General Real Estate Knowledge

1. All real estate sale contracts must be

1. In writing
2. Acknowledged
3. Accompanied with earnest money

2. A trust deed in Oregon

3. What is the interest the first month on a $250,000 loan at 4.75% interest and the yearly property taxes are $2400.00?

4. If a Seller wants to net $200,000 on the sale of her house and she has closing costs of $1800.00 and the real estate agent gets a 5% commission, what must she sell the house for?

5. Which of the statements reguarding personal property is true.

1. Personal property cannot be sold in the same transaction as real property.
2. Personal property attached to a building is considered a fixture.

6. The value of a property above the mortgage indebtedness is called

7. Funds for conventional loans comes directly from

1. the FHA
2. private parties and non-government institutions
3. the Federal Reserve

8. According to local zoning ordances, the distance between the lot line and and the point where improvements may be constructed is called

9. Before a condominium can be sold in Oregon, the Buyer must receive a copy of the

10. In Oregon, property taxes are based on