LISTINGS
How many months is a standard listing agreement?
SIX MONTHS
Wat type of loan needs PMI?
What is FHA
A _____ letter is a document from a lender stating their willingness to advance funds to a borrower under certain terms and conditions
What is a Commitment Letter
What is a stratified market?
Where supply and demand characteristics differ by price point, in the same area (typically by city).
Most commonly used contract for purchase
What is Far Bar As-Is
What is a deed?
THE DOCUMENT THAT CONVEYS THE TITLE OF THE PROPERTY TO THE PURCHASER.
What loan can give you 100% financing
What is VA LOAN
A professionally prepared evaluation that estimates the worth & value of a property
What is an Appraisal
Also known as a handyman's special it's the hyphenated term for a rundown property bought at a bargain but needing work
A fixer-upper
How is time determined in the The FAR BAR As Is contract?
What is Calendar days
Which approach to value would MOST likely be useful to real estate brokers estimating the value of a single-family residence for sale in a subdivision?
Market comparison approach
What are the 3 main credit bureaus?
What are experian, equifax, and transunion
It's the deposit of funds or documents with a neutral third party instructed to carry out an agreement
What is Escrow
Often physically attached to the home they're items that were once personal property but are now part of the sale
Fixtures
What do you fill out if the seller has to stay in the property for a month after closing?
What is Post Occupany
A sales contract was signed by a minor. Which term describes this contract?
Voidable
When purchasing a condo, what is needed for a conventional loan with a LTV greater than 80%
What is condo questionnaire
Who pays for title and lien search if Miami/ Broward Regional Provision is checked on the contract?
Who is Seller?
How is the Y Green program financed
What allows for the closing date to be extended and by how many days if buyer & seller cannot close due to an act of God
What is Force Majeure and up to 7 days.
A real estate broker hired by an owner to sell a parcel of real property must comply with?
Law of agency
This term for the conveyance of property to secure a loan literally means dead pledge
What is Mortgage
Name three cities that require a certificate of reocupancy?
What is Hialeah & Miami Springs & Miami Gardens, North Miami , Miami shores
What does FIRPTA stand for?
What is Foreign Investment in Real Property Tax Act
When does the inspection period end if the effective date is May 20,2019 and the inspection period is for 7 days.
What is May 28, 2019