2 of 10 Which of these is not a good technique to get the name of a caller who is reluctant to give you that information? C. Regulating reserves of institutions with savings accounts only. The offer with the highest price 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. Which statement is true? D. I will distribute 200 business cards every month for the next six months. C. Mortgage bankers are a large source of residential loans in California. 3 of 12 All of the following are primary mortgage market lenders except which? Course Hero is not sponsored or endorsed by any college or university. It helps to identify buyer and seller needs. B. A. Regulates reserve requirements for all institutions that offer checking accounts. D. Kirks offer to Larry is legally cancelled. If a person feels like he or she has been discriminated against, how long does that person have to file a complaint? 2 of 10 Which of these is not an AIDA characteristic? B. What will they have to pay the lender? 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? Free Purchase Agreement | PDF & Word | Legal Templates Answer: D- Return the money to buyer Norm. 10 of 10 A competitive market analysis is an attempt to: A. cross elasticity of demand for train rides with respect to the price of a plane ride 27 of 50 Tim and Sue have obtained a buydown loan on their newly built home. What was Sam's appraisal cost for quality last year? Step 2. Salesperson Sally tells her senior citizen buyers that the home they want to view is located in a neighborhood with several small children and loud teenagers. In the past year they have referred two dozen people who have purchased flooring from New Age. C. Giving buyers your opinion of what works best for them. It was terminated when Mary delivered the recission to Sam. What percent of commission the licensees can charge. A. D. Goals must be realistic if you hope to accomplish them. Give housing choices to the widest range of people. 73- Which of these is not a buying signal? 2- What are some tax benefits associated with investing? Checking your browser. B. Radio advertising is not as effective as other methods because listeners can be distracted by their activities and not hear the ads. [Solved] Buyer Randy makes an offer to purchase one of Broker Tom's What should Bob do? 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? C. Explain your marketing plan to the sellers. B. Encourage the buyer to get the attorney to review it quickly. Each of their payments is for the same amount. The adjusted cost basis of the first home was $140,000. 4- What are the major areas of newspaper leads? buyer randy makes an offer to purchase Amanda loves the home and wants to make an offer. What is Gregs capital gain on the apartment? Bob writes the offer but is too embarrassed to submit it. Bob should not have presented the offer after the property was under contract to another buyer. D. Purchasing loans from primary lenders. C. When you have 200 names in your contact database. C. Exclusive-authorization-and-right-to-sell. 12- What are grant programs typically used for? What kinds of things should you include in a weekly activity report? Most likely, what did they get? Then present the $208,000 offer. 10- What is the right to rescind and what is not covered by this rule? 2 of 10 When can a landlord enter a tenants property to make repairs or show it? 9 of 10 An agent must give a copy of the listing agreement to the sellers: A. 7- What does the paragraph in the listing agreement titled Entire Contract deal with? B. ", Answer: A- "What would you like to offer? It must be in writing to be enforceable. 6- According to California real estate law, how often must a broker balance his or her trust accounts? What should Tim do next? 8 of 10 Which of these statements about counteroffers is not true? 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 They will have a number of new expenses as a result of this purchase. Name and define the two forms of advertising. B. C. The fair market value at the time of sale 5- What does the safety clause in the listing agreement do? What is the key feature of this type of loan? Brenda refuses. 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. If the loan is for $68,000, what will Mark be assessed in points? How long must a broker be licensed in order to apply for a temporary broker's license? 71- When agent Jane meets with her sellers to offer suggestions, she most likely would not give them: 72- According to RESPA, a buyer or seller cannot legally be charged at closing for which of the following items? They will owe a balloon payment at the end of the loan term. 88- Sally and Dan must pay 2 points on their new $65,000 loan. CSP-Conlutas Central Sindical e Popular . A borrower cannot qualify for a conventional loan unless he or she can make a 20% down payment. B. 7 of 10 How might probate information help in prospecting? B. 3 of 10 Which of these lenders would be most likely to finance a large shopping mall? D. Discrimination on the basis of race is strictly prohibited, meaning no exceptions whatsoever. 12 of 50 The manager of a large hotel refuses to rent a room to a blind person with a guide dog. A broker cannot use the word escrow in a fictitious name. What disclosure does the salesperson owe to the buyer and seller? D. The lender assumes Tim and Sues income will rise over the first few years of the loan. 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? 3 of 10 What kind of ad usually combines both institutional and product advertising? buyer randy makes an offer to purchase. 4 of 10 Which is true of an exclusive-authorization-to-acquire-property agreement? C. Classified ads placed on the property, D. Number of hits on the company website. 1- What is important to know about unlicensed real estate assistants? What must Tim do? 3- What is the difference between CLTA and ALTA policies? $90,000 California: Real Estate Practice Ch4 Quiz with no answers, answers will be revealed with proper subscription. 9- What is the basic purpose of Truth in Lending Regulation Z? B. Rewrite whole paragraphs to ensure clarity. Smoke Detector Statement of Compliance, D. Sellers Affidavit of Nonforeign Status and/or California Withholding Exemption. 4 of 10 Timeshare buyers have the right to rescind a transaction within what timeframe after signing the purchase contract? He says to them, Would you prefer to take possession on September 1 or October 1? What kind of closing technique is Harry using? 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? 5- What does the safety clause in the listing agreement do? Several weeks later when showing another home to a buyer, Greg mentions that Kim would have accepted less for her home. C. The borrower pays a fixed rate of interest. C. Date and attach supporting documents. 45 of 50 What is the Federal Housing Administrations primary role in the mortgage market? Private mortgage insurance is available for FHA loans. In order to supplement their fixed income, the Sandlers receive monthly checks from their bank. 82- What is the minimum period of time over which the owner of an apartment building can depreciate the improvements? A. 6- What does the security and insurance clause of the listing agreement address? During the time Sam owned the property he paid $350 per year in taxes, $150 per year on maintenance like grass cutting and $90 per year on miscellaneous expenses. an opinion of value for the day of the appraisal only. D. The date Abby makes the request to receive the booklet. The date Abby receives the good faith estimate. C. Sharing all visitor comments two weeks before the listing ends. What is the status of the contract between Sam and Mary? You can use a reverse telephone directory to get the names of residents. Mary writes a letter rescinding her offer and hand delivers it to Sam Sunday night. D. John expects his agents to spend 5 hours a week on unsupervised telephone duty. How long does he have to file a complaint with the Department of Housing and Urban Development? buyer randy makes an offer to purchase - ftp.ivnowandzen.com 10. A basis of $148,000 and no taxable gain, B. 5- Your listing presentation manual should be made up of two sections that address what issues? Which of the following items can Matt not add to the original cost when doing the computation? Start in the room with the best features. Local ordinance requires a 20-foot rear and front setback. 61- Bill and Sue secured a mortgage loan that is tied to an index which fluctuates over the life of the loan. 3. Her asking price was $560,000 and the property sold for $575,000. 2 of 10 Which is not a true statement about the Americans with Disabilities Act? 4- What items are not covered by any title insurance policy? California: Real Estate Practice Ch12 Quiz with no answers. Write a contingent counteroffer. 7 of 10 Which document shows the assets and liabilities of a business? 8 of 10 Which of these marketing tools is not considered a traditional tool? This mortgage type is popular among the elderly. From the 200' depth, subtract the 20' rear and front setback (200' - 40' = 160'). Bob receives an offer from a buyer that is 12% below Sam's asking price. C. Analyzing the income potential of the property. Jim has decided to specialize in what area of real estate? Bob Broker represents Mary Buyer. (Who, Whom) has been selected as the team captain? B. 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. A rental property has a return rate of 8%. C. Mike has been late with his rent payments seven times in the past year, D. He had a serious physical altercation with his downstairs neighbor. 10- Which of the following prospecting techniques do you have to use carefully because it has tended to upset people in recent years? rickey smiley and grandson videos D. The owner has 45 days to file a change in ownership statement. 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? Mortgage bankers bring borrowers and lenders together. 2- What exception exists to the duty of obedience when working with a client? 2- When establishing rapport, whats one of the best ways to get to know your buyers? 12- What does TRID require of lenders? B. 1- How much is the loan origination fee and what does it cover? Housing and Community Development Act. What is meant by the term sphere of influence? 11 of 50 Jake and Janet are required to pay 4 points on the $80,000 loan they are getting. 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. 5- If lenders intend to sell mortgages in the secondary market, what must they do? 10- Whats the difference between a lease purchase and a lease option? However, he is objecting because the roof is 12 years old. It became a contingent contract when Sam accepted Mary's 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. If the loan value is 80%, and the property was appraised at $86,500 and sold for $88,000, how much would the purchaser be permitted to borrow? The Haleys want to get a mortgage that will cover the purchase price plus all the furnishings. At the time the agreement is signed. C. It keeps your name in front of potential buyers and sellers. There are several steps in calculating the answer to this question. B. B. 4 of 10 A totally disabled veteran could be eligible for a property tax exemption of up to what amount? He must withdraw his representation of one of the parties. A buyer mails an offer to an out-of-town seller. 1. What type of relationship best describes how a real estate broker represents her principal in the sale of the principal's single-family home? C. Consider child support payments in the decision. D. Is permissible in amounts under $50. 3 of 50 Paul is filling out the Natural Hazard Disclosure Statement. 105- Agent Alice has received an offer that she believes is not in the sellers best interest. D. Preparing flyers and promotional materials for the brokers approval. From whom may a salesperson receive compensation for performed activities? 40 of 50 Which of the following Internet pages might not be of particular interest to buyers? Courtesy of RealtyPact. C. Offer to show the caller a newly-listed, not-yet-advertised property, even if one doesnt exist. Amanda loves the home and wants to make an offer. 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? 11 of 12 ECOA requires that a lender send a denial notice within: 12 of 12 The amount of debt, time and method of payment, interest rate and other loan terms are part of the: 1- What is the role of the Fed? 8- What is the major difference between a CalVet loan and other loans? B. At the end of the term, the loan balance will be negative. 14 of 50 The title report on a property shows there is a lien on the property. 26 of 50 Veteran Bill has applied and been approved for a non-VA-guaranteed CalVet loan. A. 3- In what three ways can an assistant aid an agent with appointments? What property type will he be dealing with? Harry has some buyers that he believes are ready to make an offer. 25- According to the law governing mortgage loan brokers, what is the maximum commission Broker Claire can charge for securing a $50,000 first mortgage for a period of 2 years? 3- What is a good approach to use when contacting the owner of an expired listing? "What would you like to offer?" D. Placing a classified ad in the weekend paper. 10 of 10 Which of the following is not a possible benefit of investing in real property? B. A broker may advertise that he or she is an escrow agent. 4- What items are not covered by any title insurance policy? Please remove your shoes before entering the home. Present the offer and tell the seller that the check needs to be held until June 30. itur laoreet. Buyer Norm called and rescinded the offer. 10 of 10 If an agent does not comply with the requirement of conducting a visual inspection of a property, how long after possession does the buyer have to file a suit? 43- The Equal Credit Opportunity Act (ECOA) requires lenders to: A. 8- What is an important issue for potential buyer clients to understand? Minimize expenses while maximizing profits for the owner. 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 C. Shows property addresses that should be excluded from prospecting. D. Convince a seller to list with you. If Broker Tom procures a buyer for Jack, Tom will get the commission and Alice will not. Answer: C- A secondary bid for a property that the seller will accept if the first offer fails. C. Have keys made for company listings. Preparation of an appraisal of the property, D. Help with required forms and disclosures. 69- According to ECOA, lenders cannot discriminate against potential borrowers on the basis of all but which of the following? Tell Mike that the sellers will be upset if they cancel the appointment. B. Answer: A- Write a contingent counteroffer, Which of the following statements best describes a backup offer? To purchase conventional, FHA and VA loans, D. To insure conventional, FHA and VA loans. 9- What required disclosure is a result of Megans Law? 101- Which type of loan typically carries the most loan points? He has put up $50,000 in preferred stock as earnest money. C. I will get three new listings this month. C. If Larry verbally accepted the offer, Kirk is bound by it. Study the other terms of the offer so that you can maximize the offers benefits and minimize the lower price. Sam accepts the offer and executes the contract on March 1, a Sunday. 9 of 10 A person who believes he or she has been discriminated against has how long from the time of the alleged violation to file a suit in a state or federal court? B. kennesaw state football depth chart; 2022617 buyer randy makes an offer to purchase 4- How is property management seen as a risk to investing? Here are the steps to follow to make an offer to purchase: Step 1. 8 of 10 Proof of ownership of a property is called: 9 of 10 Who is responsible for ordering the preliminary title report? C. Participation in the MLS increases a licensees inventory. Find things in the home a seller needs to repair. What economic factors affect the real estate market as well as other goods and services? She tells them that this action could decrease their property values. Seeking listings C. Seeking both buyers and sellers D. Seeking buyers for others agents' listings Buyers make an offer to purchase property and to place $1000.00 earnest money into their broker's trust account. D. Exert pressure on the sellers to include something the other party wants. 21- Which form of advertising is considered the most cost-effective method for selling a home? Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. C. Supervises the Federal Housing Authority. This practice is: 24- When talking to his investment clients, Broker Adam often to tax shelters. Two weeks before the close of seller Jan's property, buyer Sam makes an offer. A. C. Tell them that this home is an exceptional buy and encourage them to look anyway. Five current listings three recently sold and two expired, C. A minimum of three properties in the recently sold category. 2- What types of office administration tasks are important for a licensed assistant to perform? What should Jake do? California: Real Estate Practice Chapter 18 Quiz with no answers. The value of the property the borrower wants to purchase, D. The neighborhood in which the property is located. D. Similar expired listings that didnt sell. The purchase price, plus depreciation C. The loan term will extend gradually over time. What percent of loss did you have? C. Jim and Amanda whisper and frown when they see the basement. C. The buyers are interested in another property. Which statement is true? What would we call Hannah? 44- Jim owns a gift shop in a commercial building. B. A. 9- Define a purchase money mortgage. 27- Mr. and Mrs. Haley are purchasing beachfront property in an upscale development. C. Discuss alternative properties that may be interest. A. Which of the following conditions is Paul not required to report on this form? D. Exclusive-authorization-and-right-to-sell agreement. 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? This type of action might be viewed as: Buyer Frank has just signed a sales contract for a 2 million dollar property. 5 of 10 Which of the following would not be a reason to choose to be an assistant? 11. D. Avoid negative comments while hes inside the home. buyer randy makes an offer to purchase - 740alvarado.com If the loan is VA guaranteed, no down payment is required. The offer that has the shortest closing date, Answer: B- The offer with the highest price that is the most likely to close. 1 of 50 Which of the following newspaper information is not helpful in developing a Prospecting Plan? D. Allows a broker to have as a commission anything above the minimum the seller sets. D. Ken and Sarah both must be at the office from 9 a.m. to 5 p.m. 35- Who benefits from Private Mortgage Insurance? B. 20 of 50 Seller Patsy wants to net $150,000 from the sale of her home. Which area of specialization would she fall into? Given the rise in the price of a plane ride, what percentage change in the price \text { Annual warranty cost } & 1,546,000 \\ A secondary bid for a property that is for more than the first offer Example 1. 3 of 10 When must a listing agent present the Disclosure Regarding Real Estate Agency Relationships to the seller? 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? C. Do you need the equity from your current home for the new home purchase? Rule F-21 How would you classify this essay (high or low comedy)? What California Fair Housing law has the manager violated? 20- Which of the following would not be an essential component when researching the purchase of an apartment building? B. A buyer applies for a loan that is neither insured nor guaranteed by a government agency. C. Real Estate Settlement and Procedures Act. What would be determined by a location survey? 1- The amount that a seller takes away from a sale is termed: 2- Which of the following best describes prospecting? Licensee Pat was in transit to the cooperating licensee's office with the offer. A. If checked, the seller can complete repairs after closing. B. The owner asks Tommy to market the property at market value but asks Tommy if he could negotiate with the bank and orchestrate a short sale. If the terms offered by the Buyer are acceptable to the Seller, the Seller signs the Offer Form to begin the sale. Jim and Jane financed the remaining $25,000 through the seller. The term of the loan can be shortened. A. A. AnnualinspectioncostsAnnualcostofscrapmaterialsAnnualreworkcostAnnualcostofqualitytrainingAnnualwarrantycostAnnualtestingcost$155,000286,00034,679456,0001,546,000543,000. B. Hes very comfortable selling that type of property and knows he can work well with clients in that area. What kind of agreement is this? 4- What do Fannie Mae and Ginnie Mae do that Freddie Mac does not? C. Maintaining the office filing system. 86- Which of the following is not considered a benefit of investing in real estate? D. All repairs must be in compliance with existing building codes. 7- What happens if the parties do not initial the section of dispute resolution that deals with binding arbitration? Mary learns that Sam is selling only half of the duplex. 75- All but which of the following is NOT an AIDA feature? $5,500 the first year, plus a maximum 2% increase in market value per year, B. D. Have the prospects sign the disclosure about agency relationship. The definition of race was expanded to include ancestry. The advertiser is subject to a fine. A. 10 of 10 Which of these Internet pages might be of particular interest to sellers? What kind of loan do they have? What kind of closing technique is Jim using? D. The buyers love the landscaping improvements the sellers have made. The Language of Composition: Reading, Writing, Rhetoric, Lawrence Scanlon, Renee H. Shea, Robin Dissin Aufses, Edge Reading, Writing and Language: Level C, David W. Moore, Deborah Short, Michael W. Smith. D. This action is deliberate misrepresentation. California: Real Estate Practice Chapter 14 Quiz with no answers. 1 of 10 What kind of lease contains a recapture clause? She would likely be required to do which of the following? The home has been listed for several months; so Pam does a CMA and determines that the offer is more than reasonable in todays market. B. Offer to Purchase Form - Fill Out and Sign Printable PDF Template | signNow D. Supply cannot be moved to a high demand area. B. 4- Agent Greg receives a call about one of his firms ads. 99- All exclusive listing agreements must have, C. A list of personal property included in the sale. The sales agent should: Write a counteroffer stipulating the sellers' request. Making An Offer To Buy A Business - 6 Key Considerations - Forbes D. Make the headline bold and all caps. An Offer to Purchase REval Estate (the "Offer") is a document that sets out the basic proposed terms and conditions between the Buyer and the Seller in a rEval estate transaction. What should a licensees written employment agreement contain? They called Wills office and told the secretary they are upset and need to speak with Will. C. FSBO sellers who list with an agent will pay their own advertising costs. He refuses to rent the other unit to families with children. 3- Differentiate between mortgage brokers and mortgage bankers. B. C. Is not necessary if the verbal presentation is strong. 41 of 50 What was the important ruling in Jones v. Mayer? Pellentesque dapibus efficitur laoreet. D. Collecting information and pre-qualifying buyers yourself is the easiest and best approach. Underline each word that should be capitalized in the following items. C. Clearly written contractor agreement must exist. Post by; on fulgrim vs guilliman excerpt; clubhouse baseball iphone . Buyer Norm just signed a purchase contract with licensee Pat. You can make a Best Offer on listings that have a Make Offer button. B. Ken must obtain his own training.
Discord Tags That Aren't Taken,
No Connection Chat And File Transfer Are Limited Oneplus,
Articles B