Real Estate

Real Estate Vocabulary (Guide to Passing the PSI Real Estate Exam)| 346 questions| with complete solutions Last document update:   ago

acceleration clause correct answer: A provision in a written mortgage, note, bond, or conditional sales contract that in the even of default, the whole amount of the principal and the interest may be declared due and payable at once. accession correct answer: Title to improvements or additions to real property is acquired as a result of the accretion of alluvial deposits along the banks of streams or as a result of the annexation of fixtures. accretion correct answer: Increase or additi...

Real Estate Final Escrow| 100 QUESTIONS| WITH COMPLETE SOLUTIONS Last document update:   ago

1 month/1 year CORRECT ANSWERS: 30 days=1 month / for escrow and proration purposes 1 year = 12 months, 52 weeks. 100-year flood zone CORRECT ANSWERS: The area has a 1 percent or greater chance of a major flood occurring in any given year. 17-day period after acceptance CORRECT ANSWERS: The number of days that buyers have within which to do their due diligence, order inspections, conduct investigations, and review any disclosures delivered by the seller about the condition of the proper...