California Real Estate Exam 200 Questions And Answers Set 05
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Terms in this set
200
Broker A receives two offers on Seller B's house, which is listed for sale at $250,000. The first offer is for all cash at $200,000. The second offer is for 20% down with 80% financing for the full price. What should the broker do with respect to both offers?
Present both offers to the seller as soon as possible.
The two primary documents dealing with payment of a loan are the mortgage or deed of trust and a
promissory note.
The term that best describes a continuous urban corridor joining at least two cities is
megalopolis.
The term real property can also be described as
the bundle of rights.
The rights of a landowner to a river bordering her property are known as
riparian rights.
In the case of a transfer of ownership of a piece of real estate, a fixture is normally
assumed to be included in the transfer.
A tenant who operates a jewelry store wants to take his jewelry cases with him at the expiration of the lease. What is the best solution?
He may take the cases if removal will not cause substantial damage.
A legal description of property is not adequate unless
land boundaries are defined.
The lot and block system of property description is not also known as the
rectangular survey system.
What best describes the interests of the holder of a life estate?
possession, use, and ownership