Nj real estate - Study guides, Class notes & Summaries

PSI Real Estate State Exam (NJ) Question and answers rated A+ 2023/2024 C. an involuntary lien - correct answer When a land owner uses his land as security for a loan, the encumbrance created is called. C. Question the seller to any known defects - correct answer If an owner wants to list a property for sale "as is," the listing agent should A. licensee must hold a timeshare license - correct answer According to the New Jersey Real Estate Time Share Act, if a licensee is selling a times...

PSI NJ Real Estate Exam Updated 2024/2025;Actual Questions and Answers Verified 100%(ACE in your NJ PSI 2024 test) PSI NJ Real Estate Exam

NJ Real Estate Exam Questions with Correct Answers Branch Office - Answer-broker's additional place of business commingling - Answer-mixing broker's money with that of others duplicate original - Answer-copy of a real estate contract with original signatures probation - Answer-least severe discipline by the real estate commission A licensed salesperson is allowed to - Answer-leave one broker and affiliate with another Under some circumstances, a real estate office may be in th...

A buyer and seller agree to prorate the cost of lawn maintenance, cleaning fees, and related services on a property. The cost prepaid by the seller is $450 for the month of June. The closing date is June 20, with the seller paying for the day of closing. How much does the buyer owe? B. 150$ The seller has into a the listing appointment the seller asks the broker not to disclosure the period treatment repair since they're know corrected the broker should B. Insist that the seller disclose the...

Which of the following is a permitted free offering? o- A. A complimentary home warranty with every listing B. A coupon for a discounted commission on listing services C. A free dinner for attendees at a homebuyers' evening seminar D. Free use of a local moving van for all listings - C. A Free dinner for attendees at a homebuyers' evening seminar Depreciation usually applies to . A. the building only. B. the land only. C. both the land and the building. D. income obtained from the bui...

According to New Jersey License Law, A licensee who wants to sell property that the licensee owns MUST? a) list the same property with another licensee in the same office b) disclose the ownership interest in any advertisement of the property c) disclose the ownership interest in any notice submitted on the listing to the MLS d) disclose in the contract of sale that the seller holds a New Jersey Real Estate license d. disclose in the contract of sale that the seller holds a New Jersey Real ...

NJ Real Estate Exam Questions According to New Jersey License Law, A licensee who wants to sell property that the licensee owns MUST? a) list the same property with another licensee in the same office b) disclose the ownership interest in any advertisement of the property c) disclose the ownership interest in any notice submitted on the listing to the MLS d) disclose in the contract of sale that the seller holds a New Jersey Real Estate license d. disclose in the contract of sale that th...

Seller A entered into an option contract with Buyer B. The contract allowed for a price of $200,000 which Seller A honor for a 12 month period exclusively for Buyer B. This would be an example of a - a unilateral contract in which only seller B has made a promise to perform. The purchased price for a new home was $230,000. The buyer put down 20%, and the balance was a mortgage for 80%of the purchase price. The appraised value at the time of closing was $220,000. What will the buyer pay for one ...

A tax assessor determined that a commercial building with a 3.5% mortgage has a market value of $400,000. If the assessed value is 60% of market value and the tax rate is 63 1/2 mills, what is the annual tax? A. $5,305.50 B. $8,837.50 C. $15,150.00 D. $25,250.00 - C. 15,150.00 Which of the following statements about airborne radon is TRUE? o. A. it has an easily detectable odor. B. its only found in older wood frame structures. C. is inexpensively detected and mitigated. D. itis not ha...

NJ Real Estate practice Exam Questions with Correct Answers Who must be licensed? - Answer-Anyone who takes part in a real estate transaction in NJ for another person for a fee, commission, or other valuable consideration Real Estate Commission - Answer-Composed by 8 members appointed by the governor, 5 r/e brokers who have been licensed as such for at least ten years, 2 members are chosen from the general public, and one member represents a department of the state government Classes o...