Real Estate Law
How many "Classroom" hours does it take to get your Sales Persons License.
What is 60 Hours
What company is our preferred lender and who is the Mortgage Loan Officer?
Who is Southern Trust Mortgage &
Jeremy Krupnick
Define an Encumbrance.
What describes anything that negatively affects a property’s value or desirability
43560
What is the area of an Acre
What State has the most Chick-Fil-A locations?
& What is its best selling Item?
What is Texas with 524
Virginia has 148... The more you know :-) lol
& The Original Chicken Sandwich
This allows a buyer to request repairs, credits, or cancellation after inspections. What's the form called and what's does it mean?
Property
Inspection
Contingency
Removal
Addendum
Who is our preferred closing partner?
Who is...Caplan Law
What year was lead based paint banned?
What is 1978
PITI - What does it mean?
What is PRINCIPAL INTEREST TAXES INSURANCE?
What is the down payment % for a FHA loan?
What is 3.5% of the sales price.
How many hours is required for your PLE & When is it due?
What is 30 hours & within 1 year of passing your real estate exam.
Who is the Principle Broker of Abrams Realty?
Who is Liz Abrams
How many miles from Virginia Beach is the North Pole as the crow fly's?
What is 3500 miles
What is the decorative trim called in a room typically around waist height?
What is .. A Chair Rail
Define a Sellers market?
What is...when there are less properties than available Buyers, often leading to higher prices.
What type of agency does Abrams practice when more than one Abrams is involved (i.e. Abrams listing and Abrams is bringing the buyer) and define it.
We practice Designated Agency - Designated agency is when 1 Abrams agent is assigned to represent the buyer and 1 Abrams agent represents the listing.
How much is Abrams Standard Admin Fee?
What is $495
DAILY DOUBLE!!!!!!! On the Standard Purchase Agreement what falls on page 13 paragraph 17. ?
How many times does a buyer have to initial the Standard Purchase Agreement?
DAILY DOUBLE!!!! What is the Brokerage Fee
What is 15 Initials on the 16 page agreement
What is a Flag Lot?
What is...describes the shape of a certain type of lot, where the access to the road is provided along the long narrow “flag pole,” and the shape of the lot is rectangular, as a flag.
Describe a discount point for a mortgage and what does it cost?
What is approx. one percent of the LOAN amount.
What does this describe... legal doctrine that allows someone to gain ownership of a property by openly, continuously, and exclusively occupying it for a statutory period, even if they don't have legal title. Essentially, it's a way for a person who has been using land without permission to eventually acquire legal ownership if the actual owner doesn't take action to remove them.
What is ... Adverse Possession
Name our preferred Home inspection company & What does their name stand for?
What is QAI & What does Quality Assurance Inspections.
How many days before Settlement are you to receive your closing disclosure/Settlement Statement & What should you do with it?
What is 3 days
Review all details to verify that all items match the agree contract terms.
Define Riparian Rights & What makes it different from Littoral Rights?
Riparian rights are: Landowners whose property borders a FLOWING body of water like a river or stream, allowing them to use the water.
Littoral Rights are found around Stationary body's of water.
What is the default number of days do you have to review Common Interest Community Documents?
What is 3 days