Nj real estate co - Study guides, Class notes & Summaries

The period between 1860 and 1870 in the US saw the beginning of suburbanization, with the creation of small settlements beyond large cities. Which of the following cities exemplifies this early American suburbanization? a) Radburn, New Jersey b) Riverside, Illinois c) Lake Forest, Illinois correct answer: B Which system may be used for legal description purposes? a) US Government Survey b) Metes and Bounds c) Lot, block, and tract d) All of the above correct answer: D Fred French Co. v. ...

PSI NJ Real Estate Exam, PSI Practice Test, Complete Correct answers 2022.

The law which requires that transfers of real property ownership be in writing is known as the... - ANSWER-statute of frauds In a VA loan, there must be... - ANSWER-an approved appraisal When a land contract is entered into... - ANSWER-the buyer acquires equitable title A 5 bedroom, 1 bathroom residence is an example of what type of depreciation? - ANSWER-Functional Name 3 essential requirements for a valid deed... - ANSWER-1. The buyer and seller must be named 2. Words of Conveyanc...

An Appraisal made by a Certified appraiser is REQUIRED? - Answer WHEN THE BUYER IS USING A FHA LOAN TO PURCHASE Greatest advantage of using FHA financing when buyer plans to occupy? - Answer THE REQUIRED DOWN PAYMENT MAY BE LOWER THAN CONVENTIONAL LOANS What should buyer put in purchase offer to make sure they would NOT have to purchase, if they CANNOT obtain financing? - Answer Contingency Conditions does NOT create stigmatized property that may or may not be disclosed under the law of...

PSI NJ Real Estate Exam, PSI Practice Test, Complete Correct answers 2022.

PSI NJ Real Estate Exam, PSI Practice Test, Complete Correct answers 2022. Water Rights The terms "littoral," "riparian," and "appropriative" refer to A salesperson lists a property with a contract that allows for subagency and dual agency. The salesperson is an agent to the broker and a subagent to the principal. Depreciation is calculated based on the Cost of the building only. When a property owner uses his home as collateral for a loan and creates a lien in favor of the lender...

The law which requires that transfers of real property ownership be in writing is known as the... - Answer- statute of frauds In a VA loan, there must be... - Answer- an approved appraisal When a land contract is entered into... - Answer- the buyer acquires equitable title A 5 bedroom, 1 bathroom residence is an example of what type of depreciation? - Answer- Functional Name 3 essential requirements for a valid deed... - Answer- 1. The buyer and seller must be named 2. Words of Conv...

Who appoints the 8 members of the New Jersey Real Estate Commission? - Answer Governor Who makes the payments to a claimant from the Guaranty Fund? - Answer The state treasurer Agent Louis Lee is working with several people from his home town in Hong Kong. They sought him out because he speaks their native language. The Chans are anxious to purchase a house before the school year starts. Agent Lee listens to their needs and tells them, "I know exactly where you will be comfortable". Has ...

PSI NJ Real Estate Exam, PSI Practice Test, Complete Correct answers 2022.

PSI NJ Real Estate Exam, PSI Practice Test, Complete Correct answers 2022.