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Section 13 - REAL ESTATE FINANCE

Terms in this set (5)

Bob who is buying a house, has substituted a buyer to serve as a cover so that the owner doesn't know Bob is involved. This buyer is known as a

(A) Straw buyer
(B) Substitute buyer
(C) Replacement buyer
(D) All of the above
Straw buyer
A____________is typically, individually owned multi-unit dwellings however, the common areas, such as hallways and recreational facilities, are jointly owned
(A) Condominium
(B) Coop
(C) Rental
(D) Both A & B
Condominium
In order to qualify for a reverse mortgage, you must meet which of the following requirement(s)?
(A) All borrowers must be 62 or older.
(B) Subject property must be the primary residence
(C) Must be Single Family Residence, 2-4 units, or CONDO.
(D) All of the above.
ALL OF THE ABOVE :

- all borrowers must be atleast 62 years old
- subject property must be the primary residence
- must be a single family residence, 2/4 units or condo
Which of the following is NOT an approach for real estate market analysis?
(A) income approach
(B) cost approach
(C) contribution approach
(D) sales comparison approach
Contribution approach
The most common type of mortgage?
Full documentation mortgage
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