Mn real estate - Study guides, Class notes & Summaries

MN Course 2 Exam Prep: Buyer Contracts and Financing Latest Update Graded A+ Buyer's agent The agent representing the buyer, and only the buyer, in a real estate transaction Buyer agency agreement An agency agreement between a buyer and an agent to provide representation; it explains the duties of the agent to the buyer and the duties of the buyer to the agent. Client The principal in a transaction who is represented by an agent Customer A person related to the transaction wh...

MN Real Estate Exam Prep Verified Solutions Real Estate Terminology What is a Bill of Sale used for? Options: a. To transfer real property; b. To transfer personal property; c. To transfer both real and personal property; d. None of the above Answer: b. To transfer personal property; What is a Buffer Zone used for? Options: a. To separate two compatible zoning uses; b. To separate two incompatible zoning uses; c. To combine multiple zoning uses; d. To cancel a zoning use Answer: b....

MN Contractors Exam (licensing quiz) Practice Questions and Answers (100% Pass) Who applies for a license? a)The owner of a sole proprietorship b)At least one general partner or managing employee of a partnership c)A Chief Executive Officer, responsible managing employee or qualifying person in a corporation d)All of the above - Answer️️ -D) All of the above A person can be a qualifying person for two corporations if at least 25% of each corporation has common ownership, or the seco...

Carmen was hired by the Navarreses to build a walk-in closet. She included a lien notice in the original contract. The Navarreses have provided final payment. What does Carmen need to do to remove the lien associated with this contract? - ANS - Deliver a lien wavier to the Navarreses. Which of the following might qualify for reimbursement from the Minnesota Petroleum Tank Release Cleanup Fund (Petrofund)? - ANS - Six years ago, Miles took corrective action to remove and clean up a leaking t...

Unit 3 - MN Real Estate Financial Instruments, Foreclosures and Foreclosable Liens, and Protection of Rights and Interests Minnesota Real Estate Taxes What is the Minnesota Mortgage Registry Tax computed as? Options: a. 0.23% of the mortgage amount; b. 1.65 per $500; c. $3.30; d. 10% Answer: a. 0.23% of the mortgage amount; Deed and Property Tax What is the minimum registry tax amount for a property? Options: a. $3.30; b. $1.65 per $500; c. The amount depends on the county; d. Th...

MN Course 1 Exam Prep: Licensing, Agency, and Contracts questions and answers latest top score. How many hours of education must an applicant for a salesperson's license take in Minnesota before sitting for the exam? - correct answers.30 (Course 1) How many hours of education must an applicant for a salesperson's license take in Minnesota before applying for a license? - correct answers.90 (Courses 1, 2, and 3) What's a passing percentage for the Minnesota sales...

MN Contractors Exam (licensing quiz) Questions with correct Answers Who applies for a license? a)The owner of a sole proprietorship b)At least one general partner or managing employee of a partnership c)A Chief Executive Officer, responsible managing employee or qualifying person in a corporation d)All of the above D) All of the above A person can be a qualifying person for two corporations if at least 25% of each corporation has common ownership, or the second corporation is a sub...

CE Shop Course 1 Final MN Questions Ad Answers With Verified Solutions Already Passed (GRADED A+)