The buyer and sel - Study guides, Class notes & Summaries

mutual consent - ANSWER-meeting of the minds consideration - ANSWER-something given in exchange for a promise option - ANSWER-an agreement between a buyer and seller giving the buyer the right to purchase a property at a present price for a given period of time void contract - ANSWER-invalid from the beginning and has no effect on the parties. contract to perform illegal act is a void contract voidable contract - ANSWER-cannot be enforced against one or more of the parties. most cont...

SOUTH CAROLINA REAL ESTATE EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED/ Mindy, a South Carolina resident, is buying a new home. She'll occupy the home as her primary residence. It has a fair market value of $220,000 and is in an area with a millage rate of .350. What can she expect to pay in property taxes? - -$3,080 **Fair market value is multiplied by the assessment ratio to calculate the property's assessed value. For primary residences, this ratio is 4%. This is then m...

A Business Broker - CORRECT ANSWER-Specializes in the sale, purchase or lease of businesses. Is required to have a real estate license and may be licensed as a real estate broker or sales associate Follow-Up is - CORRECT ANSWER-Keeping in contact with the new owner after the closing of the sale A builder constructs a house on an owner's lot according to the owner's plans and specifications. This is called - CORRECT ANSWER-Custom Building A builder purchases several vacant lots in an est...

Real Estate U Pass the NY State Exam Latest Questions with 100% Accurate Solutions The Department of State - Answer️️ -- Primarily responsible for issuing real estate licenses, pocket cards, and handing down disciplinary action - Provides advertising guidelines for brokers Article 12-A of the NYS Real Property Law - Answer️️ -Outlines the roles/duties of the Department of State Commissions - Answer️️ -- Commissions are paid by the client (buyer or seller depending on the tran...

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Topics CRES Final Test Questions And Answers.

A company's strategy - Answer- Represents managerial commitment to undertake one set of actions rather than another in an effort to compete successfully and achieve good performance outcomes Which of the following questions helps distinguish a winning strategy from a mediocre or losing strategy - Answer- Is the strategy helping the company achieve a sustainable competitive advantage and is it resulting in goo company performance? In crafting a company's strategy - Answer- Managers need t...

Illinois Real Estate Practice Exam Questions and Answers Graded A Objectives of Federal Reserve System To counteract inflationary and deflationary trends, to create a favorable economic climate, to maintain sound credit conditions but NOT to control the secondary mortgage market Remainder Interest A fee simple holder of a parcel of real estate grants a life estate to her daughter and stipulates that upon the daughters death, the property will pass to her grandson. The second estate is called 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: - ANSWER easements There is no upper limit on the value of a Texas homestead. - ANSWER true A(n) __________ is one that combines some of the e...

Revision notes on the duties of the buyer and the seller for commercial law. Clear explanation of duties owed which are relevant to many questions in commercial law exams. Complete with colours and pictures to aid memory.