(D) When the offer is accepted, the real estate broker has earned the commission because the broker has brought a “ready, willing, and able†buyer to the seller. Choices (A) and (C) confuse the timing of the payment with when it is earned. Choice (B) is when the commission is typically paid
(D)$34,050 × 0.0438 = $1,491.39
(A) Choice (B) may be there in the summer, but not in the winter, and the sellers may it take with them when they leave. Choices (C) and (D) are not permanently attached to the property, so they are not fixtures.
(D) Choice (A) would be the right answer if the question asked you to name the action of the Habibs. Choice (B) might be the answer if someone were changing the mortgage from an adjustable rate to a fixed rate, but that’s not the question. Choice (C) is not an action related to mortgages.
(B) Choice (A) is the witnessing and notarizing of the title transfer for a piece of property. Choice (C) is the down payment given by the buyer to the seller at the time that the real estate sales contract is signed. Choice (D) refers to the purpose of a contract.
(D) $849,001 - $573,247 = $275,754 $275,754 ÷ $573,247 = 0.481, or 48.1%
(A) A townhome owner who owns his or her property in fee simple has the most complete form of legal ownership—subject, of course, to public and private restrictions. Choice (B) is the opposite of what is true. Choice (C) is incorrect because a homeowner owns the land and the dwelling. Choice (D) is incorrect because a townhome owner is bound by HOA covenants—as long as the covenants are not illegal.
(B) Choice (A) would be true if the Byrons and Joellen had signed an exclusive buyer agency agreement. Choice (C) would be true if Joellen were due a commission. Choice (D) is not true.
(B) Choice (B) is illegal in some states and municipalities. Choices (A), (C), and (D) are all typical clauses found in rental leases.
(D) Choice (A) occurs when the tenant is evicted as a result of a lawsuit brought and won by the landlord to recover possession of the premises. Choices (B) and (C) are meant to confuse by mixing the word “eviction†with foreclosure terms.
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