Practice exam question

what would not be considered an appurtenance?

Trade fixture

name a method an appraiser would most likely use to appraise a new built ( 1 year old) apt building?

cost approach

If an appraiser is appraising a special purpose property, he would probably use?

cost approach

special purpose property

Library, schools, government buildings.

where in a standard narrative appraisal report would one likely find the value being estimated?

the statement of purpose

what is created when possession and tittle do not occur at the same time?

interim occupancy agreement

in selling a house, certain charges are prohibited by the real estate settlement procedures act. As appropriate, buyer or seller may not legally be charged for?

Disclosure settlement statements

an investor paid $300,000 for an apartment building, making a $75,000 cash down payment. One year later, the property increased 10% in value. This resulted in a $30,000 or 40% gain on the $75,000 equity. this is an example of?

leverage

in the field of real estate a "prepayment penalty" is sometimes...

required from a trustor who makes advance payments on his home loan

A deed of reconveyance must be executed by the ....?

trustee

describe an injunction ....

a court order to stop or prevent certain actions.