When a seller extends credit to a buyer and the loan is secured by a mortgage, it is called:
A. Purchase money loan
B. Hard money loan
C. Wraparound loan
D. Swing loan
Answer: A. Purchase money loan
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Any licensee who has exhausted all administrative remedies available within the license law, and who is aggrieved by a final decision in a contested case is entitled to:
A. A refund of the unused portion of their fees. B. A judicial review in accordance with the georgia Administrative Procedures Act. C. A hearing before the Georgia Real Estate Commission. D. Appeal the case to the Real Estate Commissioner.
Bascomb purchased a parcel of real property, and received a standard policy of title insurance. Bascomb would be protected against all of the following items except:
A: The grantor's signature was forged on the deed; B: Easements and liens on the property not revealed by the public records; C: The delivery of a previous deed in the chain of title without the intent of the grantor; D: The insanity of the grantor.