Ohio real estate stuvia - Study guides, Class notes & Summaries

Three items tenants in common hold - ANSWER-1. Default 2.Shares are equal or unequal 3. No Survivorship Three items joint tenants hold - ANSWER-1. Specify 2.Equal 3. Survivorship How much is in an acre? - ANSWER-43.560 How much does a point equal? - ANSWER-One percent How much is in the recovery fund? - ANSWER-500,000-2 million How do you show ownership of a condominium? - ANSWER-Deed How do you show ownership of a co-op? - ANSWER-Lease/stock What are key words to lo...

What type of land use does NOT comply with the zoning restriction for its location, but is permitted because it benefits the public? - ANSWER-Conditional Use Conditional uses (hospitals, schools, etc.) usually do not comply with zoning limitations. loan amount - ANSWER-The amount the lender is risking is the loan amount, which is: Purchase Price - Down Payment = Loan Amount. What is NOT a feature of an FHA-insured loan? - ANSWER-no MIP insurance FHA loans use a mutual mortgage insuranc...

You are preparing a competitive market analysis on a vacant lot you are listing for sale. Which of the following approaches to value will be used in the development of estimated value? A. Cost approach B. Gross rent multiplier C. Income approach D. Sales comparison approach - ANSWER-D. sales comparison approach most applicable to the appraisal of vacant land Cost approach - ANSWER-used for special purpose properties such as a church. the economic belief that informed buyers will not...

Three items tenants in common hold - ANSWER-1. Default 2.Shares are equal or unequal 3. No Survivorship Three items joint tenants hold - ANSWER-1. Specify 2.Equal 3. Survivorship How much is in an acre? - ANSWER-43.560 How much does a point equal? - ANSWER-One percent How much is in the recovery fund? - ANSWER-500,000-2 million How do you show ownership of a condominium? - ANSWER-Deed How do you show ownership of a co-op? - ANSWER-Lease/stock What are key words to lo...

What type of land use does NOT comply with the zoning restriction for its location, but is permitted because it benefits the public? - ANSWER-Conditional Use Conditional uses (hospitals, schools, etc.) usually do not comply with zoning limitations. loan amount - ANSWER-The amount the lender is risking is the loan amount, which is: Purchase Price - Down Payment = Loan Amount. What is NOT a feature of an FHA-insured loan? - ANSWER-no MIP insurance FHA loans use a mutual mortgage insuranc...

every viewable web page of the website - ANSWER-When advertising real estate online where should the brokerage name be displayed? a. 40 b. 20 c. 20 d. 40 e. 20 f. 30 - ANSWER-How many hours are needed for the following: a. Principles and practices b. real estate appraisal c. real estate finance d. real estate law e. post licensing course within 1 year of passing exam f. continuing education Automatically suspended - ANSWER-If a real estate licensee fails to take all the required...

Broker - ANSWER-Any person, partnership, association, limited liability partnership, limited liability company, or corporation who, for a fee, sells, lists, leases, exchanges, negotiates, or otherwise deals in the real estate of others, or represents publicly that he does. Independent Contractor - ANSWER-A self-employed salesperson paid on jobs completed rather than hours worked and responsible for setting their own hours and paying their own taxes. An independent contractor is hired to perfo...

every viewable web page of the website - ANSWER-When advertising real estate online where should the brokerage name be displayed? a. 40 b. 20 c. 20 d. 40 e. 20 f. 30 - ANSWER-How many hours are needed for the following: a. Principles and practices b. real estate appraisal c. real estate finance d. real estate law e. post licensing course within 1 year of passing exam f. continuing education Automatically suspended - ANSWER-If a real estate licensee fails to take all the required...

Fiscal Policy - ANSWER-Treasury Department Monetary Policy - ANSWER-Federal Reserve Bond Truth In Lending Act - ANSWER-To provide standard disclosure procedures that all lenders must follow. Required so consumers will know exactly what they are paying for credit so they can compare Annual Percentage Rate (APR) - ANSWER-The relationship between the cost of borrowing money and the total amount financed, represented by a percentage Usury Lending Law - ANSWER-Charging an interest rate th...

Fiscal Policy - ANSWER-Treasury Department Monetary Policy - ANSWER-Federal Reserve Bond Truth In Lending Act - ANSWER-To provide standard disclosure procedures that all lenders must follow. Required so consumers will know exactly what they are paying for credit so they can compare Annual Percentage Rate (APR) - ANSWER-The relationship between the cost of borrowing money and the total amount financed, represented by a percentage Usury Lending Law - ANSWER-Charging an interest rate th...