VA Real Estate Study guides, Class notes & Summaries

According to the VRLTA, a copy of the written rental agreement must be provided to the tenant within ______________ of the agreement's effective date. - ANSWER-One month In Virginia, a landlord must provide a copy of the written rental agreement. When must this be provided? - ANSWER-Within one month of the agreement's effective date Which of the following is a task that a licensee could perform for a customer in a transaction? - ANSWER-Providing the opposing party with signed copies of p...

The tax base in a jurisdiction is derived by subtracting exemptions from - ANSWER-assessed values A developer put two lots together and sold them as one large lot. The increase in value is referred to as: - ANSWER-plottage A 20-unit apartment building rented for $750 per month. The annual gross income multiplier was 9. What is the value of the property? - ANSWER-1,620,000 he Virginia Real Estate Board is composed of _______ members who have been licensed real estate brokers or salespers...

VA REAL ESTATE - Unit 1 Review Questions and Answers

According to the VRLTA, a copy of the written rental agreement must be provided to the tenant within ______________ of the agreement's effective date. - Answer-One month In Virginia, a landlord must provide a copy of the written rental agreement. When must this be provided? - Answer-Within one month of the agreement's effective date Which of the following is a task that a licensee could perform for a customer in a transaction? - Answer-Providing the opposing party with signed copies of p...

Sole Proprietor: Principal Broker Owner - Answer-An individual broker, not a firm, trading under his or her bame or a ficticious name registered with the board. NO business entity firm license required Sole Proprietor: Non-Broker Owner - Answer-A brokerage firm owned by an unlicensed individual. The firm must get a business entity firm license before transacting RE business. The firm still must have a licensed principal broker Inactive Status - Answer-Any broker or salesperson not under su...

Transact the client's affairs in a certain business. - Answer-A general agency empowers the agent to: The client (seller), the agent (broker), or by mutual consent. - Answer-A listing agreement may be terminated by: d. The buyer has had previous credit problems which may have an impact on loan qualifications - Answer-Which of the following MUST be disclosed by an agent to his client in a Real Estate transaction. a. Minority groups are moving into the area b. The average commission re...

Transact the client's affairs in a certain business. - Answer- A general agency empowers the agent to: The client (seller), the agent (broker), or by mutual consent. - Answer- A listing agreement may be terminated by: d. The buyer has had previous credit problems which may have an impact on loan qualifications - Answer- Which of the following MUST be disclosed by an agent to his client in a Real Estate transaction. a. Minority groups are moving into the area b. The average commission...

The tax base in a jurisdiction is derived by subtracting exemptions from CORRECT ANSWER assessed values A developer put two lots together and sold them as one large lot. The increase in value is referred to as: CORRECT ANSWER plottage A 20-unit apartment building rented for $750 per month. The annual gross income multiplier was 9. What is the value of the property? CORRECT ANSWER 1,620,000 he Virginia Real Estate Board is composed of _______ members who have been licensed real estate br...

According to the VRLTA, a copy of the written rental agreement must be provided to the tenant within ______________ of the agreement's effective date. CORRECT ANSWER One month In Virginia, a landlord must provide a copy of the written rental agreement. When must this be provided? CORRECT ANSWER Within one month of the agreement's effective date Which of the following is a task that a licensee could perform for a customer in a transaction? CORRECT ANSWER Providing the opposing party with ...