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A designation awarded for completion of real estate courses sponsored by Boards of
REALTORS is the GRI or Graduate of the REALTORS ____________________.
A(n) ____________________ contract results when a promise is exchanged for
performance.
A settlement statement, also called a ____________________ statement, is given to the
buyer and seller to summarize the financial aspects of their transaction.
In a deed of trust, if the borrower defaults, the lender can take possession of the
property and collect the rents.
In most states in which title transfers are handled in escrow, the agents must be bonded.
The rejection of even the smallest portion of an offer is a rejection of the entire offer.
The phrase "more houses are torn down than fall down" is referring to the basic theory
of obsolescence.
When a parcel of real property is sold in foreclosure, the easement rights transfer with
title.
Truth-in-lending laws were created primarily to protect lenders.
The rents that a property can be expected to produce on an annual basis may be referred
to as the projected gross income.
A licensed real estate agent is offered a listing by an owner who will not sell to any
person of a certain national origin. The agent should report the owner to the real estate
department.
During a "dry closing" the money is disbursed to the seller.
