Can you Pass this Basic Real Estate Exam?
If a home’s appraised market value is $760,000 and the loan balance is $266,000, what is the loan-to-value ratio? Disclose the true costs of an FHA loan. Truth in lending helps do away with any deceptive financing tactics. For Truth in Lending, the primary purpose is what? Disclose the true costs of obtaining credit. The loan-to-value ratio is the ratio of the loan balance to the property value. Find out the costs to close a transaction.
They can obtain this land through a government power called what? When the property is actually taken, that is condemnation. An appraisal can be performed by who? A real estate appraiser is the only one who can prepare an official property appraisal. If you beloved this information along with you would like to acquire more information concerning Rembrandt Hotel Bangkok i implore you to go to our web site. A private owner can claim certain rights. An agent and broker can prepare a Comparative Market Analysis (CMA) or Broker’s Opinion of Value (BOV). Eminent domain is the government power allowing it to obtain private property for public use.
What is that temporary financing called? The growing tree is something that can be removed from the property, so it isn’t considered realty. To expand a public park, a city has to buy the land from private owners. Which of the following would not be considered realty? For it to be considered realty, it has to be the land or anything attached to it. Warehousing happens when banks and other lenders give out mortgage loans to consumers knowing they will quickly turn around and sell those loans on the secondary market.
An agent is someone who transacts business or manages the tasks of another person. Fixing something that is already malfunctioning is called corrective maintenance. What kind of home would allow Brian to lower his income by deducting the mortgage interest after buying his first home? For mortgage interest deductions purposes, a qualified home is considered the primary or main home of the taxpayer. That person would be the principal (Tony), which is the party the agent represents and acts on behalf of. Fixing the lock is what type of maintenance? One of your commercial tenants complains about a broken door lock.
The 1988 Amendment added protected classes to the Fair Housing Act, like families and people with mental and physical disabilities. No, an agreement was not signed. Tina refused to have realtor Tyler list her home. Elderly people were not added to the law, but senior citizen housing is exempt from the Fair Housing Act if it complies. She did agree to let him show the house to 3 potential buyers, so has an agency been created?
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