+
Related Flashcards
Related Topics
Cards In This Set
| Front | Back |
|
What document usually summarizes the sources, disbursements, charges and credits associated with a real estate closing?
|
The settlement statement
|
|
RESPA had three specific objectives. Which of the following was NOT one of those objectives?
|
. More informative of the cost of credit.
|
|
. RESPA requires lenders to disclose to buyers a good faith estimate of certain closing costs within:
|
Three days after loan application.
|
|
A typical RESPA closing statement has which of the following characteristics?
|
. 2columns – Summary of borrower's and seller's transactions
|
|
Which of the following is the main objective of FTL legislation?
|
More informative disclosure of the cost of credit
|
|
The difference between the existing stock of space and the equilibrium occupancy is know as the:
|
Vacancy
|
|
The supply of space is:
|
Relatively inelastic in the short run, and highly elastic in the long run.
|
|
Expenses for a 1,000 square foot office space are $6.00 per square foot. The lease specifies an expense stop of $5.40. What is the total expense paid by the landlord?
|
$5,400
|
|
Income after deducting vacancy that is available to pay expenses is referred to as
|
. Effective gross income
|
|
A building owner charges net rent of $20 in the first year, $21 in the second year, and $22 in the third year. Using a 10 percent discount rate, what is the effective rent over the three years?
|
A. $20.94
|
|
RESPA MAIN OBJECTIVE
|
|
