Prorations - Study guides, Class notes & Summaries

Colorado Real Estate Exam Prep Latest 2024 Already Passed An out-of -state investor sells a property in Colorado. The closing entity must withhold up to 2 percent of the selling price as possible income tax liability The Closing Instructions form must be part of every contract According to statue, "good funds," include a tellers check from savings and loan All of the following must be disclosed to a tenant by a property manager EXCEPT: Disclose the name and address of the landlord Accordi...

Escrow Sample Test – Utah 100% Correct Score An Escow is an arrangement that: (Select all that apply) (A) holds documents (B) holds funds (C) creates documents to affect a transfer of interest in a property (D) acts as an attorney (E) is responsible for guaranteeing funds - Correct Answer ️️ -(A) holds documents (B) holds funds (C) creates documents to affect a transfer of interest in a property (E) is responsible for guaranteeing funds When is it necessary to have closing docum...

South Carolina Exam Prep: Closing Details Practice Questions and Answers What are the two ways a closing or settlement can be conducted? - Correct Answer ️️ -Face to face or escrow closing What is a face to face closing? - Correct Answer ️️ -Parties exchange documents and sign papers in a face to face setting What is an escrow closing? - Correct Answer ️️ -Prior to closing, the closing agent orders and reviews documents. Parties don't meet at all, paperwork is handled by esc...

Georgia real estate exam Questions With Verified And Updated Solutions. Easement by prescription - answerEasement acquired by continuous open and hostile use of the property for the period of time prescribed by state law Easement by necessity - answerEasement allowed by law as necessary for the full enjoyment of parcel of real estate .(right of ingress and egress over a grantors land) Rescission - answerThe practice of one party canceling or terminating a contract. Mortgagee - answerThe b...

Real Estate Final Exam | 100 Questions| AcZoning is under the control of: - ANSWER government agencies. A contract that is binding and enforceable in a court of law is said to be: - ANSWER valid. Escrows base monthly prorations on how many days? - ANSWER 30 The area of a rectangular lot that is 50 feet wide by 100 feet deep is: - ANSWER 5,000 sq. ft. For about how much assessed value is the Homeowner's Property Tax Exemption? - ANSWER $7,000 Misuse of the real estate appraisal re...

A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they can buy a house for - ANSWER $300,000 What facts need not be disclosed in a real estate transaction? - ANSWER The property was the site of a homicide. What is a good graphic to show a seller that there will be more activity if the property is competitively priced? - ANSWER The pricing pyramid A home sells for $310,500. Expenses of the sale are $4,800. The brokerage fee is $18,630. Prorati...

A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they can buy a house for - ️️$300,000 What facts need not be disclosed in a real estate transaction? - ️️The property was the site of a homicide. What is a good graphic to show a seller that there will be more activity if the property is competitively priced? - ️️The pricing pyramid A home sells for $310,500. Expenses of the sale are $4,800. The brokerage fee is $18,630. Prorations...

If the buyer is assuming an existing loan on the property, which of the following is prorated at closing? correct answers interest only What law requires the lender to show the APR? correct answers reg. z In what type of installment agreement does the buyer make payments for the right to possession, but does not receive the title until most or all of the terms have been met? correct answers land contract Quiet enjoyment refers to: correct answers arrangement between landlord and tenant ...

45 Hour Post Licensing Exam |100 Questions| With All Correct Answers. A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they can buy a house for $300,000 What facts need not be disclosed in a real estate transaction? The property was the site of a homicide. What is a good graphic to show a seller that there will be more activity if the property is competitively priced? The pricing pyramid A home sells for $310,500. Expenses of the s...

45 Hour Post Licensing Exam |100 Questions| With All Correct Answers. A married couple have prequalified for a $240,000 conventional mortgage. If they put 20% down, they can buy a house for $300,000 What facts need not be disclosed in a real estate transaction? The property was the site of a homicide. What is a good graphic to show a seller that there will be more activity if the property is competitively priced? The pricing pyramid A home sells for $310,500. Expenses of the s...