Construction loan - Study guides, Class notes & Summaries
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AFSB 152 Practice Exam Part A with 100% complete solutions
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The two main types of construction are heavy and highway construction and The general building trades 
 
Dramatic increase in project size, taking work in new geographical areas, moving into new types of construction, and lack of management maturity are all factors that can result in Contractor failure 
 
The Miller Act requires a contractor on a federal construction project to post two bonds, a performance bond and a Labor and material payment bond 
 
Contractors would typically be granted reli...
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Michigan Residential Builder's License Test With Correct Solution
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What is the 1st offense penalty for engaging in the practice of residential building without a license? - Answer Not less than $5K and not more than $25K and/or 1 year 
 
What is the penalty for engaging in the practice of residential building, resulting in a death? - Answer Not less than $5K and not more than $50K and/or 4 years 
 
On your individual builder's license application, what should you write as your "business address"? - Answer Your personal address 
 
What is the cost of the indi...
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Gold Coast Real Estate Exam with Verified Answers
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Tract building - Answer- When a dev. Acquired land, records a plat map and uses a model center from which sales may be made 
 
Local level - Answer- Planning, zoning, property taxation, building and health codes and regulations, and building moratoriums that affect development play a significant role in the cost and desirability of real estate 
 
Broker associate - Answer- A licensed broker working for another broker 
 
False - Answer- A florida real estate license applicant must be a resident a...
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Real Estate NJ Test with Questions and Correct Answers| Graded to Pass
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A home is being purchased for $275,000. The buyer agrees to an 80% loan with the seller paying $5,000 of the buyer's closing costs. What amount will the ... - $55,000 
 
A national company desires a parcel of land which must be four times the size of its proposed building. If the building design includes 20,000 square feet .... - B) 2 acres 
 
A salesperson is convicted of a crime which involved activities as a real estate licensee. The Commission obtains a certified copy of the .... Acco...
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Xinnix Ground School Mortgage Final Exam Questions and Answers 100% Pass
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Xinnix Ground School Mortgage Final Exam Questions and Answers 100% Pass On an FHA loan the upfront MIP should be included when calculating cash-to-close. False 
The borrower must have 5% of their own funds when putting 15% down on a primary residence. (FNMA) False 
A 3-Year ARM adjusts every 3 years True 
A Loan Officer can locate the summary of the eligibility requirements for a loan to be sold to a specific lender/investor in the lender specs. False 
A HELOC loan has an interest only payment ...
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NYREI School Exam Questions and Answers Latest Version Graded A+
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NYREI School Exam Questions and Answers Latest Version Graded A+ What is the minimum licensing requirement to sell commercial real estate in New York? a real estate salesperson's license 
What is the preferred method of creating an agency relationship? expressed agency 
An amenity purchaser occupies or uses the purchased property 
Condominium units are considered _____ property and are conveyed by _____. real / deed 
A salesperson who is an independent contractor is not subject to withholding r...
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GOLD COAST 2023 PRACTICE EXAMS QUESTIONS AND ANSWERS
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Which statement provides the basic justification for zoning? 
A. There must be regulations in place to prevent pollution 
B. The government does not want to encourage land development 
C. The inappropriate use of one's property may affect the value of another 
D. Professional planners want to control development - Answer- C. The inappropriate use of one's property may affect the value of another 
 
What is the rationale behind government planning of real estate development? 
A. To manage futu...
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Notary Signing Agent Exam Study Guide: Updated Solution
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HELOC 
 (Ans- Home Equity Line of Credit 
 
Construction Loan 
(Ans- A short-term, interim loan for financing the cost of construction. The lender makes payments to the builder at periodic intervals as the work progresses or is converted to a mortgage. 
 
Reverse Mortgage 
(Ans- A loan based on the equity in a home that provides homeowners with tax-free income and is paid back with interest when the home is sold or the homeowner dies. No payment as long as the borrower lives in the home. 
 
Th...
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MAC2602 Assignment 3 (ANSWERS) Semester 2 2024 - DISTINCTION GUARANTEED
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Well-structured MAC2602 Assignment 3 (ANSWERS) Semester 2 2024 - DISTINCTION GUARANTEED. (DETAILED ANSWERS - DISTINCTION GUARANTEED!).. 1.1 Select one example of what should be reflected in a mission statement. 
a) We are a distribution organisation that provides fresh produce and high-quality produce to a network of independent retailers who trade under our brands. We are not in the grocery business; we are in the people business. 
b) Nothing means more to us than our valued customers, and we b...
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CISR COMMERCIAL PROPERTY INSURANCE QUESTIONS WITH 100 % CORRECT ANSWERS | VERIFIED
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eal property is - Answer-comprised of buildings, structures and fixtures that are tangible. Real property 
can be seen. 
Give examples of Real Property - Answer-Land is real property, but it is generally not the subject of 
insurance. 
Buildings are real property. They have walls and a roof. You can probably envision many types of 
buildings, ranging from a small one-story office to a skyscraper. 
Structures. A structure is any construction, including buildings. However, examples of structures t...
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