Deed in lieu - Study guides, Class notes & Summaries

All of the following EXCEPT ONE are true of "Chattels" a. Personal Property b. Real Property c. Movable Property d. Applied to slaves and women before their emancipation - Answer- B. Real property A purchaser to whom a deed conveys real estate can be called a: a. Grantee b. Lessor c. Grantor d. Devisee - Answer- A. Grantee Which of the following types of deeds carries the least warranties or representations of title? a. General Warranty Deed b. Special Warranty Deed c. Deed in...

MO REAL ESTATE EXAM SMART EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED/ Under a Listing agreement, who would be the client? The Salesperson The broker The Seller They Buyer - -The Seller A property was sold by a foreclosure sale. The sale did not produce enough money to satisfy all the debts on the property. What could the creditor who weren't paid now file? A deed in lieu of foreclosure An estoppel certificate A deficiency judgement A blanket Mortgage - -A deficien...

BOB HOGUE SALES ASSOCIATE EXAM REVIEW WITH VERIFIED SOLUTIONS What is the “Net Operating Income” (NOI) in real estate? The total income from a property minus the operating expenses. What is a “recourse loan”? A loan where the borrower is personally liable for repayment, even if the collateral is insufficient. What is the role of a “closing agent” in a real estate transaction? To facilitate the closing process by preparing documents, managing funds, and ensuring all...

Arkansas Real Estate Exam Questions and Answers Already Passed Homeowner Dean owns the Northwestern 1/2 of the Northwestern 1/2 of the Northeastern 1/4 of the southwestern 1/4 of the south western 1/4 of section 31. how many acres is that property? A. 5 acres B. 10 acres C. 80 acres D. 2.5 acres 2 x 2 x 4 x 4 x 4= 256 640/256= 2.5 D. 2.5 acres Seller Gareth is certain there are no clouds on his property's title. What type of deed should he provide buyers to show his assurance of title? A...

Phil owns shares in a corporation that gives him the right in a unit of a building that is owned by the corporation. Phil lives in a... A) condo B) cooperative C) leasehold estate D) timeshare - b Suellen meets with licensee Nick to discuss selling the home where she has lived for 30 years. Suellen wants to purchase a condo in a new community and have enough to buy some new furniture without going into debt. She tells Nick she needs to make $215,000 on the sale. Anything he can get over ...

Flipping is a scheme where several people each purchase a property within the neighborhood and then sell the properties to one another, inflating the price of the home with each sale. - False YTD paystubs will be requires from a borrower that is self-employed (schedule C) - False A borrower requesting a jumbo loan will qualify for an agency loan - False Trailing spouse income can be used for qualifying purposes. - False The following are types of renovation mortgages - FNMA Homestyle and FHA 203...

Xinnix Ground School Exam Questions With Answers Flipping is a scheme where several people each purchase a property within the neighborhood and then sell the properties to one another, inflating the price of the home with each sale. False YTD paystubs will be requires from a borrower that is self-employed (schedule C) False A borrower requesting a jumbo loan will qualify for an agency loan False Trailing spouse income can be used for qualifying purposes. False The follow...

When a deed in lieu of foreclosure is given to a lender, which of the following is true? - correct answer Time and cost are less B buys land from W using a deed of trust as security for the carryback. B makes all the payments except the final three and is now in default. W does nothing and decides not to foreclose until later. By doing this W is exercising his right of: - correct answer Forbearance A commercial building is sold in a foreclosure for $100,000 less than the balance due th...

Mississippi Real Estate License Law Questions and Answers 100% Pass Who is required to have areal estate license? Anyone advertising, selling or leasing property on behalf of others or carrying out real estate business on behalf of others. Who is exempt from having a real estate license? 1. Attorneys at law in the performance of primary or incidental duties as such attorneys at law 2. Any person holding in good faith a duly executed power of attorney from the owner, authorizing the ...

Xinnix Ground School Exam Questions With Answers Flipping is a scheme where several people each purchase a property within the neighborhood and then sell the properties to one another, inflating the price of the home with each sale. False YTD paystubs will be requires from a borrower that is self-employed (schedule C) False A borrower requesting a jumbo loan will qualify for an agency loan False Trailing spouse income can be used for qualifying purposes. False The follow...