Colibri Real Estate Final Exam 2024 Rated A+ land contract - Correct Answer buyer pays seller to occupy and use property net lease - Correct Answer buyer pays rent and other expenses gross lease - Correct Answer buyer pays only rent goes to heirs - Correct Answer Tenants in common, 2 of 3 people die. Who gets the property of those who died?Tenant owns it in severality - Correct Answer Joint Tenancy, 3 of 4 people die. Who gets property of those who died?Client - Correct Answer Another word for principal race, nat. origin, sex, color, religion, disability, familial status - Correct Answer Protected by Fair Housing Act marital status - Correct Answer Not protected by Fair Housing Act Blockbusting - Correct Answer telling homeowners that property values will be declining because of ethical/racial makeup is changing flat, paved parking lot - Correct Answer real estate put to its highest use puffing - Correct Answer "This is the most prestigious street in town" $5,000 - Correct Answer maximum fine for first offense name and broker - Correct Answer an individual advertisement needs... 1 / 2
statement that they are licensed - Correct Answer a brokerage advertisement needs...48 hours - Correct Answer if listing is submitted to MLS, must notify customer within...at their next meeting - Correct Answer Licensee must deliver Consumer Info Statement when...blanket mortgage - Correct Answer a mortgage that covers 2 parcels of land tenancy at sufference - Correct Answer lease expires, tenants won't leave easement in gross - Correct Answer gas company intrudes on land to fix a gas line the seller - Correct Answer signs the deed at a closing listing agreement - Correct Answer least likely to require a legal description let the client know - Correct Answer agent takes on a listing, decides to buy house for themselves honesty - Correct Answer Open house, declined agency relationship... What does the agent owe the person?disclose it to the buyers - Correct Answer leak in the house, seller is trying to hide it but the agent finds it listings stay with brokerage - Correct Answer agent switches brokerages, what happens to their listings?net listing - Correct Answer a seller wants a certain amount, the rest of the money goes to the agent as commission
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