NC POST LICENCE 303 STUDY GUIDE
Comercial Real Estate Broker Lien - Answers :available only to listing broker, is NOT
superior to mechanics lien, Must be filed for sales: within 30 days prior to closing;
Leases: within 60 days after due date of payment
Limited Non Resident Commercial License - Answers :Must reside in another state or
US territory , PERON must hold an active license in a "qualifying state" , Two years
experience NOT required.
Modular Housing - Answers :Must be erected by a general contractor or by a person
bonded for $5000 to assure compliance with the building code
Financing in Commercial Brokerage - Answers :-Lending:
More ARM's
LTV's much lower
Loans more often made to entities
Non-Recourse loans
Office Floor space categories - Answers :Floor plate
Core area
Usable area
Rentable area
Full service Lease - Answers :Landlord provides more services scubas cleaning,
utilities, and other services
Rent is usually higher
Absorption study - Answers :Used to measure how much office space is available vs.
how much is used during a particular period
Transaction Cycle (Sales) - Answers :-Buyer usually given a free look period
-May terminate without penalty unless otherwise agreed
-Option contract may serve better
Due Diligence - Answers :Investigate the property
BPO Commercial property - Answers :broker should use both the income and the sales
comparison approach
Types of Eviction - Answers :Actual Eviction
- Called summary ejectment
-small claims court (magistrate )
Constructive Eviction
