Real Estate Agent Practice Exam (2022 Current)

A is wrong. The lender, nonetheless, needs the appraisal to ensure that the mortgage-to-worth ratio is suitable. C is incorrect. The Broker Opinion of Worth (aka «Broker Worth Opinion») is the broker’s estimation of a property’s market worth primarily based on recent gross sales of nearby comparable properties. While this approach is just like the market data strategy utilized by appraisers, the broker isn’t authorized to complete an appraisal. D is incorrect. A home inspector does not appraise a property, but experiences See on this website the condition of its major systems and components (e.g., electrical, plumbing, basis, partitions, insulation, heating, air conditioning, and so on.)Incorrect answer. Please select another reply.

If a court docket determines that a servient estate is unduly burdened by unreasonable use of the easement, the proprietor has a number of potential legal remedies. These include court orders limiting the dominant owner to an appropriate enjoyment of the easement, monetary damages when the easement holder exceeds the scope of their rights and damages the servient property, and in some circumstances termination of the easement.

3. The time spent collaborating in actual property trades or businesses-however only these actual property trades or businesses in which the you materially participate-must exceed the time you spend in non-real property trades or businesses; i.e., your day job. Because A materially participates in each separate rental activity, we are able to rely the hours spent in each exercise towards the full. He spent 1,750 hours on his real property commerce or business (rental activities) and none on non-real property trades or businesses. Because of this, this check is happy.