9. The highest and best use of property includes all of the following EXCEPT:

Real Estate

(A) most productive use

(B) economically viable.

(D) conformity to the surroundings.

10. What is the amount of interest paid per year on a loan of $34,050 at an interest rate of 4.38%?

(A) $1,491.39 (B) $1,284.33 (C) $1,309.21 (D) $1,118.43

11) In order to complete the Due diligence for a rental property in NYC, you as the buyer may ask for the registered rent roll from the following NYC AGENCY:

A) DHCR B) OSHA C) HPD D) DOB

12) When a title is passed from the seller to the buyer, the form used in the conveyance is the:

(A) sales contract. (B) agreement of sale. (C) deed. (D) habendum clause in the title.

Solutions

Expert Solution

9. (D) conformity to the surroundings

Reason: This is not how the property is made use of or put to use

10. (A) $1491.39

Reason: Interest = 34050 x (4.38/100) = $1491.39

11. (A) DHCR

Reason: This comes under the scope of DHCR

12. (C) Deed

Reason: A sale deed is an official transfer of title from seller to buyer

Rahul Sunny answered 1 year ago

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