Pa Realty Certification Test Answers Pdf

In a partially amortized loan, what is the last amount due? {Ans: Balloon payment}What is a bridge loan? {Ans: Will create a lien on both the property being sold and the property purchased.}When selling a condominium, what implies? {Ans: 1. The rules of the development are in the CC&Rs. 2. The buyer will have an additional monthly fee. 3. There is a Homeowner's Association.}When preparing a CMA, the agent needs to make adjustments based on the features of the subject property. In one case, a comparable property used in the CMA has four bedrooms, while the subject property only has three bedrooms. Which of the following is correct? {Ans: The comp would be adjusted by subtracting the value of a bedroom}A property is set to close on January 15th. The quarterly tax bill (for January through March)l for the property is $600, and is due on February 1st. Which of the following will occur at closing? {Ans: The buyer will receive $100 from the seller at the closing.}Which of the following is true regarding liquidated damages? {Ans: Earnest money is often considered liquidated damages}A subject property is an older home with four bedrooms and