Modern real estate - Study guides, Class notes & Summaries

Modern Real Estate Quiz QAs questions and answers | accurate and verified with rationales | updated 2024 | graded A+ | guaranteed pass

Modern Real Estate Practice in Illinois/ 132 Qs & Ans/ . Terms like: accrued item - Answer: on a closing statement, items of expense that are incurred but not yet payable, such as interest on a mortgage loan or taxed on real property. acknowledgement - Answer: a formal declaration made before a duly authorized officer, usually a notary public, by a person who has signed a document. actual eviction - Answer: the legal process that results in the tenants being physically removed from the l...

commercial real estate includes all of the following except A. office buildings for sale B. apartments for rent C. retail space for lease D. fast-food restaurants for lease - correct answerB. apartments for rent in general, when the supply of a certain commodity increases... - correct answerprices tend to drop All of the following factors tend to affect supply except A. the labor force B. construction costs C. government controls D. demograhics - correct answerD. demograhics fa...

Brokerage - correct answer The business of bringing people together in a real estate transaction. Broker - correct answer A person or company licensed to buy, sell, exchange, or lease real property for others and to charge a fee for their services. Sales Associate/Associate licensee - correct answer A person who performs real estate activities while employed by a licensed real estate broker. Real Estate Licensee - correct answer A person who the skills and knowledge to be licensed as a ...

Modern Real Estate Test answers 2024

NC Modern Real Estate Test questions and answers | accurate and verified with rationales | updated 2024 | graded A+ | guaranteed pass

Modern Real Estate Test Verified and 100% Correct Q & A, Complete Document for Exam

Adaptation correct answers Concerns fixtures. How an item fits can determine whether the item is personal property or real property. If an item is "made" for a specific spot, it is a fixture. Ex: window shades are usually fixtures as they are made to fit inside the window frame. Agreement of Parties correct answers Most important test of whether an item is a fixture or not. If you are not sure if an item is considered to be a fixture, clarify in a contract w buyer & seller. Air righ...

Valuation process A systematic procedure used in the valuation of real property. Steps: 1: Define the problem 2:Determine scope of work 3:Gather, record, and verify the data 4:Determine the highest and best use 5:Estimate the land value 6:Estimate value by each of the three approaches (if applicable) 7:Reconcile the estimated values into the final opinion of value 8:Report the final opinion of value Client The party or parties who engage, by employment or contra...

Modern Real Estate Test answers