalty Julie is the new owner of a...

Karen and David Carpenter are a team. They have one employee and four sales agents; they also enjoy flipping properties. David asks one of the sales agents to write an offer for him but to use the company name instead of his first and last name. David's offer is accepted, he puts a fresh coat of paint on the property, and then sells it for considerably more. What has David done? - Self-Dealing. Alice forgot to lock the windows that she opened to let in fresh air at her open house and the ho...

Which can the operation of law NOT create? Answer joint tenancy What lien attaches to a property to prevent the transfer of title when there is a pending lawsuit that may affect the title? Answer attachment A couple is engaged to be married. Any real estate they own at the time the marriage takes place remains that spouse's property in severalty, and property acquired after the marriage belongs equally to both of them. This type of ownership is referred to as Answer community property ...