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Revenue Management - Real Estate 2

Real Estate 2

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Which of the following actions is legally permitted?
a. advertising property for sale only to a special group
b. altering the terms of a loan for a member of a minority group.
c. refusing to make a mortgage load to a minority individual because of a po
. advertising property for sale only to a special group
. altering the terms of a loan for a member of a minority group
. refusing to make a mortgage loan to a minority individual because of a poor credit history
. d. telling a minority indiviudal that an apartment has been rented when, in fact, it has bot been rented
The Seller delivers the deed and the buyer pays the purchase price in the step referred to as?
. commitment
. underwriting
. warehousing
. closing
The approach to value that considers depreciation is the
. cost approach
. sales comparison approach
. income approach
. gross rent multiplier approach
A building permit may be issued without question even if the proposed structure violates exsisting
. zoning laws
. deed restrictions
. building codes
. setback requirements
For a real estate agency relationship to be enforceable, which of the following is NOT required
. The principal has the power to do what is being assigned
. The principal has the funds to pay the agent
. The agent must be authorized by a writted agreement
. The agent must be a real estate licensee
A variance is
. permitted either for the good of the public or to avoid an undue hardship for an owner
. is a legal nonconforming use that is appurtenant
. often subject to limitations and restrictions
. FHA insures the lender against borrower default
George Brown owns 150 acres of farmland and has posted NO TRESPASSING signs on the fence surrounding the prosperity. He can enforce this notice by virtue of his
. constitutional privilege
. right to exclude
. obligation of disposition
. surface rights
An oral agreement between a lessor and a lessee is leggally
. a valid tenancy for years
. unenforceable due to the statute of frauds
. a valid tenancy at will
. unenforceable because of the statute of limitations
Although the term purchase money mortgage applies to any loan that finances the purchase of real estate, it is commonly used to refer specifically to a
. loan taken back as part of the sales price by the seller
. refinance plan
. loan on property already owned that is used to finance the purchase of a second property
. loan that is packaged for sale on the secondary market
Any federally related loan may require the borrower to carry special insurance if the property is located in
. an earthquake zone
. a flood zone
. an ocean hazard district
. a desert
Owners who fail to exercise their right to stop a covenant-violator lose the rate to
. sue for specific performance
. sue because of laches
. participate in the owners association until the violation, which is a cloud on title, is cured
. some amount of money that the owners association will assess
An old gas station is an area that has been rezoned residential. The use as a gas station must
. be permitted in a new ordinance
. be torn down, or otherwise causedto become a residential use
. be restricted in some way in order to eventually tempt or cause, termination of the permit
. be used as a residence if it is to be used also as a gas station
A seller, anxious to sell, tells a cooperating agent during a sowing that the agent will be given a riding lawnmower if he brings an acceptable offer by the end of the week. All of the following are true in this situation except
. agent may accept the lawnmower because its not cash
. agent should report the incident to the listing broker
. agent would be in violation of the law if he took the lawnmower
. cooperating agent could legally receive the lawnmower from his broker
The right to occupy a property without interference for a specified period of time is known as a
. trespass
. prescriptive easement
. leasehold
. suit for possession
Which of the following applies to a tenant's legal right to possession of a leased property against the claims of ownership by a third party?
. statute of frauds
. covenant of seisin
. covenant of quiet enjoyment
. tenancy at will


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