Ohio real estate - Study guides, Class notes & Summaries

Ohio Real Estate Exam Practice Questions & Answers 2023-24 May a consumer who has been harmed by a licensee acting under her license as a real estate salesperson or broker immediately file a claim for payment from the Real Estate Recovery Fund? - ANSWER-CORRECT ANSWER: No, the consumer must file a lawsuit, get a final judgment, and attempt to collect A listing agreement in which the agent may possibly be in competition with the client to see who can sell the house first is an exclusive -...

1 OHIO REAL ESTATE EXAM PRACTICE QUESTIONS REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+ May a consumer who has been harmed by a licensee acting under her license as a real estate salesperson or broker immediately file a claim for payment from the Real Estate Recovery Fund? - - CORRECT ANSWER: No, the consumer must file a lawsuit, get a final judgment, and attempt to collect A listing agreement in which the agent may possibly be in competition with the client to see who can sell ...

a competitive market analysis is __________________ the equivalent of an appraisal - Never A candy maker has a 5- year lease and installs a marble counter to roll candy on. When the lease is up, the candy maker may - Remove the counter because it is a trade fixture A license can be suspended or revoked for.... - Representing more than one party in a transaction, with the consent of only one of the parties A buydown means the - lender charged extra points to lower the interest rate A buyer ...

1 OHIO REAL ESTATE (STATE-SPECIFIC CRAMMER) EXAM REVIEW QUESTIONS AND ANSWERS/ VERIFIED/ Three items tenants in common hold - -1. Default 2.Shares are equal or unequal 3. No Survivorship Three items joint tenants hold - -1. Specify 2.Equal 3. Survivorship How much is in an acre? - -43.560 How much does a point equal? - -One percent How much is in the recovery fund? - -500,000-2 million How do you show ownership of a condominium? - -Deed How do you show ownership of a co-op? - -L...

Ohio Real Estate Exam Complete Questions and Answers(Latest Update 2024) Which would a buyer prefer: Land installment contract or purchase money mortgage? - ANSWER purchase money mortgage - the buyer will receive the deed to the property on the day of closing. -A purchase money mortgage does not transfer any title to the buyer; rather, it is a method by which the seller finances the transaction. -In a land installment contract, the buyer does not receive the deed until the final payment i...

1 OHIO REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE. VERIFIED/ What type of land use does NOT comply with the zoning restriction for its location, but is permitted because it benefits the public? - -Conditional Use Conditional uses (hospitals, schools, etc.) usually do not comply with zoning limitations. loan amount - -The amount the lender is risking is the loan amount, which is: Purchase Price - Down Payment = Loan Amount. What is NOT a feature of an FHA-insured loan?...

When may a person use the term REALTOR? - ANSWER after becoming a member of the National Association of Realtors What are advantages to a career in real estate sales? - ANSWER - Possibility of owning your own brokerage with additional training , education, and experience - potential for unlimited earnings - setting your own hours What is a disadvantage of a career in real estate sales? - ANSWER Not a steady income Most sales persons are hired as? - ANSWER independent contractors Wh...

Which would a buyer prefer: Land installment contract or purchase money mortgage? - ANSWER purchase money mortgage - the buyer will receive the deed to the property on the day of closing. -A purchase money mortgage does not transfer any title to the buyer; rather, it is a method by which the seller finances the transaction. -In a land installment contract, the buyer does not receive the deed until the final payment is made. A land installment contract transfers only equitable title. spot ...

1 OHIO REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, RATED A+ The difference between what a borrower has to pay to purchase a property and the amount a lender will lend on the property is the - -buyer's down payment What specific authority does the Ohio Realtor Association have over real estate licensees? - -A. Handling complaints against the licensees for regulation violations B. Determining licensure requirements C. Approving advertising for the sale or lease of real property D....

every viewable web page of the website - ANSWER When advertising real estate online where should the brokerage name be displayed? a. 40 b. 20 c. 20 d. 40 e. 20 f. 30 - ANSWER How many hours are needed for the following: a. Principles and practices b. real estate appraisal c. real estate finance d. real estate law e. post licensing course within 1 year of passing exam f. continuing education Automatically suspended - ANSWER If a real estate licensee fails to take all the required...