Mini Test #2
Tommy, a licensed broker, sells a house and receives a commission of $21,600, which is 6% of the sale price, what is the sale price?
A 50 feet by 125 feet lot zoned for commercial use was sold for $455,000. What was the price per square foot?
Per capita and household income are significant determinants of land and its value and fall under the following category of forces affecting real estate value?
Physical and environmental
A comparative market analysis (CMA) resembles which approach to real estate valuation?
At closing, the title company will ask the seller to sign a document assuring that there have been no judgments, bankruptcies, or divorces involving the seller since the date of the title examination. What is the name of that document?
Evidence of title
Title insurance policy
Abstract of title
Affidavit of title
Midboro Property Management is contracted to receive 10% of the monthly rental income collected at the Dunbar Apartments. The monthly rent roll for the property is $55,000. One tenant only paid $250 of his $1,000 monthly rent and three tenants skipped out on their of $1,000 each rent. What will Midboro Property Management collect as their fee for the month in question?
An abstract of each tenant’s existing lease and a description of the property’s curb appeal are maintained in a property manager’s:
When Charles does not assert his rights when there is an encroachment on his property such as a neighbor’s garage straddling his property line, this is called
doctrine of laches
statute of limitations
parol evidence rule
General Obligations Law
Which is NOT considered chattel?
A broker may legally pay all or part of a real estate commission to:
the broker's own sales agent
a friend who refers a listing lead
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