Red flag that there is potential problem

Assignment Help Financial Management

Reference no: EM131490133

1. The Virginia Mechanics’ Lien Disclosure Act requires that specific language be included in all sales contracts as a caution that an effective mechanic’s lien could be filed against the property. This law was enacted to protect all of the following EXCEPT

a. the purchaser.

b. the seller.

c. brokers involved in the transaction.

d. title agents and insurers.

2. All of the following conditions may be a red flag that there is a potential problem that should be brought to the attention of the settlement attorney EXCEPT

a. the adjoining neighbor’s driveway extends two feet onto the subject property.

b. the property boundaries shown on the survey are not in conformance with the recorded subdivision plat.

c. the back fence to the property extends into the adjoining yard.

d. an easement for power lines extends through the property.

3. All of the following disclosures are required by Virginia law to be included in every sales contract EXCEPT

a. a property owners’ association disclosure.

b. a disclosure of brokerage relationship.

c. a residential property disclosure.

d. a lead-based paint hazard disclosure for properties built before 1978.

Reference no: EM131490133

Questions Cloud

The americans with disabilities act applies : The Americans with Disabilities Act (ADA) applies to

Type of activity to be named as mental disability : The most recent type of activity to be named as a mental disability is that

What is effective annual interest rate : In exchange for a $570 million fixed commitment line of credit, What is the effective annual interest rate on this $200 million loan?

Statements regarding a homeowner warranty : Which of the following statements regarding a homeowner warranty is FALSE?

Red flag that there is potential problem : All of the following conditions may be a red flag that there is a potential problem that should be brought to the attention of the settlement attorney EXCEPT

Virginia residential landlord tenant act : The 2014 Virginia General Assembly changed the “trigger number” that determines if a landlord is subject to the Virginia Residential Landlord Tenant Act (VRLTA)

Discuss why you believe these limitations are adequate : An employer can only be criminally prosecuted if a willful violation. Why you believe these limitations are adequate or if you believe they should be increased.

Project requirements and stakeholder needs : As the project manager, how will you ensure that the initial scope is appropriate to the project requirements and stakeholder needs?

What issues relating to the concept of time value of money : FIN200 Assignment, Trimester 1 2017 - What issues relating to the concept of the time value of money may be important in this decision-making process? Explain.

User Account

All Pages