Az real estate exam final - Study guides, Class notes & Summaries

AZ Real Estate Final Exam Questions and Answers Already Passed If a commission amount or percentage is NOT stated in the listing agreement: The broker would not be entitled to a commission Most homes in AZ are cold with legal descriptions that state: Lot and block In which of the following appraisal methods DOES an appraiser need to determine a dollar amount for depreciation? Cost Approach Rights of occupancy of an owner in a cooperative are based on: A proprietary lease If an apartment buil...

When is the acceleration clause used in an agreement for sale - Answer The seller may enforse the clause by foreclosing like a mortgage When a property tax lien is sold at auction, what is the Statutory period of redemption before a foreclosure can occur? - Answer 3 yrs What will not terminate a homestead exemption? - Answer Buying another property Which of the following actions would not transfer title to real property ? - Answer New city zoning ordinance

Accession Acquiring property when trade fixtures are not removed on or before the last day the property is rented. They become real property of the landlord. Fixture An article/item that was once personal property but had been attached to land or a structure so it is now real property. Tests of a fixture 1. Agreement 2. Intention (most important) 3. Attachment 4. Adaptation 5. Relationship 6. Cost (not a factor) Annexation Converting personal property to real property Chattel A...

AZ CE Shop Practice Test Questions And Correct Answers Which of the following is true about mortgage brokers? -They don't service the loan beyond placement -They originate their own loans -They've paid through fees from originating and servicing loans -They service the loan for it's entire lifecycle - answerThey don't service the loan beyond placement Janalynne is a designated broker setting up the main place of business for her employing broker. Before officially opening for busine...

Az real Estate final Exam with complete solution...

Accession Acquiring property when trade fixtures are not removed on or before the last day the property is rented. They become real property of the landlord. Fixture An article/item that was once personal property but had been attached to land or a structure so it is now real property. Tests of a fixture 1. Agreement 2. Intention (most important) 3. Attachment 4. Adaptation 5. Relationship 6. Cost (not a factor) Annexation Converting personal property to real property Chattel Also referred t...