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Which of these is the best example of stigmatized property?
a. home where a notorious convicted murderer once lived
b. apartment unit w/ visible mold problem.
c. townhouse w/ leaking roof.
d. house on the market for months bc it's priced above market value
What is a. home where a notorious convicted murderer once lived
How many parties are required to perform in a bilateral contract?
What is two parties?
Condemnation is the act of seizing private property from citizens. What gives the government the right to do this?
a. eminent domain
b.escheat
c. city ordinances
d. building codes
What is eminent domain?
Which of these is a protected class under the federal Fair Housing law?
a. disability
b. veterans
c. students
d. employment status
What is disability?
Who must fill out the Seller's Disclosure Notice?
What is the seller?
Which term describes the transfer of property from the current owner to another party by sale or gift?
a. voluntary alienation
b. involuntary alienation
c. escheat
d. descent
What is voluntary alienation?
Tareq represented the seller in the sale of a house for $427,000. The commission agreed upon was 7% and Tareq gave half to the buyer's representative. What will he take home if the split with his brokerage is 80% Tareq - 20% broker?
a. $11,956
b. $23,912
c. $5,978
d. $2,989
What is $11,956?
What MUST all listing agreements have?
a. a termination date
b. a renewal date
c. at least 4% commission rate
d. a buyer
What is a termination date?
What act is prohibited by the Sherman Antitrust Act?
a. price fixing
b. steering
c. block busting
d. redlining
What is price fixing?
What is the defining feature of an estate for years?
a. It has a definite ending period and there is no automatic renewal.
b. The property is owned, not leased, by the occupant.
c. The estate must have a duration of two years or longer.
d. Either the tenant or the landlord can end the situation at any time.
What is It has a definite ending period and there is no automatic renewal?
How long after an incident does a victim of housing discrimination have to file a complaint with HUD?
a. one year
b. two years
c. three years
d. five years
What is one year?