Required homeowners association disclosure clause

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Reference no: EM132221191

1. Which of the following regarding condominium office ownership is FALSE?

A) Unlimited expansion possibilities

B) Forfeiture of rent as a deductible expense

C) Participation in the building's management policies

D) Controlled occupancy costs

2. The principal factor in the appreciation of vacant land is likely the property's

A) physical condition.

B) location.

C) appearance.

D) financing.

3. A contract that does not contain the required homeowners association disclosure clause is

A) voidable at the option of the purchaser before closing.

B) null and void.

C) an illegal document.

D) enforceable by the seller, but not the buyer.

4. What is industrial property in the real estate market considered?

A) High turnover

B) Low commodity

C) Slow turnover

D) Quick turnaround

5. Which statement describes the principle of contribution?

A) Homogeneity in design and quality creates the most reasonable value for a property, while a property that is dramatically different from its surroundings is invariably lowered in value.

B) The value of an addition to a property is a function of what it adds to the overall profitability of the property, not just its construction cost.

C) No rational person would pay more for one property than for another of like design, quality, and utility.

D) Most investors make their investment decisions based on the measurement of the present value of the anticipated net income stream.

Reference no: EM132221191

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