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FM 056, Cert Re Real Estate, Rev 04 14 DOCX Form

FM 056, Cert Re Real Estate, Rev 04 14 DOCX Form

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we have prepared for you 100 more real estate questions that will help you study and prepare for your real estate exam please like this video as it helps our Channel now let's get started question one which two documents are necessary to establish a legally binding mortgage loan a promisory note and deed of trust B Sales contract and mortgage agreement C title insurance and appraisal report D warranty deed and lease agreement the correct answer is a promisory note and deed of trust the promisory note outlines the borrower's promise to repay the loan while the deed of trust secures the property as collateral for the loan question two if a buyer defaults on a sales contract after providing $10,000 as earnest money for a $200,000 property what can the seller do with the $110,000 a return the entire amount to to the buyer B keep the entire amount as compensation C deduct any incurred expenses and return the remaining amount D distribute the money among the real estate agent

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