Description

New Jersey Real Real Estate Exam Questions

Private controls on land use include
A. building codes.
B. deed restrictions.
C. zoning.
D. floodplain management.

Title insurance guarantees that
A. there are no encumbrances on the property.
B. the property title will be held by the lender until the loan is paid.
C. the buyer and lender are protected from losses due to unrecorded encumbrances.
D, the buyer and lender are protected from title actions related to recorded liens against the property.

An office building is valued at $800,000 when the annual net income is capitalized at a rate of 20%. If the operating expenses and
vacancy and rent loss total 40% of the gross income, what is the approximate gross annual income?
A. $266,667
B. $321,412
C. $400,000
D. $507,312