Real Estate Final Exam (157 Questions ) with
correct answers Graded A+
Terms in this set (157)
A real estate licensee has a buyer A customer.
agency agreement. What is the
seller in this
situation?
An optionor and an optionee make He must exercise his option under the terms of the option contract.
a
contract for an option on a
commercial piece of property. If
the optionee decides to exercise
his option, when must he
perform?
When can a landlord evict a If the tenant has loud parties, makes too much noise, and is
disabled blind or disabled constantly disturbing other tenants
tenant from the premises?
4. Broker Carr, with ABC Real There is not a relationship between the parties. Broker Carr
Estate represents the Seller and Broker Smith represents the Buyer.
Company, listed the property
with a seller. Broker Smith,
with XYZ Real Estate
Company, called Broker Carr, and
disclosed that he was a Buyer
Agent.
Broker Smith wrote a contract
with a buyer for the sale of the
property. What, if any, is the
relationship between the
buyer's
broker, the seller and the listing
broker?
,A buyer bought a property Enforceable
without telling the seller of his
intended purpose for the
property. The contract contains
no contingency clauses and it is
a properly executed contract.
After the closing, the buyer is
unable to obtain the zoning he
needs for his commercial
project. What is
the contract at this stage?
6. The seller and the buyer $1,130.14 debit the seller and credit the buyer
finally agreed to a purchase
price of $203,500 with the
closing to occur on June 15. The
taxes for the year in the amount
of $2,500 have not been paid by
the seller. (Taxes are paid in
arrears). How much would the
tax proration amount to, and
how would it appear on a
full settlement statement?
Base your answer on a 365 day
year, and the buyer is
responsible for the day of
settlement.
A seller listed his home for six 6/15
months on February 26. On
April 29, a buyer made an offer
on the property. The listing
broker
presented the offer to the seller
on April
30. The seller accepted the offer
on May 1, with the closing to
occur on June 15.
, Assuming the closing took
place on June 15, when did
the listing expire?
The sellers listed their $36,225. Debit the seller.
property for six months on
February 26 for $522,500. They
agreed to pay the listing
broker a 7% commission at
closing on the agreed upon sale
price. A buyer made an offer
on the
property on March 29 for
$510,000. The seller
countered the offer on April
1 at
$517,500, and the buyer accepted
the
counter offer with the closing to
occur on June 15. How much
commission did the
seller owe the listing broker,
and how would it appear on
the settlement statement?
The seller and the buyer agreed Loan balance $170,000; interest due $425
to a purchase price of $270,000
with the
closing to occur on June 15.
The seller's loan balance after the
June 1 payment was
$170,000. with an interest rate of
6%.The
monthly payment was $1,800
principal and interest. What was
the loan balance the day of
closing, and how much interest
did the
seller owe the bank?
correct answers Graded A+
Terms in this set (157)
A real estate licensee has a buyer A customer.
agency agreement. What is the
seller in this
situation?
An optionor and an optionee make He must exercise his option under the terms of the option contract.
a
contract for an option on a
commercial piece of property. If
the optionee decides to exercise
his option, when must he
perform?
When can a landlord evict a If the tenant has loud parties, makes too much noise, and is
disabled blind or disabled constantly disturbing other tenants
tenant from the premises?
4. Broker Carr, with ABC Real There is not a relationship between the parties. Broker Carr
Estate represents the Seller and Broker Smith represents the Buyer.
Company, listed the property
with a seller. Broker Smith,
with XYZ Real Estate
Company, called Broker Carr, and
disclosed that he was a Buyer
Agent.
Broker Smith wrote a contract
with a buyer for the sale of the
property. What, if any, is the
relationship between the
buyer's
broker, the seller and the listing
broker?
,A buyer bought a property Enforceable
without telling the seller of his
intended purpose for the
property. The contract contains
no contingency clauses and it is
a properly executed contract.
After the closing, the buyer is
unable to obtain the zoning he
needs for his commercial
project. What is
the contract at this stage?
6. The seller and the buyer $1,130.14 debit the seller and credit the buyer
finally agreed to a purchase
price of $203,500 with the
closing to occur on June 15. The
taxes for the year in the amount
of $2,500 have not been paid by
the seller. (Taxes are paid in
arrears). How much would the
tax proration amount to, and
how would it appear on a
full settlement statement?
Base your answer on a 365 day
year, and the buyer is
responsible for the day of
settlement.
A seller listed his home for six 6/15
months on February 26. On
April 29, a buyer made an offer
on the property. The listing
broker
presented the offer to the seller
on April
30. The seller accepted the offer
on May 1, with the closing to
occur on June 15.
, Assuming the closing took
place on June 15, when did
the listing expire?
The sellers listed their $36,225. Debit the seller.
property for six months on
February 26 for $522,500. They
agreed to pay the listing
broker a 7% commission at
closing on the agreed upon sale
price. A buyer made an offer
on the
property on March 29 for
$510,000. The seller
countered the offer on April
1 at
$517,500, and the buyer accepted
the
counter offer with the closing to
occur on June 15. How much
commission did the
seller owe the listing broker,
and how would it appear on
the settlement statement?
The seller and the buyer agreed Loan balance $170,000; interest due $425
to a purchase price of $270,000
with the
closing to occur on June 15.
The seller's loan balance after the
June 1 payment was
$170,000. with an interest rate of
6%.The
monthly payment was $1,800
principal and interest. What was
the loan balance the day of
closing, and how much interest
did the
seller owe the bank?
