Donec aliquet. 31- Patrick has a written independent contractor agreement with his broker Tami. 8 of 10 An association of two or more people who combine financial resources to achieve investment objectives is: 9 of 10 Which statement is not true about a Real Estate Investment Trust? Allows quick repayment of the loan through accelerated payments. D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. 92- Which of the following situations is not exempt from the seller disclosure requirement? D. The loan must be repaid before the borrowers death. Which statement is TRUE? D. Placing a classified ad in the weekend paper. five letter words with l; jaiswal surname caste; pros and cons of herzberg theory; sechrest funeral home obituaries; curious george stuffed animal 1975; cornerstone staffing application 0 3- Differentiate between mortgage brokers and mortgage bankers. Which of the following conditions is Paul not required to report on this form? 7- What does the paragraph in the listing agreement titled Entire Contract deal with? What would we call Hannah? A. The couple now has.
Making a Best Offer | eBay Why or why not? The other 75% came from an hourly wage paid by Tami. C. It creates an agency relationship. C. Participation in the MLS increases a licensees inventory. Broker compensation to other brokers. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Senior housing for residents 62 or older, B. 1. The Haleys want to get a mortgage that will cover the purchase price plus all the furnishings. What are some important tips for home tours? Call Us Today! You had a 9% loss. The broker will owe fiduciary responsibilities to the seller as well as the buyer. C. Can perform some real estate activities without a license.
Buyer Randy makes an offer to purchase one of Broker Tom's 8- Why should agent Grace give her client a Combined Hazards Book? B. Ken must obtain his own training. 53- Greg sold an apartment building he owned for 20 years. 1- How much is the loan origination fee and what does it cover? 48- The public report that a developer must provide when offering subdivided lands for sale is provided by which agency? $5,500 the first year, plus a maximum 2% increase in market value per year, B. Answer: C- A secondary bid for a property that the seller will accept if the first offer fails. Next, determine the amount to apply toward the loan origination fee and discount points; $185,000 - $2,000 - $14,500 = $168,500. 58- Mortgage lenders are prohibited from discriminating in giving credit to prospective borrowers based on race, color, religion, national origin, sex, marital status, age or dependency on public assistance under which law or regulation? 7- What is the difference between an FHA loan and a VA loan? C. Exclusive-authorization-and-right-to-sell agreement. 2- What exception exists to the duty of obedience when working with a client? 8- What does the Water Heater Statement of Compliance address? 1. Then present the $208,000 offer.
Making An Offer To Buy A Business - 6 Key Considerations - Forbes 40- Which of the following phrases should Salesperson Brenda avoid when writing an advertisement for one of her listings? What should Jake do? 7 of 10 Which document shows the assets and liabilities of a business? Installation of central air conditioning, D. Addition of a tenant laundry facility. 106- If broker Tim advertises a property for sale that he doesnt intend to sell so that he can attract potential buyers, Tim is practicing: >Real Estate Practice Class Questions with no Answers for 1- When is an agency relationship created? 9 of 50 Which of the following is a credit to the seller on the settlement statement? Last year, about 25% of his income came from sales commissions. 4. B. Salesperson Julie can receive her commission from the cooperating broker in her latest transaction. A secondary bid for a property that is less than the first offer Access to over 100 million course-specific study resources, 24/7 help from Expert Tutors on 140+ subjects, Full access to over 1 million Textbook Solutions. California: Real Estate Practice Ch9 Quiz with no answers. B. 10 of 10 Which of these individuals could not act as an escrow agent without an escrow license? Next, determine the remainder of the loan; $185,000 - $40,000 = $145,000. Answer: D- Avoid telling him the price by setting up an immediate appointment. 1- The amount that a seller takes away from a sale is termed: 2- Which of the following best describes prospecting? Norm gave Pat a $500 earnest money check. A. Pam should tell them to reject the offer so that the buyers will counter back with full price. What approach can Greg use to discourage the person from calling other agents? Preparation of an appraisal of the property, D. Help with required forms and disclosures. The agent should, Something of value given to another as an inducement for entering into a contract is termed, To emphasize the timely performance as an essential part of the contract, a contract would use the words. Write a counteroffer. 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? 7- What are the capital gains exclusions associated with the sale of a personal residence? They were counting on a full-price offer and are very disappointed. B. 6- When is a lender required to terminate a borrowers private mortgage insurance? Mary learns that Sam is selling only half of the duplex. Rule 21 2 of 10 All of these statements are true except which one? Jim has decided to specialize in what area of real estate? C. It must specify a definite termination date. 2- What are some tax benefits associated with investing? D. Purchasing loans from primary lenders. B. Pam is not liable since it was summer and the heating problem was not obvious. Smoke Detector Statement of Compliance, D. Sellers Affidavit of Nonforeign Status and/or California Withholding Exemption. Buyer Norm called and rescinded the offer. 7- Name three benefits of listing a home with an agent that you could share with sellers. Loan terms are from 15 to 25 years. C. Your plan for finding the buyer a home. B. Its easier to prioritize your tasks if your goals are in writing. D. Meet with an inspector at a listing. Which of the following would be considered an intermediate goal? Who should Tommy recommend the owner consult with before making a decision? 6 of 10 Which of these is an emotional reason that buyers buy property? 6- What is important for the sellers to know about a counteroffer? Bob should not have presented the offer after the property was under contract to another buyer. To insure loans made by approved lenders, D. To sell loans to other secondary mortgage marketers. 37 of 50 Which of the following economic characteristics is true? 8 of 10 Which California Fair Housing law provides protection from discrimination by business establishments? 14 of 50 The title report on a property shows there is a lien on the property. Hometown Real Estate, receives $100.00 each time they refer a customer to New Age flooring. D. A lender can continue to collect PMI payments until the homeowners equity reaches 25%. A. How much did Sam gain or lose on the sale? Seeking listings C. Seeking both buyers and sellers D. Seeking buyers for others agents' listings 33- Which statement is true about a loan that has a negative amortization? Housing and Community Development Act. 25 of 50 Mortgage lenders are required to disclose financing costs and annual percentage rate to the borrower under which law or regulation? Buyer Norm just signed a purchase contract with licensee Pat. D. The interest payment is always smaller then the amount allocated to the principal. 8 of 10 Which of these marketing tools is not considered a traditional tool? B. The loan will be distributed to them gradually. Tell the sellers exactly how she feels and why she thinks the offer is not a good one. A. What will the new owners pay in property taxes? 5- When must a licensee provide an agency disclosure to a prospective client? Present the higher-priced offer first.
When You Should Make a Purchase Offer - The Balance 5- What kind of newspaper ad could you place to solicit a listing? What would you say about Sallys behavior? 5- Under what circumstances can a loss on the sale of a personal residence be deducted from income taxes? whether the property's buildings encroach on neighboring land, A right that goes along with the ownership of real property is, Plants and trees cultivated for harvest best describes. Which of these forms of advertising is she most likely to avoid? A. I will make two new contacts every day this week. 1 of 10 What kind of lease contains a recapture clause? She doesnt need a license to perform many activities at the firm, but which of the following would require her to have a license? 45- Kirk wants to get an FHA loan. C. Date and attach supporting documents. B. Retain the check for use with a future sales contract offer. A broker might need to change the layout of the office to make the aisles wider for clients in wheelchairs. 8 of 10 What does the paragraph on repairs state? D. Is best left to experienced brokers. 51- Which statement is true about a homeowners exemption? California: Real Estate Practice Ch12 Quiz with no answers. 41 of 50 What was the important ruling in Jones v. Mayer? D. The advertiser must prove he was grandfathered in as a licensee. A buyer has obtained a mortgage in which the LTV is 95% of the first $40,000 of the sale price and 90% of the remainder of the sale price. yellowbrick scholarship reviews. Hikayemiz; Misyon & Vizyon; Kalite Politikamz; Sertifikalarmz; ISPM-15 aretleme zin Duyuru; Sosyal Sorumluluk; Hizmetlerimiz 8 of 10 Which of the following is a good direct mail technique? California: Real Estate Practice Chapter 18 Quiz with no answers. D. Give the sellers the price over the phone so that they can think about it before you meet with them. Tommy asks his real estate agent to prepare a lease agreement instead of a purchase agreement now that he has decided to rent rather than buy. A. California: Real Estate Practice Ch11 Quiz with no answers. B. 9 of 10 All of these might be a buying signal except which? Agent Sally tries to match her clients with neighborhoods that have similar cultural and racial backgrounds. Retired persons are a good source of neighborhood information. 10 of 10 Assistants who are hired to work part time: C. Usually get a percentage of the commission in addition to a salary. The following table lists all costs of quality incurred by Sam's Surf Shop last year. Give the prospects a black copy of a purchase agreement to look over. 46- A life insurance company would most likely invest in all but which of the following properties? Randy gives Tom an earnest money check for $1,000 and asks Tom to hold it until June 30, regardless of the date the seller accepts the offer. 2- Explain the difference between the primary and secondary mortgage markets. A. 102- What is the minimum period of time over which the owner of a commercial building can depreciate the improvements? D. The buyers love the landscaping improvements the sellers have made. 2- What types of office administration tasks are important for a licensed assistant to perform? \hline Once the Offer is signed by the Buyer and the Seller, and the contained contingencies are met, it then becomes a legally binding agreement. 7 of 10 Which statement is not true about opening escrows? What is the most often used form of earnest money deposit? Instead, Bob terminates the relationship with Mary. California: Real Estate Practice Sample of Final Course Exam. The buyers family is pressuring them to purchase this home. The definition of race was expanded to include ancestry. The lender gives a mortgage to the borrower and gets funds in exchange. What kind of mortgage might they get? Listen carefully to everything your prospects say and repeat some specifics back at appropriate times so that they know you have heard what they said. 4- Whats a bonus closing and whats important to keep in mind about this technique? B. A rental property has a return rate of 8%. 80- Which of the following is an example of commingling? The advertiser is subject to a fine. 4- What is the agreement that a broker can enter into with a buyer? D. Erics broker should appoint Eric as the designated agent in this transaction. D. Meet with the buyers lender to ensure theyre getting a good deal. They called Wills office and told the secretary they are upset and need to speak with Will. 5 of 10 What would be the least effective way to get to know your buyers needs? \text { Annual warranty cost } & 1,546,000 \\ Later that day, Kirk finds a home he likes better; so he withdraws his offer to Larry. 1 of 10 All of the following are good newspaper sections to read for prospecting except which? A. Youll know how much house they can afford. In which stage of the General Adaptation Syndrome *(GAS) are bodily resources drained and stress hormones depleted? A broker may advertise that he or she is an escrow agent. C. A counteroffer can give the buyers an out if they want one. Which of the following statements is not true? D. After the agent has had time to make copies at the office. Which of the following statements is not true? B. He asks, Which one of the children gets the basement bedroom with the private entrance? What kind of closing technique is Tim using?
buyer randy makes an offer to purchase Which statement is true? 3- In what three ways can an assistant aid an agent with appointments? C. The air conditioner does not work. It became a contingent contract when Sam accepted Mary's offer.
buyer randy makes an offer to purchase - fabricadecosas.com Bob writes the offer but is too embarrassed to submit it. It can be considered an employment contract. A. 2 of 10 Which is not a true statement about the Americans with Disabilities Act? 4 of 10 Which is true of an exclusive-authorization-to-acquire-property agreement? Broker Ashley has been working for a seller for the past seven months. 21 of 50 Once signed, escrow instructions can be changed only by: 22 of 50 What is one of the major objectives of professional property management? 1. Post by; on fulgrim vs guilliman excerpt; clubhouse baseball iphone . Sexta, 26 de novembro de 2021 . Terminate the first contract and accept the higher offer. A. Randy gives Tom an earnest money check f Randy gives Tom an earnest money check f Q: according to the law governing mortgage loan brokers what is the maximum commission Broker Dan can charge for securing a 1- How much is the loan origination fee and what does it cover? D. Collecting information and pre-qualifying buyers yourself is the easiest and best approach. 8. 8 of 50 Buyer Kirk submits an offer to seller Larry. 4. 5. Rule F-21 You can use a reverse telephone directory to get the names of residents. 66- When doing a listing presentation which of the following items would you not describe to the owners as being a benefit of listing with an agent? D. John expects his agents to spend 5 hours a week on unsupervised telephone duty. 9 of 10 Janet is an unlicensed assistant. Local ordinance requires a 20-foot rear and front setback. PRACTICE QUESTIONS), >CALIFORNIA REAL ESTATE PRACTICE PRELICENSE CLASS, >CALIFORNIA LEGAL ASPECTS OF REAL ESTATE PRELICENSE CLASS, >ALL Questions with Answers for ALL 3 PreLicense Classes Guides on 1 page, >ALL Real Estate Practice Class Questions with Answers & most with Explanations. C. Prepare additional documentation to take to the presentation. The sellers want the earnest money check made payable to them instead. 2- What exception exists to the duty of obedience when working with a client? How should licensee Fred handle this offer? D. Tell the sellers its time to reevaluate the price. A. Jim specializes in clients who want to buy restaurants. Gives the names of lawyers who might require property assistance. C. Have keys made for company listings. If you like, you can add a message to the seller. A. C. Do you need the equity from your current home for the new home purchase? 8 of 10 Which of these statements about counteroffers is not true? C. The lender gives the borrower a mortgage and funds. 7 of 10 When the broker and seller agree that the broker can receive commission for a specified number of days after the listing expires if selling to a named party on a list, its referred to by what term? C. An apartment manager might be required to allow a tenant with a disability to widen a doorway. Brenda refuses. What approach can their agent take to change the sellers perception of the offer? 1- What is goodwill as it relates to a business? She would likely be required to do which of the following? Bob cannot do anything; it is out of his hands. What kind of agreement is this? A. 41- Agricultural land includes all of the following EXCEPT which? Broker John puts $500 into his trust account. The listing agent must provide the disclosure to the seller prior to securing the listing agreement. Q: Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. The buyers have been pre-qualified by a lender. Prior to bringing an offer to purchase. 5- What does the safety clause in the listing agreement do? Ask the caller if he or she would like to receive e-mails on newly listed properties. 6 of 10 How often can a tenant call his or her own professional to make repairs and then deduct the amount from the next months rent? Nam risus ante, dapibus a molestie consequat, ultrices ac magna. D. The monthly payments increase overtime. From the 200' depth, subtract the 20' rear and front setback (200' - 40' = 160'). 4 of 50 Seller Kim tells her agent Greg that she would be willing to accept $185,000 on her $205,000 listed home. What is this agreement called? 9 of 10 Which of the following statements is not true? D. All repairs must be in compliance with existing building codes. If an item is already correct, write C on the line provided. 11. A. Encourage the buyer to get the attorney to review it quickly. What is the status of the contract between Sam and Mary? 100- What does the Real Estate Disclosure Law refer to? Other than residential list three kinds of property in the real estate market. The escrow holder will need information about the brokers commission. Covers more than one piece of property. Explain. buyer randy makes an offer to purchase. Which is a true statement? Which area of specialization would she fall into? : The Commission could suspend or revoke Rob's license. 1 of 10 Which of these statements is not true? 4 of 10 An unlicensed person engages in advertising that conveys the clear impression that he is a licensed real estate broker or is an officer or employee of a corporation who knowingly advertises a false statement concerning any land or subdivision. She put 20% down and got a mortgage for the remainder. D. Is permissible in amounts under $50. D. Exclusive-authorization-and-right-to-sell agreement. Nam risus ante, dapibus a molestie consequat, ultrices ac magn, View answer & additonal benefits from the subscription, Explore recently answered questions from the same subject. D. The selling agent must provide the disclosure to the buyer as soon as practicable prior to the execution of the buyers offer to purchase. What was Sam's appraisal cost for quality last year? 42- Alice is planning her career and setting her goals. 20- Which of the following would not be an essential component when researching the purchase of an apartment building? Information on current loan programs. 3- For whom do property tax exemptions exist and for how much? Maximize the return to the property management firm. 2 of 10 When can a landlord enter a tenants property to make repairs or show it? He sounds really excited about this property. When you meet with your sellers after you obtain the listing, what is one of the first things you should share with them to get them involved in the process? The date Abby receives the good faith estimate. B. Randy gives Tom an earnest money check for $1,000 and asks Tom to hold it until June 30, regardless of the date the seller accepts the offer. kennesaw state football depth chart; 2022617 buyer randy makes an offer to purchase D. A shopping center might have to remodel their public restrooms. 49 of 50 Greg and Wanda Sandler purchased their home 35 years ago and it was paid off at the end of thirty years. Establish a homes fair market value. 7- If an item is paid for in advance by the seller, how will it be handled on the settlement statement? $90,000 Fusce, Explore over 16 million step-by-step answers from our library, acinia pulvinar tortor nec facilisis. What is most likely their main motivation for investing? Underline each word that should be capitalized in the following items. 6- Whats important to know about the Liquidated Damages paragraph? From whom may a salesperson receive compensation for performed activities? 10 of 10 When a tenant agrees to pay all taxes, insurance, maintenance and repairs, that tenant has what kind of lease? Be open-minded. This best describes. 8- What do you call those items that have been incurred by the seller but not paid, and how will they be handled on the settlement statement? 9 of 10 A reference list of alternative comparable properties is sometimes referred to as the: 10 of 10 Prospects Jim and Linda arrive with agent Bill at the first showing. 1 of 10 The Lead-Based Paint Disclosure is required for homes built: 2 of 10 Which of these documents is for sellers only and not for buyers? 9 of 12 When a lender is evaluating a buyers ability to repay a loan, the lender looks at all of these items except which one? 7 of 10 How might probate information help in prospecting? A. He just sold it for $13,000. A. C. Knocking on doors never requires special permits. D. The appraised value prior to sale B. 5 of 50 Jane has been working with some buyers for several weeks. Nam risus an, View answer & additonal benefits from the subscription, Explore recently answered questions from the same subject, Explore documents and answered questions from similar courses. \hline \text { Annual inspection costs } & \$ 155,000 \\ In order to supplement their fixed income, the Sandlers receive monthly checks from their bank. Which term is the process of joining several parcels of land into one larger parcel? What kind of lease does Jim have? A. D. Buyers of FSBO homes are usually the ones who save money. Now you have the numbers to plug into the loss formula; Percent of Loss = Loss / Cost or $13,990 / $153,890 = 0.0909. C. Payments will not be enough to retire the loan. Their interest rate will rise after the first few years. B. Answer: C- Try to get Sam to accept the offer. Which is true? The buyer must pay the broker a commission. B. How long does he have to file a complaint with the Department of Housing and Urban Development? 8 of 10 Which of these is a free form of advertising? 4 of 11 Which of these is also called a contract for deed? 11- What are the penalties for violating Regulation Z? Availability of multiple listing service, C. Broker-paid advertising and promotion, D. Assistance with filling out disclosures. 6 of 10 Which of the following is not a true statement? B. Code Violations and Tax Delinquencies. 7- How can a builder help you generate leads? 1- What are the five aspects that are involved in any selling approach? Jim should not use this flier as a: 94- Sellers agent Pam was unaware of the fact that the heating system of a home she had listed was defective. 9. D. Greg has no fiduciary responsibilities to Kim once the listing expired. Answer: C- Ask the buyer if the buyer would like to make an offer taking the roof age into account. Next, calculate the points charged; $168,500 x 0.02 = $3,370. 5 of 10 Which of these statements is not true about qualifying buyers? 10 of 10 Which of these is not an exemption to fair housing law? C. There is a 6-month pre-payment penalty for paying off the loan early. B. 82- What is the minimum period of time over which the owner of an apartment building can depreciate the improvements? Mortgage bankers bring borrowers and lenders together. What is the market value of the property? 4- What are the major areas of newspaper leads? A. A rental condominium for a recreational vehicle. The original loan becomes subordinate to the wraparound. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. Studying population trends in the area. C. FSBO sellers who list with an agent will pay their own advertising costs. 7 of 10 Which disclosure form gives detailed information about the propertys condition?
buyer randy makes an offer to purchase - fridarestaurant.com Sam accepts the offer and executes the contract on March 1, a Sunday. 1- What is escrow? He succeeds in setting up an appointment to meet with the caller. Which of the following is true, if you are licensed as a referral agent?
21- Which form of advertising is considered the most cost-effective method for selling a home? A. They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. A. 6 of 10 Which of these is not a tool to help evaluate advertising effectiveness? 7 of 10 Which of the following is not a national real estate trade organization? cross elasticity of demand for train rides with respect to the price of a plane ride 1- What are the five aspects that are involved in any selling approach? Hes no longer interested in seeing the inside and Marge agrees. 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. Several weeks later, Agent Tom becomes aware of a developer who would pay as much as $1,000,000 for the property. Courtesy of RealtyPact. 5 of 10 Which of the following is not a source of information for professional ethics codes? D. Administers special assistance programs. What kind of closing technique is Harry using? buyer randy makes an offer to purchase buyer randy makes an offer to purchase. C. Jim and Amanda whisper and frown when they see the basement. I think theyre asking a fair price., C. What do you think would be a fair price?, D. The comps say that this price is right on target.. 5 of 10 All of these would be effective at capturing a readers attention except which? 15 of 50 Agent Will has had a listing with the Bryants for 6 weeks. Make no recommendations and let the sellers decide on their own. The owner of the property is HIV positive. Seller Stuart calls buyer Bruce, stating that he has changed his mind and now has no intention, under any circumstance, of coming to the closing table to complete the transaction set forth in their executed contract. Answer: B- The contract is voidable due to mutual mistake. Nam lacinia pulvinar tortor nec facilisis. Buyers make an offer to purchase property and to place $1000.00 earnest money into their broker's trust account. 22- Jane sold her personal home for $148,000. 6- When is a lender required to terminate a borrowers private mortgage insurance? 10- Whats the difference between a lease purchase and a lease option? 3- When preparing a competitive market analysis, what categories of homes should an agent research? A. A. 47- Which of the following duties is not a permitted activity for an unlicensed personal assistant? Authors Channel Summit. A borrower cannot qualify for a conventional loan unless he or she can make a 20% down payment. 10 of 10 Which of these Internet pages might be of particular interest to sellers? B. 65- Which of the following items is usually not prorated at closing? What is the key feature of this type of loan? B. 101- Which type of loan typically carries the most loan points? A. The seller must file a bill of sale with the county clerk. B. B. 4- Describe how a property manager can receive his or her fees. Use as little white space as possible. $6,740 B. What should Tim do next? D. Have the prospects sign the disclosure about agency relationship. C. Maintaining the office filing system. 1 of 10 Which Fair Housing Law added sex to the list of protected classes? A.
Solved Randy and his real estate agent, Bob, enter into a - Chegg To access the website, click "Allow". 69- According to ECOA, lenders cannot discriminate against potential borrowers on the basis of all but which of the following? 3 of 11 Which loan covers the period of time between the end of one mortgage and the beginning of another? Three days later, the agent shows the property; at that time the customer reveals her financial abilities and motivation. D. Have the broker send a thank you for listing letter to the sellers.