Prorations Study guides, Class notes & Summaries

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...

A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they can buy a house for Correct Answer $300,000 What facts need not be disclosed in a real estate transaction? Correct 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? Correct Answer The pricing pyramid A home sells for $310,500. Expenses of the sale are $4,800. The brokerage fee i...

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 ...

Escrow Sample Test Questions and Answers Rated A An escrow is an arrangement that: a) Holds documents, b) Holds funds, c) Creates documents to affect a transfer of interest in property, d) is responsible for guaranteeing funds. A, B, C, E When is it necessary to have closing documents recorded prior to disbursement of escrow funds? a) it is not necessary, b) in almost all situations, c) when instructed by one of the parties to the escrow, d) only when the written instructions require recording...

LAW OF CONTRACTS CHAMPIONS Real Actual Exam Questions And Revised Correct Answers Already Passed!! A contract in which only one party is obligated to perform is a________ contract. - ANSWER : unilateral For tax prorations: - ANSWER : If taxes are not paid at or prior to closing the buyer shall pay for the current year, If taxes for the current year vary from the amount prorated at closing, the parties shall adjust the prorations when tax statements for the current year are...

An out of -state investor sells a property in Colorado. The closing entity must withhold up to 2 percent of the (Ans - selling price as possible income tax liability The Closing Instructions form (Ans - must be part of every contract According to statue, "good funds," include a (Ans - tellers check from savings and loan All of the following must be disclosed to a tenant by a property manager EXCEPT: (Ans - Disclose the name and address of the landlord According to the Contract ...

A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they can buy a house for - correct answer $300,000 What facts need not be disclosed in a real estate transaction? - correct 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? - correct answer The pricing pyramid A home sells for $310,500. Expenses of the sale are $4,800. The brokerage...

LAW OF CONTRACTS CHAMPIONS Real Actual Exam Questions And Revised Correct Answers Already Passed!! A contract in which only one party is obligated to perform is a________ contract. - ANSWER : unilateral For tax prorations: - ANSWER : If taxes are not paid at or prior to closing the buyer shall pay for the current year, If taxes for the current year vary from the amount prorated at closing, the parties shall adjust the prorations when tax statements for the current year are...

PreLicensing Final Exam| Q & A, 100% verified| 2024 PreLicensing Final Exam| Q & A, 100% verified| 2024 A broker advertises his listing as waterfront. The property has a great view of the lake, but there is another lot located b/w the listed property & the lakeshore. The listing agent may be guilty of Willful B. Misrepresentation A broker engaging in property management is generally tasked by the property owner with C. Reinvesting profits to build the owner's investment portfolio...

An out-of -state investor sells a property in Colorado. The closing entity must withhold up to 2 percent of the - selling price as possible income tax liability The Closing Instructions form - must be part of every contract According to statue, "good funds," include a - tellers check from savings and loan All of the following must be disclosed to a tenant by a property manager EXCEPT: - Disclose the name and address of the landlord According to the Contract to Buy and Sell Real Estate - ...