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New York Real Estate Salesperson (REEDC)
Terms in this set (346)
as a real estate sales person, i am practicing
as a property manager i am practicing
in estate planning i am practicing
if its my intention to protect my client,usually the seller,from the vicarious liability, of another licensee, violating the laws of licensure, i should always give out my listings, to other licenses as brokers agents, or sub agents ?
if i share the listing on a property, with your, broker, and give you the opportunity, to make the sale, your broker just became my
if one broker is representing both the purchaser and the seller in the same transaction, you would call this?
what is the department of state concerned, when a real estate licensee, also embarks, upon the practice, of writing mortgage applications, as a mortgage rent? they are concerned about?
possibility of dual agency
i hire you to sell my house, you are my broker and i am your?
client or principal
it has been long standing, that my driveway crosses, over my neighbors property, you would call that
in the above question, which estate is dominant, mine or my neighbors
mine because, i benefit from easment
so what would you call, my neighbors estate
if a utility company has an easement over many properties?
easment in gross
if someone uses the property of another in a way that is open and notorious, exclusive and adverse to the best interest of the true owner, you would call this?
what are two other names in the questions above?
easement by prescription
for how many years would you have use of that persons property to make claim of ownership?
if a person has the right to cross over your property its an?
if a thing is crossing over your property line thats an?
if you buy materials from a supply house, and fail to pay them, they can file a materialmens line, unfortunately this student told materialmens lien isn't one of the choices
we talked about, a formal legal description, of an vld, what is one example, of a formal legal description?
section block and lot
meet and bounds
which description would not be formal legal description
street name and street address
who determines, what the real estate commission, will be on a particular deal?
sponsoring broker and client(seller)
if someone dies without having a valid will, he died?
if someone dies w/out having a valid will and the state cannot locate any heirs or creditors, that persons property reverts to the state through a process called?
what is the name, of the standardized closing statement, on settlement statement, required by respa 1974 called?
hud1= settlement statement
what is a synonym for proration?
whats the name of the deed, which gives the most legal promises, covenants, and warranties to the buyer?
full covenant and warantee
what is it called if i track back the successive owners of a piece of real estate, starting w/the current deed and working my way backwards in time?
chain of title of real property
a deed is a?
instrument that conveys a grantors interest
generally speaking, who creates the real estate contract, of sale
who signs the contract first
what does the buyer attach to the contract, after signing it
who holds the earnest deposit money from the buyer from the signing of the contract until closing?
sellers attorney in escrow
who signs the contract last
the fullest interest i can have in my ownership of real estate is called having a ?
unlike residential leases, where if you add a fixture, such as a celling lamp, it becomes part of the real property, in a commercial environment, its understood, that if you add cabinets, refrigerator units, etc that they are leaving, when the lease is over ,you would call this
tenants in common, is characterized by
rights of survivorship
in new york city, husband and wife, takes ownership as, ?
tenants in the entirety
what would you call it when one person buys a property, all by himself,herself
ownership in severalty
what would you call the owed of the government, to acquire, personally held real property for the benefit of the public?
a zoning ordinance would not require?
when i go to the building dept, and i want to put in extension on a house, or modify something, I'm making an application for?
if I'm turned down because my application does not meet the letter of the building code I'm going to make an appeal to the
zoning board of appeals
and if the zoning board of appeals approves my application I'm going to be granted a?
roof rafters are, _ in orientation, and establish, the pitch or the _ of the roof?
what are the vertical wooden members inside the walls?
circuit breakers, and fuse, both serve the same function, they are over current, protection devices
what is put on the outside of the studs to begin to weatherproof the house?
what is the minimum amperage for construction in new york state?
what is the standard voltage in the united states?
what is the r factor?
the lower part of the roof, which includes the soffit, and farcia is called the?
overhang or caves
bent pieces of metal that serve to waterproof a house are called?
you would call a, british thermal unit a measure of?
what is the name, of the refrigerant, that was destroying the ozone layer, of the atmosphere, the layer that protects us, from the ultra violet rays of the sun, which gives us skin cancer?
what is the law that regulates cfc's (freon)?
clean air act
what would you call, the first wooden member, to be laid down on the foundation wall,? it serves, to connect the concrete foundation, to the flooring system, of the house its the
when i build a house I'm going to have an architectural rendering of it, what is that called?
and I'm going to spell out how it is to be built along the lines of the blueprints what is that called?
what material was used for insulating mineral fiber now banned from use because it is a carcinogen ( cancer causing) ?
what is the name, of a colorless, odorless radioactive gas, is the byproduct of uranium in the soil?
percolation rate is the rate?
water moving through soil
a cma ,comparative market analysis is not an ?
an estimation of how much a property will sell for in a typical transaction is the?
the lowest price a seller will take, the highest price a buyer will pay, is called the ?
an apartment building, has a heating system which although, its in good condition, does not meet the needs, of its current tenants is?
which term best identifies, the most probable price, for which specified property rights should sell, to a knowledgeable buyer, in a competitive market?
what is a study, of recently sold properties, currently competing listings, monthly expired listings, buyers appeal, market position, assets and drawbacks, area market condition. recommended terms, market value, range?
comparative market analysis
what do you call people, who get into real estate offices, to make sure that all people, are being treated the same way?
if i have a disabled tenant, who wants to make a modification, what do i do?
let them at their expense then restore at lease
what was the year, of the first major federal fair housing legislation?
what was the one protected class in that piece of legislation?
what was the year, of the first major legislation, to directly affect, property ownership rights?
what would be an exception to the discrimination laws?
woman renting to women
what was the year of the second major piece of federal fair housing legislation?
what classes were protected under that legislation
in 1974 there was an amendment what classes were added?
disability and familial
I'm taking green customers only to green people neighborhoods this is?
I'm going into a neighborhood and inducing panic selling what is this called/
a banker decides not to lend in a community bc of the infusion of people of a particular race,religion, or nationality?
what is exempt, from federal fair housing laws?
there are never any exemptions, from fair housing laws, based on?
solicitation,request of the sale or lease, of property, due to a change in the ethnic structure, of a neighborhood is?
what is the age of majority in new york state, the minimum age to enter into a contract?
what is the name of the regulation that requires the lead paint disclosure?
i have to give, the protect your family from lead paint, in your home and the lead paint disclosure form, to prospective tenants, and buyers, if the building was constructed, prior to what year?
sometimes a condo association, will reserve, the right to be the first buyer, if you decide to sell?
right of first refusal
I'm going to rent an apartment from you for one week what type of leasehold estate is this?
estate for years
door ownership is what type of an estate?
how would you best describe ones interest, in a co op unit?
a mortgage that covers, and includes more than a single property, is called a?
a mortgage that finances both the real property and the personal property is called a?
what would you call a loan, that allows you to move, from one property to another? for instance, you find a house you really want to buy, but your first house, isn't sold, so you use this type of loan, to make it up?
what would you call a financing situation, where the buyer receives financial assistance, with the down payment, closing cost, and in exchange, gives up some share, of the equity buildup, in the property?
shared equity loan
there is a type of mortgage, where the monthly payments increases, as your ability to pay more, improves, for instance for someone, who doesn't have much income, but has great income potential, for instance, someone who just graduated from law school, or medical school, this is a ?
graduate payment mortgage
when money is plentiful, what happens to interest rates?
they go down
a transaction that involves the sale of property to free up the liquid assets that are trapped in the real estate and lease of that same property is called?
what is the definition, of a wrap around mortgage ?
existing new mortgage
what is the act of charging interest over the legal limit?
what regulates the advertising of consumer loans or the terms of lending?
a straight term mortgage consist of payments that include?
which named peril is not covered on an ho policy ( home owner) or a dp policy ( dwelling policy) ?
from the question above, from whom do you purchase, that insurance, flood insurance,?
federal emergency management agency
if i want a higher limit, of liability insurance, on my house and cars?
i would buy an ?
if i were a renter in order to protect my stuff and also give me liability insurance i would buy an?
which is the lien of highest priority?
real property tax
what does the municipal engineer office do?
design local projects
what government authority, oversees out fresh water drinking supply?
department of health
does the building dept write the building code or enforce it?
what government agency, over sees how the community is developed?
the planning board
homeowner policies which provide content coverage for apartment owners is the ?
what governmental body oversees mortgage brokers and mortgage bankers?
department of banking
the income that i earn, from getting out of bed in the morning, and going to work for example salary bonuses,commissions is called ?
the income that i earn, from rental income, is categorized as ?
the income that i earn from my paper assets is?
if i have rental properties, the income that i desire from renting out parking spots, closets in the basement my, coin up washer/dryer is?
we are taxed, on our real property according, to the value of the property, ad valorum and question is which value?
over how many years can you depreciate a commercial property?
how much is the capital gains tax incentive, for a single person,? example, if a single person, buys a home as his,her owner occupied residence, then sells it after 2 or more years, the first $250k is free of capital gains, taxation
and for a married couple?
husband and wife purchase a house, in the 60's for $50,000 the husband died, and the wife sold it for $300,000 how much of the profit, will be subject to capital gains taxation?
and when the government gives tax incentives, such as the example in the above question, or through depreciation, you would call that?
property types, which are exempt, from real property assessments are?
property types which are exempt from real property taxation are?
none for profit
for purposes of property tax, valuation a residential condominium, would be?
industrial and commercial parcels and most vacant land are considered?
non homestead property
each discount point, or discount points are generally, what percentage of the total, loan amount?
a building that includes condominium and cooperative ownership is called?
which group oversees management of a cooperative entity?
board of directors
with what state agency is the offering plan for a condominium or cooperative building submitted?
if a property manager, is giving attention, to a potential problem, before it really becomes a problem, you would call that
if a property owner is fixing a leaking faucet, what kind of maintenance is this called?
what is a pro forma statement
what is the use clause in a lease?
how can be used
commercial space is very often rented out using a ?
a lease for large unfinished space would be called a ?
in what type of rental environment would you find a percentage lease?
in a sublease arrangement, who is ultimately always responsible, to be sure the lessor, the landlord gets paid?
what determines the value of an asset in the past,present, and future?
time value of money $$$
the seller specifies, a net amount of money, he wants to receive upon sale, of a property all, monies above this net amount, are the brokers commission this is called?
net listing contract
its illegal in ny
a comprehensive checklist pertaining to the condition of the property including its structure and any environmental hazards in around property
must be provided b4 the seller acceptance of purchase property
property condition disclosure
example of special agent?
real estate broker
if an agent exaggerates, his,her experience in order to get a listing, this agent may be guilty of?
one person is responsible or liable for the actions of another person is?
u did something wrong + take punishment
if an agent meaning ,me, principal-client has a financial loss, because of the agents negligence, and failure to meet the standards of skill , care and diligence, the agent is liable, for any loss the principal may have.
this is called?
reasonable skill and care
when a principal, client does not stop an individual, from representing his,her interest, this creating a agency relationship, between the two
agency by estoppel
a type of colorless, or odorless, tasteless and radioactive gas?
occurs when competitors in a group or an industry conspire to charge the same or similar prices for services
are agreements, between a party selling, a product, or service with a, buyer, that as a condition of the sale, must buy another product, from the seller, or, the buyer will not buy a product, or use the service of another
this is a ?
tie in arrangement
only one broker list the property, if anyone else sells the property, during the contract term, the broker is legally, entitled to the commission
exclusive right to sell
buyers often state, i never sign anything with out approval of attorney,
then i must complete a?
a declaration form
refusal sign disclosure form
you own the land underground from, your house whatever, is underneath your home, you owe
belong to the owner of property, bordering a flowing body of water/river
the highest type of ownership to real property is ?
fee simple absolute
ownership possession, control for someones lifetime,
upon living and are lost at death.
example is. mr a gives his property, to his cat, and when his cat dies, everything goes to his friend mr. L
when title, to real property, is in the name of only one person, or entity, it is an estate ownership in ?
ownership in severalty
a form of co ownership, that includes the right of survivorship
a form of co ownership limited to husband and wife, with the right of survivorship?
tenancy by the entirety
a claim or a charge against the property of another?
is a specific lien filed by a person who provides labor to a property
called commercial easements in gross. the government .and agency of the government. or a public utility usually owns this type of easement
its also called?
easment in gross
the land that benefits from easement appurtenant is called?
the land that must suffer and allow the use is called?
when land has no access to roads, and is land locked?
easement by necessity
when a developer in the plan, sets aside, a portion of land, for a common area, parks or sidewalks this practice, is called dedication of the land
easement by grant
any word with developer,
answer is always?
combining the dominant, servant lands into, one tract is called?
the situation in which the tenant continues to occupy property after lawful authority has expired
estate at sufferance
a tenant who does not leave upon expiration of the lease
an oral lease for more than one year cannot be
legally enforced in court
when a landlord takes matters into his own hands, with out the aid or control of the court system, and removes the tenant from the premises
who must sign the deed?
abstract of title?
in chronological order
respa deals mainly with
the seller and the buyer are not related by blood or marriage?
arms length transaction
the division of expenses and income between buyer and seller
it is the document used to convey/transfer title legally to real property
its also called instrument of conveyance
when a person dies and leaves no valid will
the buyer or buyers lender,bank requires a full staked, survey, to ensure that no encroachments exist. the final survey document, is a type of blue print showing measurements, boundaries and, area of a property
only lawyer can do letter of opinion,abstract of title
foreign investment, in real property tax act
who should pay preparation of a new deed?
who must sign the deed?
the grantor/ the seller
who signs first and why?
if a broker prepares these documents, from scratch ,deed, it could constitute, the illegal practice of law
the term of office of a council member is four years
new york city council
is in charge of hearing and deciding
zoning board of appeals
my uniform fire prevention and building code follows the national building code
one of the functions of a municipal town engineer is to
oversee the road construction
who provides certificate of occupancy (co)
local building dept
sometimes the seller participates, in the financing of a property, and a form of seller financing
installment land contract
the closing must take place on or about the exact date stipulated in the contract
u have to close on this date on or about within 30 days
time is of the essence
a deposit, that a buyer makes, at the time of submitting an offer, to demonstrate, the true intent to purchase
earnest money deposit
a court instruction, requiring a defaulting party, to a contract, to buy and sell real estate, property to specifically perform, her obligations, under the contract is?
enabling the lender, to declare the, remanding balance, immediately due, and payable, if the borrower is in default
entitling the lender, to declare the principal balance, immediately due and payable, if the borrower sells the property, during the mortgage term. this clause makes the mortgage unasumable with out the lenders permission
the borrower in a mortgage loan is personally liable for payment, of the note, when the proceeds of a foreclosure sale, do not satisfy the balance due to the lender its ?
the mortgage lender, draws up a document, called a satisfaction of mortgage, when the mortgage is paid in full
recording the mortgage
each point that the lender charges cost someone 1% of the loan amount, paid at the time of loan closing
new york state, has usury laws, that fix maximum allowable interest rate
a walls degree of resistance, to heat transfer, also called r value
forced warm air system: a force warm air system consist of a furnace that, contains a fan or blower
forced warm air system
a device that switches off, electric power for a green circuit, when the current is above the capacity, of the system
what is the agency that oversees drinking water safety?
department of health
one of the biggest concerns about water safety is that highly corrosive water may contain?
the agency overseeing wetland protection is?
department environmental conservation
properties built before 1978 may have?
many homes constructed before 1973 probably contain?
the covering is repaired when_ is in a pipe or boiler covering
it can cause cancer in animals, but there is no definite evidence, to linking cancer in humans its?
draws air and any radon gas out from under the basement slab
synthetic odorless liquid, organic compound, and carcinogen, appearing in groundwater, soil
regulates the bulk storage of chemicals and petroleum both or above and underground is ?
department environmental conservation
good investor must read whole property off everything,
detailed economic analysis. that considers the cost of site development, construction financing, tax considerations ,rates of return on similar investments, and benefit to community
the amount of return, on a certain dollar investment, that a property will produce
the cost of replacing or reproducing the structure in case of a total loss because of an insured hazard
is the value of the property, based on its usefulness, to an owner, or investor, its?
value in use
the appraisal approaches to value,
1 sales comparison
2 cost approach
3 income approach
changes in surrounding land, use patterns resulting in increase, traffic air pollution and other hazard, nuisances?
volunteers, employees of federal programs, and people from civil rights groups. visit real estate offices, posing as prospective homebuyers, to see if race influences, the information or services, that the broken, or the salesperson, offers
prohibits discrimination in housing based on race,color,religion, or national origin/
federal fair housing of 1968
congress, passed amendments, to the fair housing act, adding two new protected classes, persons with mental, or physical disabilities, and, familial status.
1988 amendments of fair housing act
sex and human rights
housing and community development of 1974
which of the following is protected, only by n.y.c law but not protected, by the new york state, or federal law?
stay away, from harassing, the home buyers
an order issued, by the secretary of state, prohibiting licenses, from soliciting, listings in certain areas, of the state
non solicitation order
insurance coverage, for property damage, and liability loss, all in one premium.
insurance policy ,that includes, several types of, insurance is called package.
document attatched, to the policy that modifies, or changes the original policy, in some way
registered by department of state, who service residential mortgage loans, by receiving any scheduled, periodic payments, from a borrower for a mortgage is called?
mortgage loan servicer
a loan that does not meet federal reserve bank criteria, for funding the reason may be that the loan amount is a higher dollar amount, than the conforming loan limit,
a loan meets the criteria of federal reserve board is ?
whenever the question is a report answer is always
environmental impact statement
is the power of the government or its agencies, to take private property, for public use with compensation$$
a section of the real property law, addressing the purchase or lease, of vacant subdivided lands, sold through an installment, contract within or without new york.
if there are no located heirs or creditors/bank the state uses its power of Escheat and the property goes to the state/goverment
a local appointed board, that has the power to, review administrative rulings, made by the ,planning board or, another legislative body
zoning board of appeals
permission to use the land for a purpose that is prohibited under current zoning restrictions
permission to use the land, in a way that, is not normally allowed, by the dimensional, or physical requirements, of the current, zoning ordinance
utilization of land, that does not conform to use permitted by a zoning ordinance, for the area may be lawful or unlawful
non conforming use
a septic tank must be at least 50 feet from a well,: the absorption field, at least 100 ft from the well
the main carrying beam of a house, that spans the distance from one side of the foundation to the other.
is a still, or several wooden members fastened together, that spans the distance from one side, of the foundation to the other
the first wooden member of a structure ember of a structure used as the nailing surface for the floor system
wooden framing embers, used in the construction of floors, and ceilings
wooden framing members, used for forming the wall skeleton, of a structure
the concrete slab is poured directly on the ground and eliminates the crawl space on basement
slab on grade construction
the movement of water through soil
the concrete base, below the frost line, that support the foundation, of a structure
most important, foundation block
lowest part of a roof, that projects beyond the walls of the structure
overhangs, that are part, of a slope roof are ,called
a building that includes condominium and cooperative ownership in the same structure
why is the board of directors approval, soo important, to the cooperative purchase?
without their approval no one can buy any cooperative unit
the governing, and decision making board of a cooperative
board of directors
the developer who constructs a cooperative or converse a building into a cooperative corporation must file an?
describes the terms, under which the cooperative, gives permission, to a share holder before, making any changes, or improvements, to the unit the shareholder occupies?
to create a condominium the owner/developer of the property ( the declarant) signs a condominium?
before a new condominium or cooperative development is offered for sale a developer may want to know if there are buyers for the project before they go forward
cpsi stands for?
cooperative policy statement
the u.s agency that insures mortgage loans to protect lending institutions?
federal housing administration
occurs when the monthly payment is less than full interest and does not pay any principal
the loan contract, specifies that disbursements, be made as specified, stages of construction are completed
purchases contracts, often are contingent, upon sale of the buyers property
a type of seller financing, is a mortgage given by a buyer, to the seller, to cover part of the purchase price
purchase money mortgage
a mortgage, in which 2 or more parcels, of real property are pledge to secure, payments of the note
the shortfall, added back into the principal, causing the principal, to grow larger after payment, is made when a loan payment, amount is not sufficient, to cover the interest rate
the market in which lenders sell mortgages
it buys and sells mortgages
secondary mortgage market
the lender can receive interest, and a share of the money$ in return,
a type of mortgage, used in commercial lending, where the lender participates, in the profits generated, by a commercial property
shared equity mortgage
are events caused by weather, or humans that do damage
generally, lender favor homeowners, insurance policies, for a residential property?
the c map program helps people obtain insurance in which of the following areas?
covers expenses, incurred when business is suspended, due to a disaster related event
all risk policy
which of the following exempt from paying property tax
municipal town hall
which of the following, is not related to not homestead?
according to value, in new york, the real property tax, is based on the fair market value, of real property
calculation of real estate taxes
commercial, industrial, special franchise utility property, and vacant land they are all?
non homestead property
the land that people can live is?
if property owners believe that their properties assessed value is greater than the properties full value they may claim
in the transfer, what type of building, may flip tax be imposed?
the title to the property, as shown on the deed is in the name of the?
a cooperative ownership, is not a fee simple ownership, you don't owe property, ur a stock shareholder, u live in a propriety lease,
the shareholder, do not own real estate, but a proportionate number ,of shared of stock, in a cooperative corporative
the first phase of due diligence is?
a lenders collateral/security for a loan to purchase a cooperative apartment consist of which of the following?
share of stock and propriety lease
new york state collect a 1% tax from buyers who purchase a one two or three family home, or an individual condominium or cooperative unit for 1 million or more is?
must pay 1% more in taxes if home worth 1 million or more
the use of borrowed funds the larger the percentage of borrowed money the greater the leverage
using borrowed money to make more money
a method of protecting income, from taxation, for example, by accelerating, allowable depreciation,
legal method is, ?
small multi used buildings, combined different uses, under one roof is?
mix use buildings
percentage of income, that the investor gets back on an invesment
rate of return
whenever there is a question, on test with word, the developer, the answer is always
a long term lease of unimproved land usually for construction purposes
gross operating income, minus operating expenses, and debt service, ( cash flow) is
operating expenses, are deducted from effective gross income, the result of deducting operating expenses is ?
net operating income
an operating statement adjustment to reflect a potential change in income and expenses based on the investors knowledge of the real estate market
pro formal schedule or statement
the advantages of cash on cash flow is
all of the above answers
a property owner views the difference, between the rentable, and usable area in a commercial space as the?
lost areas are
hallway,lounges,common areas, bathroom,utility closet,corridor
usable foot , prorate share, of using the common area
which of the following is not related to common area?
for the whole floor space, what is not, generally divided into rooms is?
a lease, in which the rental amount, is a combination, of a fixed amount, plus a percentage, of a gross sale
defines how the tenant can and cannot use the space
states that the landlords lender, and future owners of the building, cannot terminate, the lease, as long as the tenant fulfills lease, obligations
call for increased cost to the tenant for different reasons at specified times during the lease term
lease escalation clause
which of the following is an example of active income/
a trade or business, in which the taxpayer but does not materially, participate
passive activity income
straight line method producing
non residential,commercial property is depreciated over 39 years
a type of income, tax depreciation, that allows investment property, to be deducted, in installments over a number of years
27 and a half years
straight line depreciation
the owner manager relationship, is formalized, by signing a property management agreement, this contract creates an, agency relationship, in which the owner, is the principal, and the property manager, is the agent for the purposes, specified in the agreement
the property owner, and the manager, negotiate the property managers fee,
base fee, and a percentage ,of the rents, actually collected
is an expense that is not predictable but to the needs of the property at any time
is a forecast of income, and expenses as may be reasonably, projected, over a short term, typically 5 years
requires a periodic check, of mechanical equipment, to minimize excessive wear, and tear from improper operation, an example is, changing the air filters, in air conditions, and furnaces
requires fixing, a non functioning interim, that as a tenant has reported
is a leaky faucet
what is the very first, document, you should fill out, with a new client, or customer?
agency disclosure form
what does the agency disclosure form mean?
questions about property
what should you do, if that client or customer refuses to sign, the agency disclosure form?
affidant terms of refusal
at what moment should you take out the agency disclosure form?
first substantive contract
do you need experience in the field to become a broker?
yes, 2 years and 3500 points
if your license is revoked, how long do you have to wait to re apply for it?
as a licensed salesperson, i can receive compensation from?
you would call the lender the?
you would call the borrower the?
i owe all of the fiduciary obligations to my client, or to my customer?
referring to the question just above, what is the possible penalty ?
one thousand dollars or one year in jail
violation of license law is a?
what is the term of real estate licensure?
if you are truly an independent contractor, what is it that your broker, can provide for you?
desk and phone
if a seller decides not to provide the purchaser with the property condition disclosure form, how much of a reduction in price does he have to give?
five hundred dollars
how many hours of continuing education, are required?
as a real estate salesperson, you have to take continuing education every?
every 2 years
if my license has expired, for how long can i continue to practice real estate sales?
in other words, what is the grace period?
for how long does a broker need to keep all of his or her paperwork and records?
if you mix your clients money with the office operating funds, it's called?
personal property that attaches permanently, to the land, or improvements and, becomes part of the real property is a?
i.r.s classifies real estate agents as?
if an agent works for the buyer your called?
if an agent is hired by 1 party your called?
compensation is determined through ?
possible penalties for breaking fiduciary duties not including which of the following?
mixing the funds and or money,of others with business of personal funds, its called?
advertisement by real estate brokers, must be truthful, the ads must not mislead, the public,all ads by a broker must indicate that, the advertisements in a broker must give the name and telephone of broker, ads that do not contain this is called?
when brokers pay any part of their compensation, to anyone who is not licensed, or who is not exempt from the license law is?
a kick back
one of the main purposes of article 12-a is to?
protect the general public
anything that is not real property, is called?
what is the purpose of a deed restriction?
to limit the use or appearance of a given property
a loan that constitutes a lien against real property?
a device that is part of a wiring system, that will melt and open the circuit, causing electric power to stop when overheating occurs?
who holds the down payment?
anything of value?
the buyer usually arranges, for a final walk through, on the day of, or immediately before closing?
role of licensee before closing
the tenant is entitled to ?
quite enjoyment of the premises
what is the lessor's consideration?
lesse's consideration is?
what type of agreement, allows one to have physical ownership of a property, yet not the right to sell it?
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Which value approach can be best described as determining the construction cost of a house, subtracting depreciation and adding the site value?
*One large difference between the traditional real estate market research and Ling/Archer's approach is that Ling/Archer suggest:
What are the types of valuation
A property sold last year for $100,000 and recently sold for $125,000. The increase in value was 20%.