Blog

A broker’s newest sales associate brings in a listing for the sale of a condominium. In this transaction, the sales associate

A tax lien on property can hinder its sale because it is

A buyer agrees to purchase a house for $234,500. The buyer pays $2,000 as earnest money and obtains a new mortgage loan for $167,500. The purchase contract provides for a March 15 closing. The buyer and the sellers prorate the previous year’s real estate taxes of $4,880.96, which have been prepaid. The buyer has additional closing costs of $2,250, and the sellers have other closing costs of$1,850. How much cash must the buyer bring to the closing?

A business tenant has a percentage lease stating rent payment is the greater of 2% of the business’s total gross sales volume or a minimum base rental of $1,000 per month. In the past year, sales totaled $435,000. How much rent did the business pay?

A property owner conveys a life estate to her son and stipulates that upon her death the estate will pass to her granddaughter. The granddaughter has

A real estate professional who is the agent of the buyer should do which of the following?

A buyer bought a house for $125,000. The house, which had originally sold for $118,250, appraised for $122,500. Based on these facts, if the buyer applies for an 80% mortgage, what will be the amount of the loan?

Because a couple no longer needs their large house, they decide to sell it and move into a cooperative apartment building. In a cooperative, they will

A house has been listed for sale for more than one year and the owner is very anxious to move into a retirement community. A real estate professional, who is a subagent of the seller, tells a prospective buyer to make a low offer because the seller is likely to accept it. Regarding the real estate professional’s conduct in giving that advice to the buyer, which of the following is FALSE?

Which statement is TRUE regarding a special warranty deed?