National Real Estate Exam Portion For Ohio Questions With Complete Solutions

Capitalization Rate {Ans: Indicates the rate of return that is expected to be generated on a real estate investment property Formula: Net Operating Income / Current Market Value}Under the CERCLA, who is liable for damages from the dumping prior to the sale of the property? {Ans: the seller}Prorated items for the buyer {Ans: Property Taxes Interest on mortgages/bonds assumed service contracts}Environmental Issues Requiring Disclosure {Ans: Urea-formaldehyde foam insulation asbestos Lead-based paint radon gas underground storage tanks}Addendum {Ans: used to clarify and require agreement on items that were not a part of the original contract}Why record a deed? {Ans: Protects the owner from future claims on the title}