Reign Supreme Scholarly || Enlightened.

Ricardo has left a gift of real property in his will to his son, Juan. Ricardo is the ________________________ and Juan is the ______________. correct answers Devisor , devisee Which factor influences property value and addresses questions such as, "What's the market like?" and "Are there more buyers than sellers, or vice versa?" correct answers Demand What percentage of loss would the seller have if he paid $18,000 for a vacant lot, built a home on the lot that cost $145,000, and the...

In most markets, in which month would a real estate downcycle typically start? correct answers November You have a listing agreement with Sam, which makes him your ______. correct answers Client Who has the ultimate responsibility for the sales agent's actions in Texas? correct answers The sales agent, and the sales agent's broker Licensee Dionne pointed out to her buyer client the items in the house she was showing that would be considered real property. One of the key determinants, ...

In Texas, whose responsibility is it to supervise associated licensees and review transactional paperwork and advertising? correct answers The Broker's In several states, married couples usually hold property as ______. correct answers Community property What are improvements with regard to property? correct answers Artificial attachments to land that include items such as fencing, buildings, and walkways Both the buyer and the seller have to sign the purchase and sale agreement in ord...

When performing a market analysis, given the adjusted sales prices of three comparables, which comparable would you weigh most heavily? -The one that had more upward adjustments than the others -The one that required less adjustment -The one with an adjusted sales price higher than the actual sales price -The one with the adjusted sales price lower than the actual sales price correct answers The one that required less adjustment **The comparable that required less adjustment overall (includ...

Define Broker correct answers Any person, partnership, association, or corporation who, for another, and for compensation of any kind, negotiates any form of real estate transaction. Responsibilities of a Broker correct answers Supervision of and responsibility for activities of associate brokers and salespersons who work for the broker. Must serve the public with honesty and competency. Which can work independently? Broker, Associate Broker, or salesperson? correct answers Only a Broker...

To obtain financing to fund a cooperative purchase, a buyer will apply for? correct answers Share loan One issue with guiding buyers toward or away from an area because of perceived school quality is that school quality is often used as a proxy for? correct answers Race Which of the following was designed to monitor whether financial institutions were adequately serving the credit needs of their communities and not engaging in redlining? correct answers HMDA Home buying programs for Lon...

Addendum correct answers When Dashiell received the purchase offer for his bungalow, he was surprised to see a page added to the contract requesting that an attorney review the contract. What is Dashiell looking at? Place a lien on the property Unpaid taxes become a lien on real estate. correct answers What might the government do if property owners fail to pay taxes on their property? Ajit may be liable if he operates in a state that requires licensees to make a reasonable effort to di...

What type of agency exists because of the actions and behavior of the parties? Action agency Behavioral agency Express agency Implied agency correct answers Implied agency Which entity ensures that contractors perform their work according to code by inspecting their job sites? City hall The attorney general The building department The secretary of state correct answers The building department The secondary mortgage market is comprised of _________________________. FNMA, GNMA...

What method is most expedient when asking GREC to investigate a complaint? correct answers A sworn written request for investigation of a complaint against a licensee, instructor, or license applicant is most expedient. In terms of encumbrances, what's a license? correct answers A license is permission to do something on another's land without actually possessing any interest or ownership in the land. What type of taxation does a limited liability company enjoy? correct answers LLCs enjo...

Cassie is helping her buyer client, Gus, prepare for closing. What should she encourage him to verify as soon as he receives the form? correct answers That the borrower and seller names, the property address, and the sales price are accurate and spelled correctly The ______ clause in a deed of trust allows the lender to foreclose non-judicially. correct answers Power of sale -The power-of-sale clause can be understood as the borrower granting to the lender a right to sell the property in c...