Ohio real estate - Study guides, Class notes & Summaries

1 REAL ESTATE STATE EXAM FOR OHIO REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE/ Fiscal Policy - -Treasury Department Monetary Policy - -Federal Reserve Bond Truth In Lending Act - -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) - -The relationship between the cost of borrowing money and the total amount financed, represented by a percentage Us...

Hondros- Ohio Real Estate Principles and Practices Study Questions and Answers!! When may a person use the term REALTOR? - ANSWER after becoming a member of the National Association of Realtors What are advantages to a career in real estate sales? - ANSWER - Possibility of owning your own brokerage with additional training , education, and experience - potential for unlimited earnings - setting your own hours What is a disadvantage of a career in real estate sales? - ANSWER Not a stea...

Ohio Real Estate Exam Prep Missed Questions With 100% Correct And Verified Answers 2024

Ohio real estate (state-specific crammer)correct 100% 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 ...

Periodic Tenancy - ANSWER Leasehold estate for a duration of time, not a specific date. Alienation - ANSWER The transfer of ownership or an interest in property from one person to another, by any means. Allodial System - ANSWER The system of land ownership under which anyone can own land. Annexation - ANSWER Attaching personal property to land so the law views it as part of the real property Constructive Annexation - ANSWER Personal property associated with real property in such a wa...

Which would a buyer prefer: Land installment contract or purchase money mortgage? - ANSWER-purchase money mortgage - the buyer will receive the deed to the property on the day of closing. -A purchase money mortgage does not transfer any title to the buyer; rather, it is a method by which the seller finances the transaction. -In a land installment contract, the buyer does not receive the deed until the final payment is made. A land installment contract transfers only equitable title. spot ...

Ohio Real Estate Exam Prep Questions + Answers |UPDATED| May a consumer who has been harmed by a licensee acting under her license as a real estate salesperson or broker immediately file a claim for payment from the Real Estate Recovery Fund? *Ans* CORRECT ANSWER: No, the consumer must file a lawsuit, get a final judgment, and attempt to collect A listing agreement in which the agent may possibly be in competition with the client to see who can sell the house first is an exclusive *A...

Assignment - 1. When a person transfers his interests under a contract to another. 2. When a tenant transfers his right of possession, or other interest, in leased property to another person for the remainder of the lease term. Broker - Any person, partnership, association 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 - A self-employed salesperson paid on jobs complete...

Hondros- Ohio Real Estate Principles and Practices Study Questions and Answers! When may a person use the term REALTOR? - ANSWER after becoming a member of the National Association of Realtors What are advantages to a career in real estate sales? - ANSWER - Possibility of owning your own brokerage with additional training , education, and experience - potential for unlimited earnings - setting your own hours What is a disadvantage of a career in real estate sales? - ANSWER Not a ste...