Real Estate Quizzes Online & Trivia

60/40 split, 148000 x 5%= 7400, associate 7400 x40%= 2960, broker 4440-2960=1480

This question is worded very weird. What are they even asking?

The correct answer is option A Real estate is land and anything permanently attached to the land – which includes houses and structures on the land. It also includes the natural resources such as crops, minerals or water. Real estate also refers to producing, buying and selling real estate. The term real estate means real or physical property. Real estate does not refer to property that is not encumbered by leases, building and other improvements nor does it refer to building and fixture. Hope this helps.

You have 2 of the exact answers in A and B, so why would answer A be incorrect and B be correct? They are the same answer????

I think this answer is wrong. 100.0008.5%=8500/12=708.33 interest per month. 950-708.33(interest)=241.67 toward principle

You calculate the annual interest first 1000008.5%=8500 therefore interest for one month= 8500/12=708.33 Since monthly payment of principal and interest=950 Hence the first month's principal payment= 950-708.33=241.67

Loan amount= $184,000 (purchase price) x75% =$138,000 2.5%x138000=$3450 which is what the buyer will need to bring to closing

If you are looking for a house, you may want to contact a real estate agent so that he or she can help you find a house. You can find a house on your own, but it is easier if you have someone representing you and doing that for you. There are real estate agents and then there are brokers. Brokers are real estate agents, but they are the ones who own the real estate firm. Then they employ other real estate agents to help them out with the job. The best analogy to show you how real estate agents and brokers are different is by explaining that the broker is like the owner of a company and the real estate agents are the employees.

Shouldn't the answer be 1430? 2640/12 =220/month 220 x 6 (Jan-July) = 1320 220 / 30(days) = 7.333/day 7.333 x 15 = 110 1320+110=1430 The only way to get the answer it gives is if you times 220 by seven but you wouldn't want to charge the seller the whole month?

Real estate taxes and property taxes are terms that most people use interchangeably because they do not know the difference. Real estate tax is the term that describes the tax payed annually by a homeowner. It is the tax paye on assess value of his or her home. His amount paid varies based on the type of house and the location of the house. However, property tax covers many other factors that real estate tax does not cover. It covers factors such as: vehicles, furniture, stocks and bonds. The country determines the amount paid by multiplying the percentage of local tax rate by the tax assessment value of the property. Hope this helps.

To sole this calculation you need to find 12% of 165,000, then add the result to 165,000. When you have the sum of the 165,000 and the calculated 12% figure, you now have the figure that the house was originally asking. It is that higher figure which you use to then take 6% of it, and the result is the commission due to the agent. He is much better off than if he was given 6% of the actual sale price!

According to BP 220 IRRUnder 3. Interior Stairs"Riser and Run. Stairs shall have a maximum riser height 0.25 meter and a minimum tread width of 0.20 meter."