David Saks: February 2010

Real Estate Practice : Lesson 554

                                                              #554

In lease-option type situations the rent charged to the tenant is rarely higher than the fair market rent for the property.

Is this fact true or false ?

Please take your time. The solution is posted below the wildlife photo.

wildlife

A. False

The rent is usually higher than the market rate in a lease-option contract because the tenant has the option to purchase the property.

Check with your attorney or research the fair market rental rates.

Earth

Watch live streaming video from davidsaks at livestream.com

David Saks

Content Protected © 2013   
Subscribe To David's Blog    
Add David as an Associate

0 comments • David Saks • February 22 2010 01:47AM
Real Estate Practice : Lesson 553
share
#553 It is never advisable for a buyer to consider raising cash for a balloon payment by refinancing his or her loan. Is this fact true or false Please take your time. The solution is posted below the wildlife photo. A. False.. more
Real Estate Practice : Lesson 552
share
#552 A seller will most likely consider using a seller second to supplement a new loan for a buyer when interest rates are high. Is this fact true or false Please remember to take your time. The solution is posted below the wildlife photo… more
Real Estate Practice : Lesson 551
share
#551 A land contract may be used to finance the buyer's purchase of a home. This is the first mortgage. Is this fact true or false Please remember to take your time. The solution is posted below the wildlife photo. A. True The land… more
Real Estate Practice : Lesson 549
share
#549 The rule of thumb, when qualifying a VA loan applicant, is that debt to income ratio should not exceed 55%. Is this fact true or false Please remember to take your time. The solution is posted below the wildlife photo. A. False.. more
Real Estate Practice : Lesson 548
share
#548 The VA will consider and allow secondary financing only if the total amount of the loan to be financed exceeds the appraised value of the property. Is this fact true or false Please remember to take your time. The solution is posted… more
Real Estate Practice : Lesson 547
share
#547 A veteran is applying for a 400, 000 dollar loan, which is the purchase price of the home, and has full VA entitlement. The home was appraised at 425, 000 dollars. The required downpayment for the loan is 1. 5% of the total loan amount, or.. more
Real Estate Practice : Lesson 546
share
#546 Prepayment penalties are always a condition of underwriting a VA loan. Is this fact true or false Please remember to take your time. The solution is posted below the wildlife photo. A. False Prepayment penalties are not allowed… more
Real Estate Practice : Lesson 544
share
#544 A veteran may receive a VA guaranteed loan only on a single family residence One to four unit unit residences are ineligible. Is this fact true or false Please take your time. The solution is posted below the wildlife photo. A… more
Real Estate Practice : Lesson 543
share
#543 The the VA will guarantee a loan only if the lender does not require a downpayment Is this fact true or false Please take your time. The solution is posted below the wildlife photo. A. False Lender's will make a loan without… more