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| Section | Objectives |
|---|---|
| Property Ownership | |
| Real Estate Practice and Disclosures | |
| Ethics and Professional Responsibility | |
| Valuation and Market Analysis | |
| New Jersey Real Estate Law and Regulations | |
| Agency Relationships and Brokerage | |
| Financing and Settlement | |
| Contracts | |
| Land Use Controls and Regulations |
The heir to a large estate will be of legal age within 30 days. The heir lists for sale with a broker one of the properties held by the estate. The broker knows of a buyer for the property and sells it within 24 hours of listing, with closing to be in 45 days. Both listing and sale contracts are:
Correct Answer: A 🗳️
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The listing broker has been presented with multiple offers. The seller would accept only a cash offer on the home, so the broker will present:
Correct Answer: A 🗳️
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Evergreen bushes and apple trees on a property that were planted by the current owner are examples of:
Correct Answer: A 🗳️
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A married couple is planning to purchase a house that costs $86,000. If they obtain a 60% loan and the lender charges a 2.5% loan origination fee and 0.5 discount points, what is the cost of these expenses?
Correct Answer: A 🗳️
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Which of the following can hold escrow accounts?
Correct Answer: B 🗳️
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