Tuesday, April 9, 2013
1. Project Precommitment has 6 stages but which one is not one of the stages.
a. Conceive a development project.
b. Examine the feasibility of the project.
c. Design the project.
d. Build the project.
2. what stage of the Project Precommitment is the development project consist of a development concept and a site to put it on.
a. Stage 1
b. Stage 2
d. Stage 4
3. Design the project
a. Physical aspect.
b. Thinking phase
c. Developing aspect
4. (T/F) An a agreement between a property owner and the potential buyer granting the potential buyer the exclusive right to purchase the property and close the transaction by some specified future date is called exclusive option. T
5. (T/F) The fourth stage of the development process is focused on the physical aspects. T
6. (T/F) Stage five is the construct and design which is developer issues the notice to proceed to the general contractor. T
7. (T/F) Performance bond is not an assurance made by third party. F
8. (T/F) A Bridge loan is known as a gap loan, which create a bridge between the construction loan and the permanent loan by taking out the construction lender before the permanent loan is available. T