What is a lien Study guides, Class notes & Summaries

_____ is the consummation of a contractual real estate transaction in which all appropriate documents are signed, and the mortgage loan proceeds are disbursed by the lender. - Answer- Closing The primary determinants of real estate values are supply and _____. - Answer- Demand _____ is something of value that can be pledged as security for repayment of a loan. - Answer- Collateral Servicing includes which of the following activities? - Answer- Maintaining records of payment The monet...

What is the minimum licensing requirement to sell commercial real estate in New York? - ans a real estate salesperson's license What is the preferred method of creating an agency relationship? - ans expressed agency An amenity purchaser - ans occupies or uses the purchased property Condominium units are considered _____ property and are conveyed by _____. - ans real / deed A salesperson who is an independent contractor - ans is not subject to withholding requirem...

PSI Real Estate State Exam (NJ) Question and answers rated A+ 2023/2024 C. an involuntary lien - correct answer When a land owner uses his land as security for a loan, the encumbrance created is called. C. Question the seller to any known defects - correct answer If an owner wants to list a property for sale "as is," the listing agent should A. licensee must hold a timeshare license - correct answer According to the New Jersey Real Estate Time Share Act, if a licensee is selling a times...

Community Association - Answer- Legal entity in which the owners enjoy the protection, enhancement, maintenance, and preservation of their homes and property Three defining characteristics of Community Association - Answer- Mandatory Membership, Mutually Binding Documents, and Lien-Based Assessments Mandatory Membership - Answer- Membership in the community association is mandatory and automatic for all owners Mutually Binding Documents - Answer- Certain association governing documents ...

McKissock Basic Appraisal Principles I Final Exam Quiz 100% Solved The _____ has oversight authority over state appraisal boards. ASC (Appraisal Subcommittee) Which of the below is a requirement of a valid real estate contract? consideration, in writing and signed, and lawful objective "The interaction of buyers and sellers who trade long-term or intermediate-term money instruments" is the definition of the _____________ market. capital An analysis of the market conditions of supply, demand...

An economic recovery is defined as A) two successive quarterly declines in the gross domestic product. B) two successive quarterly increases in the gross domestic product. C) a period of higher housing prices. D) two successive periods of stock market gains. correct answers B) two successive quarterly increases in the gross domestic product. Explanation When consumers, lured by lower prices, venture back into the market, business activity increases and confidence begins to return. Sl...

Chapter 03 Financial Services: Finance Companies     
True / False Questions
  1. Finance companies differ from banks in that they do not accept deposits. 
TRUE   2. Finance companies have been among the slowest growing FI groups in recent years. 
FALSE   3. General Electric Capital Corporation (GECC) provides services to more than 15 million businesses and consumer is Asia alone. 
TRUE   4. In 2008, GE Capital Corporation accounted for approximately 50 percent...

Florida Real Estate Exam TEST Questions WITH 100% Correct Answers LATEST UPDATE 2023/2024 Binder deposit shows up as what on closing statement? - ANSWER Credit to buyer Which of the following is true about leverage? - ANSWER Leverage is the use of borrowed funds to purchase assets. Which of the following liens would take priority? - ANSWER A property tax lien In which of the following theories of mortgage lending does the borrower not retain ownership of the property during the loan ...

How many licenses are there? - ️️2 Contractor and Sub-Contractor Who can request a Mechanics Lien? - ️️Contractor or Sub-Contractor How many days do you have to issue a Mechanics Lien - ️️180 Days How many days do you have to issue a notice of a Mechanics Lien? - ️️120 days What is the % of value must the property have before you are eligible to issue a ML? - ️️15% How many days must you keep records if someone is affected by led or mold? - ️️3 years How...

WA State 3 Real Estate Exam Prep: Rockwell Institute Sample Exams 3 questions with correct answers The owner of property located along a stream or river may have which type of water right? A. Alluvion B. Riparian C. Appropriation D. Littoral Correct Answer-Your Answer: B Riparian rights are water rights that belong to owners of property that borders a stream or river. (Littoral rights refer to water rights associated with property that borders stationary water, such as a lake.) Five...