Cracker

Solutions Law: Correct Answer-a body of rules of action or conduct prescribed by controlling authority and having binding legal force. Public Law: Correct Answer-a law that applies generally to the people of a nation or of a state. Private Law: Correct Answer-the law governing relations between private individuals. Statutory Law Correct Answer-an act of a legislative body declaring, commanding, or prohibiting something Administrative Law: Correct Answer-the body of law created by ad...

user market Correct Answer-A market where tenants negotiate rent and other terms with property owners or their managers is referred to as a: Homogeneous product Correct Answer-Real estate markets differ from other asset classes by having all of the following characteristics except: Real Estate constitutes one-fourth of the world's wealth Correct Answer-All of the following statements define the role of Real Estate in our economy except raw land Correct Answer-Land without any improveme...

Expense stops protect the lessee from unexpected changes in market rents. Correct Answer-False A gross lease is one in which the tenant only pays rent, and the owner of the property pays the operating expenses and provides all services. Correct Answer-True The use of a CPI index in a lease contract shifts risk to the tenant. Correct Answer-True Free rent is a concession that a building owner may offer. Correct Answer-True The existing stock of space cannot be adjusted in the short ru...

users of real estate Correct Answer-Tenant or occupant. An entity or persons who use a certain premise. Value Determination Correct Answer-Value is entirely derived by how a piece of real estate can be used or what can be extracted. uses of real estate Correct Answer-Residential, business, retail, public, infrastructure. real property Correct Answer-rights associated with ownership of land and all permanent attachments to land. personal property Correct Answer-objects that are not pe...

Lockout provisions are primarily intended to reduce the lender's Correct Answer-Reinvestment Risk Which of the following repayment mechanisms is NOT used for long term commercial mortgages? Correct Answer-Alt-A Which mortgage type is the most commonly used instrument to finance commercial property? Correct Answer-Balloon mortgage Which financing structure provides the lender with a portion of the cash flows from operation as well as scheduled mortgage payments? Correct Answer-Joint-Ven...

The element of an adjustable interest rate that is the "moving part" is the: A. Teaser rate B. Index C. Margin D. Adjustment period E. Adjustment caps Correct Answer-B. Index the index rate represents the lenders cost of funds. the index rate is determined by the market, whereas the other answers are all fixed and specified in the note. Suppose a bank recognizes substantial deterioration in a borrowers credit score and notifies him that he must pay his home equity line of credit in f...

Sam promises to buy Amy a steak if she agrees to meet him for dinner after work. Amy agrees. Sam shows up, but Amy does not. Correct Answer-Amy does not need to show up, this is a social arrangements which normally do not create the expectation/reliance that commercial agreements do Barb wanted to purchase 3 lots in San Rafael and build homes on those lots. She contacted Vera, a RE broker. Vera agreed to represent Barb regarding the purchase, in return Barb agreed to build a speculative home ...

The Maple Ridge Construction Company and Kasten entered in to an agreement for the purchase of lots in a subdivision owned by Kasten. Maple Ridge encountered problems obtaining financing and requested postponement of the settlement date. Kasten agreed to an extension of four months. Maple Ridge continued to try to obtain a suitable financing arrangement without success. Repeated requests for additional extensions were tuned down by Kasten. The settlement date passed with neither party preforming...

(CH10) A person who is adjudicated insane Correct Answer-has no capacity to enter into a contract. (CH10) Harry offers in writing to sell Lynn Blackacre. Lynn accepts, thinking that the offer refers to Greenacre. In fact, Harry made the offer thinking that it referred to Greenacre. Either party may rescind the contract because Correct Answer-both parties had a mistaken belief about a material matter in the contract. (CH10) Pamela contracts with Bronwyn to build a house. Pamela specifies in...

John assigned his right to receive a deed from Trudy to Hannah. Contracts assigning deeds are unenforceable. John is relieved from making payment to Trudy. Hannah will be entitled to the deed. John is an assignee. Correct Answer-Hannah will be entitled to the deed. Harry offers in writing to sell Lynn Blackacre. Lynn accepts, thinking that the offer refers to Greenacre. In fact, Harry made the offer thinking that it referred to Greenacre. Either party may rescind the contract because ...