Debit to the buyer - Study guides, Class notes & Summaries

COLORADO REAL ESTATE FINAL EXAM REVIEW QUESTIONS & ANSWERS. GRADED A+ According to the Exclusive-Right-To-Sell Listing Contract, what happens to the earnest money if the buyer defaults? - -BuyerThe seller gets the funds The journal: - -is a chronological record of all receipts and disbursements made by the broker from the escrow bank account Title passes from the grantor to the grantee: - -when the seller signs the warranty deed When earnest money is withdrawn from the escrow account a...

the "Common Interest Community Governing Documents" subsection of the residential sales contract requires the "Governing" and "Financial" documents be delivered to buyer on or before the title Deadline by the: correct answers seller A major purpose of Commission Rule F is to: correct answers help brokers comply with the Colorado Supreme Court Conway-Bogue decision. A heavily encumbered property sells for $200,000.00 with anticipated total cash proceeds to the out-of-state seller of $...

Water Rights - The terms "littoral," "riparian," and "appropriative" refer to A salesperson lists a property with a contract that allows for subagency and dual agency. The salesperson is - an agent to the broker and a subagent to the principal. Depreciation is calculated based on the - Cost of the building only. When a property owner uses his home as collateral for a loan and creates a lien in favor of the lender, title is held by the - mortgagor A competitive market analysis is MOST o...

Real Estate License Review Questions and Answers | Verified & Updated A property sold for $60,000 and was financed bya 80% ltv mortgage. On the buyer's portion of the settlement statement the 2 % loan origination fee would be shown as - a debit to the buyer How does the buyer's earnest money deposit appear on the closing settlement statement? - as a credit to the buyer In a state where real property taxes are paid a year in arrears, how would the accrued taxes that were not due and pay...

Luke just purchased a property for $325,000, which was over list price. The Hawaii County assessed property value is $318,000. He's eligible for a $40,000 homeowner exemption and other exemptions of $5,000. His GET for the year was $80. On what amount will his property tax be calculated? a.)$272,920 b.)$273,000 c.)$278,000 d.)$318,000 - b.)$273,000 **Jeanine sold her Kihei duplex to Carlton for $418,000, and closing is on May 16. Each unit rents for $530 per month. The tenants paid rent...

Arkansas Real Estate Exam Questions and Answers 100% Pass Homeowner Dean owns the Northwestern 1/2 of the Northwestern 1/2 of the Northeastern 1/4 of the southwestern 1/4 of the south western 1/4 of section 31. how many acres is that property? A. 5 acres B. 10 acres C. 80 acres D. 2.5 acres - Correct Answer ️️ -2 x 2 x 4 x 4 x 4= 256 640/256= 2.5 D. 2.5 acres Seller Gareth is certain there are no clouds on his property's title. What type of deed should he provide buyers to show ...

What is Hawaii's residential property disclosure form? A.) A statement of the condition the home will be in after repairs are completed B.) A statement that lists all home upgrades the seller made C.) A statement that outlines the home repairs made in the past five years D.) A statement the seller provides to the buyer that outlines all known property defects - AnswerD.) A statement the seller provides to the buyer that outlines all known property defects Which of these acknowledgments do ...

PSI NJ Real Estate Exam / PSI Practice Test - Q & A The Equal Credit Opportunity Act addresses all of the following EXCEPT a. discrimination in lending b. written statements of credit denial c. acceptable factors for borrower analysis d. standardization of interest rates Under the terms of their listing contract, the owners may sell their house themselves and pay no commission. If their agent sells it, a commission will be due. What kind of listing contract do the owners have? exclusive agency...

Real Estate Final Exam (150 Questions) #1| Answered 100% Correctly| Updated 2024 A real estate licensee has a buyer agency agreement. What is the seller in this situation? A customer. An optionor and an optionee make a contract for an option on a commercial piece of property. If the optionee decides to exercise his option, when must he perform? He must exercise his option under the terms of the option contract. When can a landlord evict a disabled blind or disabled tenant from the premi...

3. In real estate, which of the following is correct about the term "title?" Taxes and insurance are often prepaid at closing to establish the escrow account. On which page of the Closing Disclosure form will the buyer see an accounting of the escrow account set up? Page two, under other costs On page two of the form, other costs are itemized for buyers and sellers. Taxes, prepaids, and initial escrow payment at closing - usually two months' worth, are paid by the buyer and shown on pa...