Alfred and Allie buy a 10-year old home and have it tested for radon prior to closing. The test results in an average reading of 4.8 pCi/L. Under Federal Law, is the seller required to mitigate the home? - Answer>>> No,
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Alfred and Allie buy a 10-year old home and have it tested for radon prior to closing. The test results in an average reading of 4.8 pCi/L. Under Federal Law, is the seller required to mitigate the home? - Answer>>> No, unless agreed upon in the contract between buyer and seller
John is a successful bidder at a sheriff's foreclosure sale. At the sale he receives a certificate of sale, but does not know what it means. John's lawyer explains: - Answer>>> That he is entitled to a deed upon confirmation of sale by the court if the land is not redeemed by the original owner during the redemption period
When counseling seller-clients, an agent should do all of the following except: - Answer>>> Prepare a market analysis that shows a high price for the property, because one never can tell what a buyer might pay
(Agents must be careful to study all factors influencing value. For some sellers, time on the market is more critical than price. A market analysis should always reflect the most realistic situation.)
An appraiser has been requested to appraise a residential home. Although the home is actually 10 years old it is in excellent condition, so the appraiser places its age at 6 years. This would be known as: - Answer>>> effective age.
Senior Sally wishes to guarantee that her grandchildren end up with her home and farm after her son dies. She should then - Answer>>> Leave her son a life estate, naming the grandchildren a remainder interest
Which of the following is not an exemption under the Federal Fair Housing Act? - Answer>>> A church selling its church grounds with the help of a broker
A and B take title together at the same time under the same deed, each owning one half of the real property. What form of co-ownership will law presume they have? - Answer>>> Tenancy in common
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