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Total Land Valuation + Depreciated Value of Building = Value of Property Cost Approach -

The cost approach to value may be derived by:

They live in Southern California. In Northern California the buyer usually pays the escrow service fees. -

The Brights are buying a home from the Stones. They are splitting the escrow service fees 50-50. Do they live in Northern or Southern California? How does the other region usually handle the escrow service fees?

Value range and condition -

Agent Peters has qualified buyers to purchase a new home. Now he needs to qualify the property they wish to buy. He understands the human qualification process. Can you help Agent Peters with steps to qualify the property?

Three owners: One could own the subsurface rights, one the surface rights, and another the air rights. -

An undeveloped acre of land sits in the middle of a secluded rural community. How many separate owners could this acre have?

They may rescind the transaction based on the misrepresentation of the broker. -

Ben and Amanda are interested in a vacant, undeveloped lot. They are going to continue to live in their current home, pay off the lot's loan, and then build a new home on the lot. Before closing on the purchase of the lot, they discover the zoning regulations permit nightclubs to be built in the immediate area. They specifically asked the broker about this issue and were told there was no reason to worry. What are Ben and Amanda's options, if any?

Truth in Lending -

Ensuring consumers are fully informed of all finance changes and aware of the true annual interest rate are requirements of which regulation?

Two - One is for security deposits and one for current rents and management. -

How many, if any, escrow or trust accounts must a property manager maintain?

The transfer of land from father to son, upon the father's death. -

In early common law, transfers of land were only made when:

They were guilty of subversion by using improperly obtained test questions to prepare for the examination. This is considered a dishonest practice. they had an unfair advantage over the other applicants taking the examination. It was basically old fashioned cheating, and was not tolerated. -

Marta and Sean acquire notes from a previous California State Licensing Exam through a friend. This friend had previously taken the exam and managed to record the questions on his scratch piece of paper. Marta and Sean score passing grades on their exams, but are denied licenses. Why would they be denied a license?

Trustee's Deed -

Maya, who lives in California, just purchased her first home at a foreclosure sale. She was given a deed at the sale. What type of deed was she given?

To become real property, their mobile home must have a permanent foundation. -

Saffron and Serge have a mobile home in which they travel from city to city, town to town, selling pottery and playing music. One week they may be in Berkeley, the next Sacramento. The couple travel wherever their mobile home will take them. Which of the following is true?

Tom is in luck. Since he has already taken the appropriate actions and obtained a judgment to obtain possession of the property before Jack filed his bankruptcy petition, the previously filed eviction remains in effect. -

San Diego tenant Jack Stone is a full-time slacker. The guy has not paid rent in months and refuses to give up possession of the property. After many attempts to solve the problem outside of a courtroom, landlord Tom Crick gives up, files an eviction notice, and obtains a judgment to obtain possession of the property. Three weeks later, however, Jack tells Tom that just that morning he's filed for bankruptcy--so the eviction is off. Which of the following statements is true of this situation?

A statement made in front of witnesses in sight of the land, and the new owner's entry onto that land. -

Shamus McManus purchased property from Sir Ian Wainwright under early English common law. Which of the following were acceptable methods of property transfer?

To protect the public. -

The main purpose of the California Bureau of Real Estate (CalBRE):

Tim forgot to obtain a building permit. -

Tim owns a mobile home he wants to transform into real property. He attaches the mobile home to an approved foundation; records a document reflecting that the mobile home has been affixed to an approved foundation system; and obtains a certificate of occupancy. Which step, if any, did John leave out?

Unenforceable -

Victoria decides not to lease the condo from Sanchez. (They have an oral agreement.) She tells him she has changed her mind the day before she had agreed to move in. He has spent time and money getting the property ready for Victoria and is thinking of suing. Which type of contract applies to the situation?

The total finance charge to the total amount to be financed. -

What is included in the APR?

Trust Deed -

Which of the following deeds are not really deeds at all?

To determine the marketability of a property. -

Which of the following is not a goal of a real estate appraiser?

They may not permit, under any condition, any person to make any addition, deletion, or alteration of an escrow instruction. -

Which of the following is not a prohibited escrow-related activity?

A trust account may be an interest-bearing account. -

Which of the following statements concerning California Trust Account Requirements is false?

Annexation changes personal property to real property; severance changes real property to personal property. -

Which of the following statements concerning real and personal property is true?