Real Estate Paper 66

1

An acknowledgement is a statement that a party to a contract






2

James and Marie Pappas are looking to buy Mr. James’s house, which has 3 bedrooms, 2.5 bathrooms, and 2,550 square foot. A comparable house around the corner recently sold for $375,600. It has 4 bedrooms, 2 baths and 2,500 square feet. What is the value of Mr. James’s house if bedrooms are worth $15,000 and bathrooms are worth $7,500?






3

Under an exclusive agency listing, the realtor






4

A conforming mortgage is all of the following EXCEPT it






5

Lekha Chandra signed a contract of employment with Forest City Realtors. The contract includes a noncompete clause. Such a clause






6

Which of the following is NOT an encumbrance on a property?






7

Fitch Property Company is selling one of its office buildings. What will happen to the tenants in the building?






8

Seller financing is also known as a






9

In establishing the capital gains on a home sale, which of the following is subtracted from the sales price to determine the cost basis?






10

With a strict foreclosure,






Result

Total Questions:
Correct Answers:
Wrong Answers:
Percentage: