Entails entering into two agreements simultaneously. 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. 9 of 10 Which of these is not a helpful homeowner tip? Terminate the first contract and accept the higher offer. 1 of 10 Which Fair Housing Law added sex to the list of protected classes? A broker may advertise that he or she is an escrow agent. C. The owner has 45 days to pay the new property taxes. Step 2. 4- Whats a bonus closing and whats important to keep in mind about this technique? 8- Why should agent Grace give her client a Combined Hazards Book? Code Violations and Tax Delinquencies. Two weeks before the close of seller Jan's property, buyer Sam makes an offer. C. Tell the sellers you expect an offer to be coming soon. This best describes. 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. A. Jim specializes in clients who want to buy restaurants. A. Answer: B- Encourage the buyer to get the attorney to review it quickly. Rule F-1. 60- Seller Tom has an agreement with Broker Bill, Broker Jim and Broker Joe. Course Hero is not sponsored or endorsed by any college or university. 5- What should a good management contract contain? Has Bob acted properly? 9- What is the basic purpose of Truth in Lending Regulation Z? First mortgage on a single-family home, C. Primary mortgage on an office building, D. Settlement charges on a shopping center. C. Identifies buyers for other properties. Buyers make an offer to purchase property and to place $1000.00 earnest money into their broker's trust account. 5 of 10 What would be the least effective way to get to know your buyers needs? Norm gave Pat a $500 earnest money check. C. Is subordinate to a first mortgage. B. 12- The second installment of property taxes comes due on: 13- Seller Jim tells his agent Branda that he does not want his home marketed to families with children. A. Smoke Detector Statement of Compliance, D. Sellers Affidavit of Nonforeign Status and/or California Withholding Exemption. A. Generates leads for new listings. Give the deposit money to the seller. 43 of 50 Which one of these statements would not be considered a measurable goal? A. Wills weekly report indicates two showings and five inquiries for the week. Authors Channel Summit. The Residential Environmental Hazards Guide, B. It took effect when Sam accepted Mary's offer. : The Commission could suspend or revoke Rob's license. $5,500 the first year, plus a maximum 2% increase in market value per year, B. Randy and his real estate agent, Bob, enter into a listing agreement whereby Bob may list Randy's property but Randy may also try to find a buyer Bob finds Clarice, a buyer who has enough cash to purchase the property and would like to purchase the property today. California: Real Estate Practice Ch5 Quiz with no answers. Once you've found an item you want to buy that accepts Best Offers, here's how to make your offer: Choose Make Offer. A. A. 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. If the loan is for $68,000, what will Mark be assessed in points? One day later. If Broker Tom procures a buyer for Jack, Tom will get the commission and Alice will not. Most likely, what did they get? 4 of 10 Which of the following is NOT a condition of the safe harbor test? D. Whether or not the licensees attend staff meetings. 2- When establishing rapport, whats one of the best ways to get to know your buyers? 53- Greg sold an apartment building he owned for 20 years. Practice exam for California Real Estate Practice Class, Answers will be revealed with the correct subscription. buyer randy makes an offer to purchase - cspconlutas.org.br D. Exclusive-authorization-and-right-to-sell agreement. fairbanks ice dogs standings . A. Lead-based paint was used in the home. 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. 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. Which law extended discrimination to include handicap and familial status? From the 100' frontage, subtract the 10' per side setback (100' - 20' = 80'). A. A. Greg is violating the duties he owes to his new buyer. 8 of 10 When is the first installment of property taxes due? It must be in writing to be enforceable. 3 of 10 Sara just bought her first new home. What should agent Phil do? Before the sale can get finalized, the owner would require you to first meet certain conditions. What is this called? Change the locks on the tenants apartment. B. What approach can Greg use to discourage the person from calling other agents? The lender gives a mortgage to the borrower and gets funds in exchange. \end{array} B. On what amount will they pay capital gains tax? 6- What is the ultimate result of using the Closing Disclosure form? B. 1 of 50 Which of the following newspaper information is not helpful in developing a Prospecting Plan? 4 of 10 Once an offer has been accepted, the agent should do all of the following except which? If a seller is in a multiple offer situation, how do you determine the best offer? California: Real Estate Practice Ch8 Quiz with no answers. 3. 7 of 11 In which of the following types of loans is the payment allocated only to interest? 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. A. 47 of 50 Which of the following would not qualify as a 1031 exchange? 3- When making your presentation, what topics should you cover? When should the agent have disclosed this fact? During this interim period, grant makes monthly rent payments and the owner accepts them. B. Who will pay the points? A. 8- Why is it important to have a written prospecting plan? CSP-Conlutas Central Sindical e Popular . 4- Explain the documentary transfer tax. B. 9- What required disclosure is a result of Megans Law? rickey smiley and grandson videos 103- Kirk and Sandy obtained a wraparound mortgage. 4- What do Fannie Mae and Ginnie Mae do that Freddie Mac does not? 5 of 10 Which of the following would not be a reason to choose to be an assistant? A. 9% B. 20 of 50 Seller Patsy wants to net $150,000 from the sale of her home. 2. During a phone call, a salesperson discusses showing a property to a prospect. 6 of 10 Which of these is an emotional reason that buyers buy property? 57- Under federal income tax law, the basis for a personal residence is which of the following: 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. This mortgage type is popular among the elderly. 10 of 10 Which of these is not an exemption to fair housing law? They will have to make a very high down payment. 6- How does a limited partnership differ from a general partnership? 5- What kind of newspaper ad could you place to solicit a listing? "Yes, let's offer $10,000 less than the asking price. The date Abby receives the good faith estimate. What percent of loss did you have? D. The loan must be repaid before the borrowers death. 10 of 10 Which of the following is not a possible benefit of investing in real property? C. Greg has violated the duty of confidentiality to Kim. A. What is meant by the term sphere of influence? A. What is important to remember about capturing the readers attention? 6 of 11 Which of the following is not true about reverse annuity mortgages? buyer randy makes an offer to purchase. D. Have the prospects sign the disclosure about agency relationship. 1 of 10 Gail is a licensed real estate assistant. buyer randy makes an offer to purchase. 8- What does the Water Heater Statement of Compliance address? D. Is best left to experienced brokers. B. 9. C. Insurance agents dealing with customers. Pellentesque dapibus efficitur laoreet. His depreciation was $2,500 per year. 3- What are the three general responsibilities of a property manager? 4- Describe how a property manager can receive his or her fees. What should Alice do? B. D. The monthly payments increase overtime. What would be determined by a location survey? 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? B. What law creates an automatic lien on a commercial property, subject to the listing agreement? C. Write and sign commission checks to salespersons. A duplex owner might need to remodel the kitchen in the rental unit to accommodate persons with disabilities. C. A seller can sell his or own home and owe home and owe no commission if he or she signs an exclusive agency listing. In addition to agent and MLS home tours, what are some other ancillary tools you can use? Name four traditional marketing tools that you should use with every listing you get. C. Analyzing the income potential of the property. the buyer is not allowed to make a counteroffer. 105- Agent Alice has received an offer that she believes is not in the sellers best interest. What kind of loan do they have? lumberton man killed; guggenheim annuity rates. B. Alice knows everything about the exclusive east side neighborhoods. A. Example 1. 4 of 10 If a person believes he or she has been discriminated against, how long does he or she have to file a HUD complaint? D. Broker Tom has only limited responsibility for the actions of his licensees. They were counting on a full-price offer and are very disappointed. 2 of 10 Developing a prospecting plan is similar to: 3 of 10 Which of the following is not a legal notice that can provide a listing lead? 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? 2- What does Proposition 58 state? 7- What happens if the parties do not initial the section of dispute resolution that deals with binding arbitration? 85- Which paragraph of the purchase agreement states that the balance of the purchase price will be deposited into escrow prior to closing? 75- All but which of the following is NOT an AIDA feature? What kinds of things should he be looking for? Make no recommendations and let the sellers decide on their own. C. Broker Harry deposits $1000 into his brokerage business account. Give a discount to families with children. Use as little white space as possible. A. B. Post by; on fulgrim vs guilliman excerpt; clubhouse baseball iphone . Study the other terms of the offer so that you can maximize the offers benefits and minimize the lower price. 1. D. Buyers of FSBO homes are usually the ones who save money. 5 of 10 RESPA applies to all of the following EXCEPT which? 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? The advertiser is subject to a fine. Which of the following activities would she not be authorized to perform? B. 4. cross elasticity of demand for train rides with respect to the price of a plane ride 42- Alice is planning her career and setting her goals. A. Youll know how much house they can afford. D. Written escrow instructions must include a statement with the brokers name, indicating he or she is a licensed real estate agent. 07 Jun. 35 of 50 Agent John just listed a home in a mid-range priced neighborhood. 6 of 50 Broker Tami has a very low advertising budget. 10 of 10 Which of these Internet pages might be of particular interest to sellers? D. Broker Gina puts $150 into her trust account. The escrow holder will use the purchase agreement as the basis for writing the escrow instructions. 4- Why is coordinating escrow so important and how can an assistant help? Could be a violation of state licensing laws. Course Hero is not sponsored or endorsed by any college or university. 1- What are the five aspects that are involved in any selling approach? What approach can their agent take to change the sellers perception of the offer? 33- Which statement is true about a loan that has a negative amortization? 3 of 50 Paul is filling out the Natural Hazard Disclosure Statement. B. 1 of 10 What form can an agent use to show a seller what he or she will net on the sale of the property? Free Purchase Agreement | PDF & Word | Legal Templates 6 of 10 Which of the following is not a probable reason for a listing to expire without selling? Is critical to your success in real estate. 33- Which statement is true about a loan that has a negative amortization? D. Pam is has no duty to investigate and may rely on the opinion of a heating professional or home inspector. Which term is the process of joining several parcels of land into one larger parcel? Ask questions of the prospects children. Share that information with the sellers. Find solutions. 8 of 10 Which of these marketing tools is not considered a traditional tool? 8 of 10 What does the paragraph on repairs state? D. Have the broker send a thank you for listing letter to the sellers. B. 104- Lorna and Hal have obtained a growing equity mortgage for their new home. B. Greg has put himself in a potential dual agency situation. A. buyer randy makes an offer to purchase The owner has 30 days to notify the county assessor. 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? 10 of 10 When a tenant agrees to pay all taxes, insurance, maintenance and repairs, that tenant has what kind of lease? 10 of 11 Mark gets a home loan and the lender will charge him 3 points at closing. 37 of 50 Which of the following economic characteristics is true? What does that mean? A. 11 of 50 Jake and Janet are required to pay 4 points on the $80,000 loan they are getting. The advertiser can be sentenced to up to a year in prison. Certain homeowners may qualify for a $10,000 exemption. 6- What does the security and insurance clause of the listing agreement address? 29 of 50 What is one way the Federal Reserve System regulates the money supply? B. 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? There are no offers on the property during the 6-month listing period and the listing expires. 10- Which disclosures are NOT required to be made when selling residential property? Why or why not? What do you need to remember about making phone calls to potential clients? D. Do not show the home between 10 a.m. and noon on Sundays. Now, calculate the amount by which the remaining $145,000 is reduced; $145,000 x 0.10 = $14,500 (100% - 90% = 10% not covered). D. Similar expired listings that didnt sell. New Age purchased a new coffee maker the office was in need of. Broker John puts $500 into his trust account. Underline each word that should be capitalized in the following items. ", Answer: A- "What would you like to offer? 19- Which of the following is not an advantage of hosting an open house? C. The home sits on an earthquake fault zone. Making a Best Offer | eBay 5- Your listing presentation manual should be made up of two sections that address what issues? From the 200' depth, subtract the 20' rear and front setback (200' - 40' = 160'). What California Fair Housing law has the manager violated? At time of license renewal, what is the renewal charge for a salespersons license? Which statement is true? What kind of mortgage might they get? A. The offer with the fewest contingencies Here are the steps to follow to make an offer to purchase: Step 1. Jim has decided to specialize in what area of real estate? A buyer wants to take the offer to an attorney to review it. A. What kind of lease does Jim have? 7- What does the paragraph in the listing agreement titled Entire Contract deal with? The value of the property the borrower wants to purchase, D. The neighborhood in which the property is located. Tell the sellers exactly how she feels and why she thinks the offer is not a good one. Mary wants to make an offer on a house that is 25% lower than the asking price. In which stage of the General Adaptation Syndrome *(GAS) are bodily resources drained and stress hormones depleted? 7 of 10 Which paragraph of the purchase agreement must be initialed by both buyers and sellers for it to apply? 100- What does the Real Estate Disclosure Law refer to? A religious organization providing housing to members only, C. The sale of a single-family home by an owner who owns five residences, D. Rental of a unit in an owner-occupied four-family flat. Which area of specialization would she fall into? D. The first and second mortgage will be rolled into one. Hikayemiz; Misyon & Vizyon; Kalite Politikamz; Sertifikalarmz; ISPM-15 aretleme zin Duyuru; Sosyal Sorumluluk; Hizmetlerimiz 5 of 10 How many properties should be included for comparison in a competitive market analysis? He sold the building for $1,000,000 and paid $60,000 in commission to the broker. 10 of 10 Which of the following statements is not true about a net listing? AnnualinspectioncostsAnnualcostofscrapmaterialsAnnualreworkcostAnnualcostofqualitytrainingAnnualwarrantycostAnnualtestingcost$155,000286,00034,679456,0001,546,000543,000.
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