A broker might need to change the layout of the office to make the aisles wider for clients in wheelchairs. 6- According to California real estate law, how often must a broker balance his or her trust accounts? C. The fair market value at the time of sale dota 2 annual revenue 2020. adam foote parents. Write a counteroffer. 6 of 10 Which of the following statements is not true? B. His depreciation was $2,500 per year. The homebuyer, on the other hand, is hoping the transaction will close because the home is in A-1 condition and perfect. They were counting on a full-price offer and are very disappointed. university of missouri hospital salaries 2021; port orange arrests today. Give as much detailed information about the property as you can. 8- Why should agent Grace give her client a Combined Hazards Book? A secondary bid for a property that is for more than the first offer Seeking listings C. Seeking both buyers and sellers D. Seeking buyers for others agents' listings 4- What is the agreement that a broker can enter into with a buyer? 11. buyer randy makes an offer to purchase. 10 of 10 Which of these individuals could not act as an escrow agent without an escrow license? 46- A life insurance company would most likely invest in all but which of the following properties? C. They can make payments directly to the original lender. Ordinary china is very fragile. C. The Bryants have not received any feedback from any showings in the past month. D. Preparing flyers and promotional materials for the brokers approval. buyer randy makes an offer to purchase. B. Salesperson Julie can receive her commission from the cooperating broker in her latest transaction. Hikayemiz; Misyon & Vizyon; Kalite Politikamz; Sertifikalarmz; ISPM-15 aretleme zin Duyuru; Sosyal Sorumluluk; Hizmetlerimiz They agree on a price and both parties execute the contract. A. A. Ken is responsible for his own taxes, while the broker pays Sarahs. 11- Greg and Joyce purchased a home from the builder who offered to pay $5,000 at closing as an incentive to get them to buy. 8 of 10 Which of the following will give you comparative market data the fastest? D. The casement windows have broken seals. The date Abby receives the good faith estimate. A. D. The loan must be repaid before the borrowers death. 3 of 12 All of the following are primary mortgage market lenders except which? 10 of 11 Mark gets a home loan and the lender will charge him 3 points at closing. 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. In this case, multiply the monthly income ($600) by 12. 9- What is the basic purpose of Truth in Lending Regulation Z? C. Identifies buyers for other properties. Broker Bob has a buyer who has seen a property twice and seems ready to make an offer. 69- According to ECOA, lenders cannot discriminate against potential borrowers on the basis of all but which of the following? B. Greg has put himself in a potential dual agency situation. A basis of $145,000 and a taxable gain of $3,000, C. A basis of $130,000 and a table gain of $18,000. 6- What is the ultimate result of using the Closing Disclosure form? B. Its a good idea for brokers to carry workers compensation coverage. On what amount will they pay capital gains tax? A broker may require licensees to carry high levels of automobile insurance. B. D. Supply cannot be moved to a high demand area. C. Jim and Amanda whisper and frown when they see the basement. Radio advertising is not as effective as other methods because listeners can be distracted by their activities and not hear the ads. Instead, Bob terminates the relationship with Mary. Try to get Sam to accept the offer. D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. 2 of 10 Offering a buyer more than one option and having him or her choose is using what kind of closing technique? C. Print postage labels from your computer. C. Explain your marketing plan to the sellers. 5- When must a licensee provide an agency disclosure to a prospective client? B. C. There is a 6-month pre-payment penalty for paying off the loan early. B. 93- Jim has created a nice property flier for the James home. What approach can their agent take to change the sellers perception of the offer? They sold the home for $450,000 and paid $30,000 in selling expenses, including the brokers commission. CSP-Conlutas Central Sindical e Popular . 2- What are some tax benefits associated with investing? 3- What is the major difference between an exclusive-authorization-and-right-to-sell listing and an exclusive-agency listing? The borrowers family in case of his or her death, B. 8 of 10 Which of these marketing tools is not considered a traditional tool? 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? 38- When using the straight-line method of depreciation, each year of economic age is given a rate that, A. Varies each year according to a table provided by the IRS, B. 5- What does the safety clause in the listing agreement do? They will have to make a very high down payment. Smoke Detector Statement of Compliance, D. Sellers Affidavit of Nonforeign Status and/or California Withholding Exemption. 4 of 11 Which of these is also called a contract for deed? C. Emphasize that this home is a great buy and it would be a shame for them to dismiss it without looking first. Allows the agent to determine community market trends. What does that mean? Mary wants to terminate the contract. 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. C. The builder paid a lump sum amount at closing to reduce the interest rate for a few years. He succeeds in setting up an appointment to meet with the caller. Billy's agent tells him that he needs, When using the cost approach to appraise a property, the appraiser is most likely working for the, insurance company trying to obtain a replacement cost on the property. B. 5- What kind of newspaper ad could you place to solicit a listing? sam neill laura tingle split 42- Alice is planning her career and setting her goals. Rate of return is computed by dividing the annual net income by the rate of return. 7- What happens if the parties do not initial the section of dispute resolution that deals with binding arbitration? A duplex owner might need to remodel the kitchen in the rental unit to accommodate persons with disabilities. Hometown Real Estate, receives $100.00 each time they refer a customer to New Age flooring. He has put up $50,000 in preferred stock as earnest money. B. Mortgage brokers do not lend money. 3- What is the difference between CLTA and ALTA policies? buyer randy makes an offer to purchase. B. 1- What is escrow? Deposit the check into his trust fund account on the next business day. C. Advertising in the telephone directory is cost effective because the directories can reach every home in the marketing area. Which of the following would be considered an intermediate goal? Jim and Jane financed the remaining $25,000 through the seller. Answer: D- They are effectively terminating the original offer. B. What would you say about Sallys behavior? What is the market value of the property? 4. 37 of 50 Which of the following economic characteristics is true? California: Real Estate Practice Chapter 16 Quiz with no answers, 1 of 10 According to FIRPTA, what percent would a buyer who is buying the property as a personal residence need to withhold when purchasing a $200,000 home from a foreigner?. 22- Jane sold her personal home for $148,000. 100- What does the Real Estate Disclosure Law refer to? Tommy Gee encounters an owner of a property who has no equity in the home because of a sharp decline in market values. Five current listings three recently sold and two expired, C. A minimum of three properties in the recently sold category. They were counting on a full-price offer and are very disappointed. Gross income must be based on production. 5 of 10 Which of these is not a true statement? B. 6- Whats important to know about the Liquidated Damages paragraph? Please remove your shoes before entering the home. the buyer is not allowed to make a counteroffer. The buyers have been pre-qualified by a lender. B. You bought if for the listing price plus 10% and sold it for the listing price. 86- Which of the following is not considered a benefit of investing in real estate? California: Real Estate Practice Ch3 Quiz with no answers. 7 of 10 Which document shows the assets and liabilities of a business? 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? She sold the property and several months later the buyer sued Pam for not disclosing the problem. 9 of 10 Janet is an unlicensed assistant. 49- Agent Dan tells his buyers that the seller will leave the washer and dryer if the buyers make an offer now. Authors Channel Summit. C. Exclusive-authorization-and-right-to-sell. : The Commission could suspend or revoke Rob's license. 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? C. Prepare additional documentation to take to the presentation. A. 6- What is important for the sellers to know about a counteroffer? Tom violated the law by not providing notice of information that would affect Fred, When a broker received an unexpected bill, he deposited a client's earnest money check into his personal account to cover the expense. The offer with the highest price that is the most likely to close 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? Attend weekly staff meetings at the office. D. Hold both offers because he heard that a full-price offer is on its way. 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? A. 8 of 10 What does the paragraph on repairs state? It is completed by an interested Buyer then presented to the Seller, stating the basic terms under which the Buyer is willing to purchase the property. California: Real Estate Practice Ch5 Quiz with no answers. New Age purchased a new coffee maker the office was in need of. A. B. C. Real Estate Settlement and Procedures Act. C. Regulating reserves of institutions with savings accounts only. B. Underline each word that should be capitalized in the following items. 3 of 10 Homeowners can deduct all but which of the following from their income taxes? What is the primary criticism that sellers have about their agents? What kind of a mortgage do they have? 26 of 50 Veteran Bill has applied and been approved for a non-VA-guaranteed CalVet loan. What law creates an automatic lien on a commercial property, subject to the listing agreement? Tell Mike that the sellers will be upset if they cancel the appointment. D. Allows a broker to have as a commission anything above the minimum the seller sets. 4 of 10 Which is true of an exclusive-authorization-to-acquire-property agreement? D. Give the sellers the price over the phone so that they can think about it before you meet with them. Write a contingent counteroffer. Post by; on fulgrim vs guilliman excerpt; clubhouse baseball iphone . There . 3 of 10 Which of the following forms is non-standard and should be prepared by a broker to give to sellers? 9 of 50 Which of the following is a credit to the seller on the settlement statement? A. B. C. Shows property addresses that should be excluded from prospecting. 7 of 10 Which paragraph of the purchase agreement must be initialed by both buyers and sellers for it to apply? Buyers looking at FSBO homes are usually looking for a bargain. Sam asks Bob what the price is. 5 of 10 The principles of an agency relationship include all of these factors except which one? Will placed an ad in the most recent Home Buyers Guide. The purchase price, plus improvements Terminate the first contract and accept the higher offer. B. 2- Who needs title insurance and why? 36- Broker Eric secures a loan for buyer Paul. 12- What are grant programs typically used for? B. If the loan is VA guaranteed, no down payment is required. C. Consider child support payments in the decision. C. Have keys made for company listings. D. Offer something valuable to the reader. 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 81- Jake has decided to specialize in working with clients who purchase schools. B. B. The original loan becomes subordinate to the wraparound. 1 of 10 Which item is not covered by CLTA, ALTA or ALTA-R insurance policies? Receives special tax considerations. 1- What is important to know about unlicensed real estate assistants? A. 4- How is property management seen as a risk to investing? Supervises the Truth in Lending Act. The sales agent should: Write a counteroffer stipulating the sellers' request. 30 of 50 After six months time, manager Tim wants to terminate the lease of one of his month-to-month tenants. A week later, the salesperson takes a new listing and prepares an offer for her seller from her brother/client. Next, calculate the points charged; $168,500 x 0.02 = $3,370. Rule F-1. The lender must furnish a copy of the CFPB booklet to Abby no later than the third business day from which date? The broker will owe fiduciary responsibilities to the seller as well as the buyer. Which of the following is Kirk himself not likely to do during the application process? 7- How can a builder help you generate leads? Documents showing your affiliations with real estate organizations. C. The borrower pays a fixed rate of interest. 8- Under what conditions may a landlord enter a tenants property? She tells them they would not be comfortable in this home and she shows them a list of homes in other neighborhoods she thinks would be more appropriate. B. Underline the correct pronoun in parentheses in the following sentence. Ashley should end this relationship by, : asking the seller to sign a mutual release. 1- What are the five aspects that are involved in any selling approach? A. A. What property type will he be dealing with? C. Pam should recommend that they counteroffer with a price halfway between asking and offering price. A secondary bid for a property from the same buyer. Tell the buyer to submit the offer first and then take a copy to the attorney to review. Answer: D- They are effectively terminating the original offer. B. This broker is guilty of what prohibited activity? 62- When agent Hal shows a home he should never: A. The advertiser is subject to a fine. Rob, a salesperson, tells a buyer that the location of the electric meter on a house is up to the buyer. 1. Agent Sally tries to match her clients with neighborhoods that have similar cultural and racial backgrounds. 4 of 10 Timeshare buyers have the right to rescind a transaction within what timeframe after signing the purchase contract? 68- Greg and Joyce have an adjustable rate mortgage on their home. 6 of 10 A broker induces an owner to sell by telling him that Hispanics are moving into the neighborhood. The price of a plane ride rises by 10 percent. 8- Which section of the purchase agreement does not apply directly to the buyers and sellers? 19- Which of the following is not an advantage of hosting an open house? ", Answer: A- "What would you like to offer? 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. Who makes the payments to a claimant from the Guaranty Fund? D. Written escrow instructions must include a statement with the brokers name, indicating he or she is a licensed real estate agent. 10 of 10 Most sellers object to offers based on: 1- When preparing to present an offer to the sellers, what kinds of supporting information can be helpful? D. Meet with the buyers lender to ensure theyre getting a good deal. The interest rate will increase gradually over time. Buys conventional, FHA and VA loans. Buyers make an offer to purchase property and to place $1000.00 earnest money into their broker's trust account. A. A. D. Have the prospects sign the disclosure about agency relationship. What is the result? Then present the $208,000 offer. 5- How do life insurance companies get involved in the investment market? D. Similar expired listings that didnt sell. California: Real Estate Practice Chapter 13 Quiz with no answers. A. C. Exclusive-authorization-and-right-to-sell agreement. D. Goals must be realistic if you hope to accomplish them. 8- Why is it important to have a written prospecting plan?

Magnetic Hold Down Brackets For Cellular Shades, Hypochromic Cells Normal Range Uk, Ohio Outlaws Mc, Lost Ark Gunslinger Engravings, Articles B