Final Exam: Real Estate Real Estate Express
At least that goes month to month is known as
an state from period to period
Madison Davidson negotiate it for a $30,000 loan with $200 monthly payments,
plus 9% interest. in this case what is the monthly interest in the first month
$225
1st you take $30000 in multiply it by 9% for the total annual interest paid or $2700.
Divide that by 12 months for the total of $225 per month entries payment
Typically a listing broker is usually considered to be?
a fiduciary (agent) of the seller.
A section
[]A square normally 1 mile on a side.
[]The Land Ordinance of 1785 divided townships in the United States into 36 sections.
An owner of a 12 unit apartment building lived in one of the apartments. The
owner refused to rent to a person because of his national origin. Based on
Federal Fair Housing Laws, does the prospective tenant have a valid complaint?
Yes because it was a 12 unit apartment building
Several legal steps must sometimes be taken before a creditor can have his
outstanding debt satisfied through the sale of the debtor's property. Which of the
following is not one of the steps in the process
Writ of persecution
Property owner of Livia does not like how much she pays in property taxes what
may she object to( and have a chance of winning)?
The assess value of her property
A point, line, or surface from which elevations are major is known as the
Datum
A loan company was loan applicants a particular insurance company, which in
turn paid the loan company a referral fee. This is:
illegal, since the Real Estate Procedures Act prohibits kickbacks
A property was assessed at 25% of value with a text rate of $12 per hundred. If
the taxes totalled $11400 what was the value?
$380,000
Divide the total taxes ($11400) by the rate per hundred ($12) for a total of 950. Multiply
that by $100 for the total of $95000, which is 25% of the value. Then divideby $95000
by 25% to obtain a 100% value of $38,000
If a borrower must pay $6000 for points on a $150,000 loan how many points is
the lender charging for this loan?
4 points
$6,000÷$150,000=.04 or 4 point
A 3 year straight note was obtained at 10% per year interest pay first two years
was $42,000. The loan on the house was 75% of the value. What was the total
value of the property?
$280,000
, -if 2yrs=$42,000 then 1yr=$21,000.
-At 10% the principal balance is $210,000
-since the loan is for 75% of the home divide $210,000 by 0.75%=$280,000
A brokerage was paid a commission of 6% of the 1st $120000 of the sales price
and 4% of everything over a $120,000 what would the sell price be if the total
commission was $9000?
$165,000
@6% commission was $7,200 (0.06×$120,000).
sub %9,000 from total commission...leaving $1,800. Since rate was at 4%, divide by
$1,800, yielding $45,000. Then add $120,000; totalling $165,000
Broker Aubrey has a listing agreement with the seller Scarlett. one of Aubrey's
salesperson commits a license law by violation while interacting with Scarlett.
Aubrey
Could be responsible due to vicarious liability
Red lining deals with the conduct of?
Lending institutions
A person who dies without leaving a will is known as having died:
intestate
What is the principal federal statute that covers competition and is one of the
most important pieces of anti-trust legislation
The Sherman antitrust act of 1890
A house so for $350,000 the buyer made a 20% down payment. Monthly interest
on the loan was $1400 what was the interest rate on the loan?
6%
The current value of a property is $40,000. The property is assessed at 40% of its
current value for real estate tax purposes, with the equalization factor of 1.5 apply
to assessed value. If the tax rate is $4 per $100 of assessed what is the amount of
tax due on the property?
$960
First take $40,000 × 0.40 = 16,000 × 1.5 = 24,000 then 24, = 240 then, 240 ×
4= $960
A lending institution will allow is borrowers to spend 28% percent of their income
for housing expense what will be the maximum monthly payment allow for a
family with an annual income of $57,000 and no other debts?
$1,330
To find out of families in com divide $57,000 by 12 which = $4750 a month income take
$4750×.28 which = $1330 mortgage payment
The seller under a sell contract is known as:
The vendor
Kate and Bill secure a loan with a 75% percent loan to value ratio. The interest
rate was 7.125% and the term was for 30 years the 1st month's interest payment
was $477.82. What was the appraised value of the property
At least that goes month to month is known as
an state from period to period
Madison Davidson negotiate it for a $30,000 loan with $200 monthly payments,
plus 9% interest. in this case what is the monthly interest in the first month
$225
1st you take $30000 in multiply it by 9% for the total annual interest paid or $2700.
Divide that by 12 months for the total of $225 per month entries payment
Typically a listing broker is usually considered to be?
a fiduciary (agent) of the seller.
A section
[]A square normally 1 mile on a side.
[]The Land Ordinance of 1785 divided townships in the United States into 36 sections.
An owner of a 12 unit apartment building lived in one of the apartments. The
owner refused to rent to a person because of his national origin. Based on
Federal Fair Housing Laws, does the prospective tenant have a valid complaint?
Yes because it was a 12 unit apartment building
Several legal steps must sometimes be taken before a creditor can have his
outstanding debt satisfied through the sale of the debtor's property. Which of the
following is not one of the steps in the process
Writ of persecution
Property owner of Livia does not like how much she pays in property taxes what
may she object to( and have a chance of winning)?
The assess value of her property
A point, line, or surface from which elevations are major is known as the
Datum
A loan company was loan applicants a particular insurance company, which in
turn paid the loan company a referral fee. This is:
illegal, since the Real Estate Procedures Act prohibits kickbacks
A property was assessed at 25% of value with a text rate of $12 per hundred. If
the taxes totalled $11400 what was the value?
$380,000
Divide the total taxes ($11400) by the rate per hundred ($12) for a total of 950. Multiply
that by $100 for the total of $95000, which is 25% of the value. Then divideby $95000
by 25% to obtain a 100% value of $38,000
If a borrower must pay $6000 for points on a $150,000 loan how many points is
the lender charging for this loan?
4 points
$6,000÷$150,000=.04 or 4 point
A 3 year straight note was obtained at 10% per year interest pay first two years
was $42,000. The loan on the house was 75% of the value. What was the total
value of the property?
$280,000
, -if 2yrs=$42,000 then 1yr=$21,000.
-At 10% the principal balance is $210,000
-since the loan is for 75% of the home divide $210,000 by 0.75%=$280,000
A brokerage was paid a commission of 6% of the 1st $120000 of the sales price
and 4% of everything over a $120,000 what would the sell price be if the total
commission was $9000?
$165,000
@6% commission was $7,200 (0.06×$120,000).
sub %9,000 from total commission...leaving $1,800. Since rate was at 4%, divide by
$1,800, yielding $45,000. Then add $120,000; totalling $165,000
Broker Aubrey has a listing agreement with the seller Scarlett. one of Aubrey's
salesperson commits a license law by violation while interacting with Scarlett.
Aubrey
Could be responsible due to vicarious liability
Red lining deals with the conduct of?
Lending institutions
A person who dies without leaving a will is known as having died:
intestate
What is the principal federal statute that covers competition and is one of the
most important pieces of anti-trust legislation
The Sherman antitrust act of 1890
A house so for $350,000 the buyer made a 20% down payment. Monthly interest
on the loan was $1400 what was the interest rate on the loan?
6%
The current value of a property is $40,000. The property is assessed at 40% of its
current value for real estate tax purposes, with the equalization factor of 1.5 apply
to assessed value. If the tax rate is $4 per $100 of assessed what is the amount of
tax due on the property?
$960
First take $40,000 × 0.40 = 16,000 × 1.5 = 24,000 then 24, = 240 then, 240 ×
4= $960
A lending institution will allow is borrowers to spend 28% percent of their income
for housing expense what will be the maximum monthly payment allow for a
family with an annual income of $57,000 and no other debts?
$1,330
To find out of families in com divide $57,000 by 12 which = $4750 a month income take
$4750×.28 which = $1330 mortgage payment
The seller under a sell contract is known as:
The vendor
Kate and Bill secure a loan with a 75% percent loan to value ratio. The interest
rate was 7.125% and the term was for 30 years the 1st month's interest payment
was $477.82. What was the appraised value of the property
