Ca Real Estate Final Exam Questions And Ans Pdf

A residential land developer & contractor were building a number of new homes in a housing tract. During the construction phase a number of people observed the new development & showed a great interest & a desire to purchase he new homes at above market value prices. During the construction period, however the city notified the land developer that new city ordinances required that the existing street be widened 15 feet to handle the anticipated increase in flow of traffic. This increase meant cutting off a portion of each existing lot & as a result, interest in the homes waned. This result loss in value would be classified as {Ans: Economic obsolescence}When a lease requires the tenant to pay certain expenses of the property in addition to the rent, the lease is called {Ans: A net lease}A real estate broker who desires to operate a real estate office that is both competitive & profitable, is vitally concerned with "Desk Cost'. "Desk Cost" is calculated by dividing the {Ans: Total cost of rent, utilities, telephone advertising & other operating expense by the number of salespersons}A Federal RESPA Disclosure must be given to a borrower by the real estate