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Mantle Realty
Search Homes
Map Search
Advanced Search
Sell Your Home
3D Virtual Real Estate Tours
Aerial Real Estate Photography & Videography
Professional Real Estate Photography & Processing
In-House Real Estate Marketing & Design
Communities We Serve
Greensboro NC
High Point NC
Kernersville NC
Lexington NC
Winston-Salem
Lewisville and Clemmons
King NC
Mocksville NC
Other Areas
Salisbury NC
Lake Norman
High Rock Lake
About Mantle
Mantle Real Estate Agents
Blog
Contact Mantle
Review Us
Resources
Guide to Buying a Home
Guide to Selling Your Home
Home Buyer Terms
Utilities Contact Info
Featured Vendors
Swag
Home
Real Property Exam Prep
Real Property Exam Prep
An appraisal is valid only on its effective date because of:
The principle of appraiser income maximization
Cost savings for the client- higher price could buy an effective date range
The principle of change
The simplicity report model is being used by the appraiser
A section of land legally described as the north one-half of the northwest quarter of the southeast quarter of a section of land contains:
80 acres
40 acres
10 acres
20 acres
A Competitive Market Aanalysis (also known as a Comparative Market Analysis, or CMA) is prepared to estimate the likely sales price of a property. This analysis is based on the:
Cost approach
GRM approach
Income approach
Sales Comparison approach
If the buyer in contract for deed (land contract) who has paid less than 20% of the purchase price defaults, the seller may:
File a judgment lien
Wait ten days, and then sell to someone else
Initiate foreclosure proceedings
initiate forfeiture proceedings
A property owner paid $25 per front foot for a lot 600 ft. x 1,452 ft. How much did he pay for the lot?
$15,500
$16,000
$14,500
$15,000
A legal description of property based on principle meridians, baselines, townships, and sections is described as:
Meets and bounds
Rectangular Survey, or Governmental Survey
Lot and block
Recorded plat of subdivision
What type of legal description would a new residential sub-developer most likely use?
Governmental rectangular
Sections and townships
Meets and bounds
Lot and block
A home seller would purchase title insurance for a buyer. What type of insurance would a buyer purchase for a lender?
Homeowner's insurance
Automobile insurance
Life insurance
Mortgage title insurance
The transfer of rights under a contract without the release from obligation is known as:
Recession
Succession
Novation
Assignment
The income approach is probably most appropriate for which of these?
A museum
A historic residential home
A residential property in a desirable area
An apartment building
At what point does a deed transfer a grantor's interest to a grantee?
When the title insurance is issued
When the grantor signs the deed
Upon recording of the deed
Upon delivery to and acceptance by the grantee
How many acres are there in a government rectangular survey that consists of the SW 1/4 , NE 1/4, NW 1/4 of section 13, Blendon Township?
80 acres
40 acres
20 acres
10 acres
Who picks the title insurance company?
Buyer/buyer's agent
Seller
Anyone
The lender/bank
The life cycle of a neighborhood occurs in these four stages, in this order:
Growth, stability, decline, revitalization
Revitalization, stability, decline, growth
Growth, decline, revitalization, stability
Decline, stability, growth, revitalization
The square footage of a 2-story building that is 54 x 40 is:
4,320
1,030
2,160
2,160, plus the garage
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X