Pa real estate 3 - Study guides, Class notes & Summaries

PSI PA State Real Estate License Exam – With All Verified Solutions (Expert Rated A+) PSI PA State Real Estate License Exam – With All Verified Solutions (Expert Rated A+) Which of the following is not a requirement of the Real Estate Settlement Procedures Act? - ANSWER-A limit is placed on the fees a lender can charge a borrower. According to the Real Estate Settlement Procedures Act, which of the following is not true? - ANSWER-Deposit money. Which of the following is in the corr...

Real Estate Practice Exam Questions and Answers 100% Pass 1. Brokerage definition... the business practice of bringing together the parties in a practice. 2. What are two examples of special use property? schools and cemetary 3. What is an example of functional obsolescence? bathroom 4. Principal definition... a consumer of real estate services who has entered into an agency relationship with a broker or another licensee employed by a broker. 5. Capitalization definition... th...

PSI PA State Real Estate License Exam – With 100% Verified Solutions (Rated A+) PSI PA State Real Estate License Exam – With 100% Verified Solutions (Rated A+) Requires the seller to provide notice to a purchaser about whether a structure on the land is entitled to support from the underlying coal. - ANSWER-Coal Notice Three conditions that must be met for a mobile home to be considered real estate - ANSWER-1. Mobile home is transferred in conjunction with and as a part of an assignme...

PSI Real Estate Practice Exam - Michigan (Chapter 1) Graded A+ Designated Agent ️A person authorized by the broker to act as the agent of a specific principal - common in dual agency relationships, two salespersons from the same company can represent opposite sides of the sale. Income Approach ️What approach does an appraiser take primarily for an investment property? 1.) "Personal Assistant" (Answer) 2.) "Agent-Assistant" 3.) "Proxy-Agent" 4.) "Broker-Assignee" ️Ch...

You decide to help negotiate the sales price of a buddy's place even though you don't yet have a license. After the sale he pays you $50 in appreciation of your efforts. Why would this be considered an illegal activity? Bc you can't accept any amount of compensation for negotiating the sales price of a home that isn't your own if you don't have a license. Linda is a real estate licensee in PA. She's selling her condo and will be buying a house. What is she required t...

PSI PA State Real Estate Practice Exam/ 90+ Qs and Ans/ . Terms like: Burdensome disclosure requirements are readily satisfied -Mitigation controls can be enforced regardless of ownership - Answer: Benefits of the UEAC True or False Pennsylvania, has abolished the common law concepts of dower and curtesy. - Answer: True Requires the seller to provide notice to a purchaser about whether a structure on the land is entitled to support from the underlying coal. - Answer: Coal Notice T...

1. Which of the following entries satisfies the requirement that an advertisement show that the broker is in the real estate brokerage business? A. J. Jones Realty B. J. Jones, Real Properties C. J. Jones, Real Estate Agency D. J. Jones, Real estate Ventures Answer: C All ads must indicate the name of the brokerage company followed by a term such as REALTOR, Realtist, real estate broker, or real estate agency. 2. A manager rents a unit to a tenant who later has a car accident and is conf...

How many people are on the Commission? correct answers Eleven How do people get on the Commission? correct answers Chosen by the governor for staggered five-year terms Are people elected or appointed? correct answers Appointed by governor What does the Commission need to do business? correct answers A Quorum (MAJORITY) of at least six people Where does the Commission meet? correct answers Harrisburg, Philly, Pittsburgh Specific powers and duties of Commission: correct answers 1. I...

How many months past the term can someone serve while they are finding a replacement? - ️️6 Failure to attend ___ consecutive meetings will forfeit their seat unless excused due to illness or family death. - ️️3 The commissioner's purpose is to provide _______, _______, and _______ support to the PA Real Estate Commission. - ️️administrative, logistical, and legal How many members are in the Pennsylvania Real Estate Commission - ️️11 How many members in the Commission a...