Pa Real Estate License Test Preparation Questions And Answers

To be valid, every deed must? {Ans: be executed by the grantor.}Steering {Ans: pushing people toward a certain area because of their race or ethnicity}State laws differ on whether a buyer is entitled to know about? {Ans: a suicide that occurred in the house last year}Define easement by prescription? {Ans: an easement obtained from the prolonged use of real property}A written agreement in which a purchaser agrees to buying a seller agrees to sell is called? {Ans: a contract}Unrepresented buyers ask the licensee who listed the home whether they should order a property inspection as a part of their due diligence for the purchase of the home. Which of the following would be the most appropriate way for the listing agent to respond? {Ans: If you feel it is in your best interest, please do so}Under the Federal Fair Housing Law, which of the following is considered discriminatory advertising? {Ans: "catholics preferred"}A property is encumbered by a first mortgage of $60,000 and a second mortgage of $23,500. The property has just been sold at a foreclosure auction to a speculating investor for $88,000. Assume that all costs of the foreclosure sale are included