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SC PSI Real Estate Exam Prep Already Graded A

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SC PSI Real Estate Exam Prep Already Graded A Which of the following describes the term appreciation? ✔✔An increase in the value of property When ownership of a mortgage is transferred from one... company or individual to another, it is called: ✔✔An assignment A mortgage loan which requires the remaining balance be paid at a specific point in time is called a: ✔✔Balloon mortgage The following reason accounts for why bridge loans are not used much anymore: ✔✔More second mortgage lenders now will lend at a high to loan value. Sellers would rather accept offers from buyers who have already sold their property. A title which is free of liens or legal questions as to ownership of the property is called a_______________title. ✔✔Clear title What is the collateral in a home loan? ✔✔The property itself The adjustment date on adjustable rate mortgage is: ✔✔The date the interest rate changes What is the deposit made by potential buyer to show he is serious about buying a house called? ✔✔Earnest money deposit A right-of-way which gives persons other than the owner access to our over a property is known as an: ✔✔Easement Which best describes a subdivision? ✔✔A housing development created by dividing a tract of land into individual lots When someone contributes to the construction or rehabilitation of a property with labor or services rather than cash, that contribution is called: ✔✔Swe [Show More]

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