Real estate taxes Study guides, Class notes & Summaries

Law of Contracts - Champions Test | Questions & Answers (Graded A+) Law of Contracts - Champions Test | Questions & Answers (Graded A+) Wrongful or criminal deception intended to result in financial or personal gain is called: - ANSWER - fraud The Buyer and Seller Temporary Residential Lease forms may be used for a lease period not to exceed: - ANSWER - 90 days __________ extend above the surface without limitation. - ANSWER - air rights An example(s) of an appurtenance would be: - ...

Real Estate Final Exam (150 Questions)-Answers Already Graded A-2023/2024 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 premises? I...

North Carolina Real Estate (State Only Exam Review) Questions and Answers 100% Pass Which of the following statements is true regarding Ad Valorem taxation in North Carolina? 1. Real property is taxed according to its most recent sale price. 2. The Machinery Act requires reassessment tax purposes every 4 years. 3. Real property taxes and special assessments constitute an involuntary lien against property on January 1st of the next year. 4. Tax rates are effective until the next revaluation y...

A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they can buy a house for - ANSWER $300,000 What facts need not be disclosed in a real estate transaction? - ANSWER The property was the site of a homicide. What is a good graphic to show a seller that there will be more activity if the property is competitively priced? - ANSWER The pricing pyramid A home sells for $310,500. Expenses of the sale are $4,800. The brokerage fee is $18,630. Prorati...

Michigan Real Estate - Unit 13. Real Estate Taxes and Other Liens - Multiple Choice Questions with Accurate Answers "Ad valorem taxes are based on the value of the property taxes and create liens that are A) general, voluntary, and equitable. B) specific, voluntary, and equitable. C) statutory, involuntary, and general. D) specific, involuntary, and statutory "D-Explanation: The answer is specific, involuntary, and statutory. The lien is placed on the specific property taxes, occurs w...

Principles of Real Estate 2 Champion Exam With 100% Correct Answers 2024 What does D.U.S.T. stand for? - answerDemand, Utility, Scarcity, Transferability the percentage of value or sales price that a lender is willing to finance - answerLoan to Value Ratio (LTV) the value of a property is equal to the sum of the contributory value of each of its component parts. - answerprinciple of contribution the forces acting on a parcel of land are always affecting the value of the land - answerPRIN...

Pearson vue real estate Exam, Multiple Choice Questions And Correct Answers. If a licensee is paid a salary of $600 per month plus half of the office's 6% fee on all sales, what MUST the licensee's monthly sales be in order for the licensee to receive a total monthly income of $2,220? A. 27,000 B. 37,000 C. 54,000 D. 74,000 An agreement that restricts the use and occupancy of real estate, is part of a conveyance, and is binding on all subsequent buyers is called a(n): A. Agreement for...

Commercial Real Estate SAE - Champion's School of Real Estate 495 Questions with Verified Answers Productivity Management - CORRECT ANSWER Measuring the results from the use of available systems and tools for prospecting activities CRM - CORRECT ANSWER Contact Relationship Manager, a tool used to automate prospecting tasks and manage leads Geographic farming - CORRECT ANSWER A particular area that may include neighborhoods that a sales agent or broker markets for the solicitation of bu...

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 ...

Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers more than one piece of property. Wraparound Mortgage - c...