Colibri Real Estate Final Exam
Questions And Answers With Verified
Solutions Already Passed!!!
land contract - ANSWER✔✔buyer pays seller to occupy and use property
net lease - ANSWER✔✔buyer pays rent and other expenses
gross lease - ANSWER✔✔buyer pays only rent
goes to heirs - ANSWER✔✔Tenants in common, 2 of 3 people die. Who gets the
property of those who died?
Tenant owns it in severality - ANSWER✔✔Joint Tenancy, 3 of 4 people die. Who
gets property of those who died?
Client - ANSWER✔✔Another word for principal
race, nat. origin, sex, color, religion, disability, familial status -
ANSWER✔✔Protected by Fair Housing Act
marital status - ANSWER✔✔Not protected by Fair Housing Act
Blockbusting - ANSWER✔✔telling homeowners that property values will be
declining because of ethical/racial makeup is changing
flat, paved parking lot - ANSWER✔✔real estate put to its highest use
puffing - ANSWER✔✔"This is the most prestigious street in town"
$5,000 - ANSWER✔✔maximum fine for first offense
name and broker - ANSWER✔✔an individual advertisement needs...
, statement that they are licensed - ANSWER✔✔a brokerage advertisement
needs...
48 hours - ANSWER✔✔if listing is submitted to MLS, must notify customer
within...
at their next meeting - ANSWER✔✔Licensee must deliver Consumer Info
Statement when...
blanket mortgage - ANSWER✔✔a mortgage that covers 2 parcels of land
tenancy at sufference - ANSWER✔✔lease expires, tenants won't leave
easement in gross - ANSWER✔✔gas company intrudes on land to fix a gas line
the seller - ANSWER✔✔signs the deed at a closing
listing agreement - ANSWER✔✔least likely to require a legal description
let the client know - ANSWER✔✔agent takes on a listing, decides to buy house for
themselves
honesty - ANSWER✔✔Open house, declined agency relationship... What does the
agent owe the person?
disclose it to the buyers - ANSWER✔✔leak in the house, seller is trying to hide it
but the agent finds it
listings stay with brokerage - ANSWER✔✔agent switches brokerages, what
happens to their listings?
net listing - ANSWER✔✔a seller wants a certain amount, the rest of the money
goes to the agent as commission
redlining - ANSWER✔✔refusing to make loans in a minority neighborhood
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