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By David Saks
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In a real estate transactionn, when one speaks of a fiduciary relationship their typically referring to a relationship that will allow another person to act on behalf of another with the additional privilege and grant of legal power  for the other persons affairs. Is this true or false ? Take you...
By David Saks
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A house was built on top a pile of manure. The ceilings of the home we're also poorly constructed and poorly attached to any supporting members or beams. This would be considerd an example of a stigmatized property ? True or false ? A. False If the house was constructed on top of a pile of manure...
By David Saks
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A buyer inquired as to whether or not a city landfill was going to be constructed on an adjacent lot in a new subdivision. The seller's agent replied that she didn't know even though the agent was fully aware of the fact and failed to disclose this to the prospective buyer. If the seller's agent ...
By David Saks
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A buyer paid $460,000 for the house. The lot was valued at $65,000. The mortgage was for $200,000. After all is said and done, how much equity does the homeowner have in the place ? A. $260,000 First of all, the value of the lot has nothing to do with the calculation, so let's hope you don't figu...
By David Saks
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Homeowner's purchase homkeowner's insurance because they know that homeowner's insurance will replace old furniture and roofs when these things need replacing. True or false ? A. False Homeowner's insurance doesn't cover replacement because of age, although it does cover financial losses created ...
By David Saks
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A homeowner's house was constructed in such a way so that the floor of the house was built nearly two feet above a one hundred year old flood mark. The homeowner wants to apply for a federally related home loan. The lender must require flood insurance. True or false ? A. False The lender could ex...
By David Saks
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A mortgage broker told a homeowner that he could deduct the appraisal fee from his annual gross income for income tax purposes. Is this true or false ? A. False It could be considered a fraudulent misrepresentation of facts regarding the loan from the beginning of the loan process. Loan discount ...
By David Saks
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A homeowner insurance policy contained a provision for coinsurance along with coverage that insured the home for total replacement cost. The home burned down and the homeowner had to settle for the present cash value of property damaged in the fire. True or false ? A. False Because the homeowner ...
By David Saks
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When we talk about equity we're considering the fact that the neighbors yard is equal to the size of our yard. True or false ? A. False When the subject of equity is discussed when considering the matter of real estate or real estate financing equity refers to the difference between the amount of...
By David Saks
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A seller confronted a real estate agent about the prospect of drawing up various documents pertaining to real estate financing. The seller even asked the agent if he would consider creating documents so that the seller might proceed with seller financing options. When something like this occurs w...
By David Saks
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The owner of a new parcel of land was granted the right to drive across his neighbor's driveway to reach his home. What is this right considered to be an example of ? A. An appurtenance. An appurtenance is considered a supplementary component of the land rights which is a right granted by the nei...
By David Saks
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What is generally consdidered to be the most important economic characterisitic of any parcel of land ? Remember, accessibility is also something that figures prominently into the equation when you consider this particular characterisitic of land. Take your time. The solution can be found below t...
By David Saks
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When we consider the right to control or use property or real estate, and to freely dispose of the property as we see to it at will or through a deed, these rights are incorporated into what system ? Take your time. The solution is posted below the wildlife photo. A. The bundle of legal rights .....
By David Saks
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When we describe something aa unique it's considered to be scarce ? Think of dissimilar and anything marked by dissimilarity. True or false ? Take your time. The solution is posted below the wildlife photo. A. False If it's considered unique it's considered non-homogenous, or unlike other aspects...
By David Saks
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If a tenant farmer decides to build a hen house and a building for his tractor, who do these buildings belong to ? Take you time. The solution is posted below the wildlife photo. A. The tenant. If the tenant constructs a building on the property he owns it, unless other arrangements are made with...
By David Saks
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If the buildings were blown to smithereens, vaporized, bombed, imploded or torn to pieces and the land is still there, what example has been established by recognizing that the land still in place ?   A. The indestructability of the land. This is one of the most prominent aspects of land. Land, e...
By David Saks
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If a landownber has npoated a "no trespassing" or "no hunting"  sign on his or her property, what stick in the bundle of legal rights is this person exercising ? A. The right of exclusioon. The right of exclusion gives the landowner the right to say who or what has a right to be on their property...
By David Saks
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When we consider the methods of annexation, adaptation and the type of agreement, these are considered the legal tests for determining whether or not an item is land or real estate ? True or false ? A. False The method of annexation, the type of adaptation, and the kind of agreement entered into ...
By David Saks
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If a property owner doesn't want to deal with the day to day task of managing an apartment complex or any other form of rental property the owner can hire a developer. Is this true or false ? Take your time. The answer is posted below the wildlife photo. A. False The property owner would hire a p...
By David Saks
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Appraisal, financing, property management, and real estate developement are all specializations directly linked to state and governmental finance policies. Is this true or false ? Take your time. The solution is posted below the wildlife photo. A. False Financing, property management, appraisal a...

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