Illinois Real Estate Broker Examination Training
A couple’s yearly income is $87,400. The couple’s bank currently allows residential loans for an amount equal to twice the annual income. Disregarding minimum percentage down payment requirements, what is the minimum cash down payment that the couple will need to have on a $210,000 home?
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Four people bought an investment property together, each having an equal ownership interest. They took title in such a manner that if one died he could leave his 1/4 interest to his heirs. How did they take title to the real estate?
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A buyer made an offer on a property and the seller accepted the offer. A week later, the seller asked the licensee to amend the contract’s provision for closing from 60 days to 90 days. the licensee completed the amendment and all parties initiated the change.
The buyer now asks if the seller would agree to split the cost of any needed repairs found during the home inspection. Which of the following should be prepared to include this provision?
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Which of the following factors tends to increase the price of residential real estate in a given area?
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A home equity line of credit is
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For a real estate sales contract to be valid, it must include
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