A. Jake is getting a VA loan with no down payment. 75- All but which of the following is NOT an AIDA feature? 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 It became a contingent contract when Sam accepted Mary's offer. A. B. Pam is not liable since it was summer and the heating problem was not obvious. Fill out a separate, numbered counteroffer form. 7- If an item is paid for in advance by the seller, how will it be handled on the settlement statement? Answer: A- Write a contingent counteroffer, Which of the following statements best describes a backup offer? What approach can their agent take to change the sellers perception of the offer? B. A. 31 of 50 Which of the following AIDA characteristics is the most critical in the ad? The original loan becomes subordinate to the wraparound. A broker may require licensees to carry high levels of automobile insurance. They will have to make a very high down payment. 56- Which is not a true statement about the Agency Disclosure? B. A. CSP-Conlutas Central Sindical e Popular . The If the loan is VA guaranteed, no down payment is required. 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. 69,200 If the terms offered by the Buyer are acceptable to the Seller, the Seller signs the Offer Form to begin the sale. First mortgage on a single-family home, C. Primary mortgage on an office building, D. Settlement charges on a shopping center. A purchase offer is a binding contract between the buyer, the seller and their agents. 18- In a transaction that involves the purchase of a business, what document functions in the same way as the deed in a personal real estate transaction? 5 of 11 Which of these statements is true about a CalVet loan? Minimize expenses while maximizing profits for the owner. Has Bob acted properly? They called Wills office and told the secretary they are upset and need to speak with Will. The advertiser is subject to a fine. 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. If something truly is a deal breaker and a line in the sand for you, that is fine, but stick to it. What does that mean? Nam risus ante, dapibus a molestie consequat, ultrices ac magna. B. 2 of 10 Which is not a true statement about the Americans with Disabilities Act? 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. I do not know (who\underline{\text{who}}who, whom) the guest speaker will be. 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. D. Meet with the buyers lender to ensure theyre getting a good deal. D. All repairs must be in compliance with existing building codes. 2 of 10 Assistants who are asked to be available for tasks in the field rather than in the office are referred to as: 3 of 10 Which of these items on a resume accompanying an application for an assistants position should be kept brief? The second mortgage has now become the primary loan. Installation of central air conditioning, D. Addition of a tenant laundry facility. A. 4 of 10 What is a good method for an assistant to keep track of the various types of files a real estate broker must have? To access the website, click "Allow". B. Sandy and Bill are putting 30% down on their home purchase. The other 75% came from an hourly wage paid by Tami. 11 of 50 Jake and Janet are required to pay 4 points on the $80,000 loan they are getting. Be a deal maker. 8 of 10 When is the first installment of property taxes due? munich latitude compared to us; pro sun tan. 39 of 50 Prospects Mike and Marge arrive with agent Elaine at a showing. 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? 3 of 10 The IREM designation reserved for individuals who meet a certain level of education and experience is: 4 of 10 When setting up a rent schedule, a property manager should analyze all but which of the following? 4 of 10 If someone shows up at the sellers door unexpectedly to see the home, the sellers should: C. Take their names and call your office. A basis of $148,000 and no taxable gain, B. 8- Which section of the purchase agreement does not apply directly to the buyers and sellers? Next, calculate the points charged; $168,500 x 0.02 = $3,370. At the end of the term, the loan balance will be negative. 59- Which of the following is a sellers request that an agent cannot honor? This is not true of which duty? B. 3 of 10 Which of these lenders would be most likely to finance a large shopping mall? A buyer wants to take the offer to an attorney to review it. D. I will complete a property management seminar within the next year. A. 12- What are grant programs typically used for? 4 of 10 Which of the following would be the least desirable phone handling technique? C. Present the $208,000 offer and the $200,000 offer together at the same presentation meeting. 81- Jake has decided to specialize in working with clients who purchase schools. D. Seeking buyers for others agents listings. What is important to remember about capturing the readers attention? Two months later she purchased and moved into a new home that cost $145,000. Who makes the payments to a claimant from the Guaranty Fund? Now, calculate how much you lost: $153,890 - $139,900 = $13,990. 11- What are the penalties for violating Regulation Z? 2. Give the sellers a copy of some homeowners tips. Study the other terms of the offer so that you can maximize the offers benefits and minimize the lower price. If the loan is for $68,000, what will Mark be assessed in points? He sold the home for $750,000 and paid $50,000 in selling expenses, including the brokers commission. California: Real Estate Practice Ch4 Quiz with no answers, answers will be revealed with proper subscription. 7- Agent Jim needs to do a visual inspection of his listing. B. 5. First, determine what you originally paid for the house: $139,900 x 1.10 (100% + 10% = 110% or 1.10) = $153,890. buyer randy makes an offer to purchase Five current listings three recently sold and two expired, C. A minimum of three properties in the recently sold category. D. Have the broker send a thank you for listing letter to the sellers. Answer: B- The contract is voidable due to mutual mistake. A. B. C. Real Estate Settlement and Procedures Act. B. C. Ask the caller when not if he or she wants to see the property. Underline each word that should be capitalized in the following items. D. Buyers of FSBO homes are usually the ones who save money. A. D. Placing a classified ad in the weekend paper. Lorem ipsum dolor sit amet, consecteticitur laoreet. D. Magazine ads are significantly more expensive than newspaper ads. 9 of 10 A shopping center would be primarily categorized as what type of property? 18 of 50 The listing type that assures a broker that he or she will receive compensation no matter who procures the buyer is what kind of agreement? The Haleys want to get a mortgage that will cover the purchase price plus all the furnishings. Tell Linda that the sellers will be very disappointed if they cancel the appointment. 6- What is the Real Estate Transfer Disclosure Statement and who is responsible for providing it? They sold the home for $450,000 and paid $30,000 in selling expenses, including the brokers commission. 102- What is the minimum period of time over which the owner of a commercial building can depreciate the improvements? 2. 4- What is a good method for estimating what a seller will net from the sale of the property? 8 of 10 Which statement is true about a real estate assistant? D. The borrower gets a note in exchange for a mortgage. Tell the buyer about the other offer and urge the buyer to skip the attorney. A. 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? 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. Display lots of family photos to impress potential buyers. 60- Seller Tom has an agreement with Broker Bill, Broker Jim and Broker Joe. 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? A. A. 5 of 10 Which of these is not a true statement? 30 of 50 After six months time, manager Tim wants to terminate the lease of one of his month-to-month tenants. C. Classified ads placed on the property, D. Number of hits on the company website. is 0.4. Start in the room with the best features. Please remove your shoes before entering the home. Is there a contract between the buyer and seller? Making An Offer To Buy A Business - 6 Key Considerations - Forbes C. Write and sign commission checks to salespersons. They will have a number of new expenses as a result of this purchase. 10 of 10 Which of the following statements is not true about a net listing? 8 of 10 Proof of ownership of a property is called: 9 of 10 Who is responsible for ordering the preliminary title report? D. The advertiser must prove he was grandfathered in as a licensee. Only after receiving the tenants consent. 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. 8. Receives special tax considerations. Example ______ 1. east of the mississippiriver\underline{\text{mississippi river}}mississippiriver. Sets a limit on the commission a broker can earn. Mary makes an offer to purchase a duplex from Sam. 5- Define the term loan-to-value ratio. 1 of 10 Which of the following types of agency is not allowed in California? D. Call the sellers immediately and let them know you wont be coming by. Which of the following would be the least likely place for them to obtain a loan? Jim and Jane financed the remaining $25,000 through the seller. Harry has some buyers that he believes are ready to make an offer. Enter your offer. C. FSBO sellers who list with an agent will pay their own advertising costs. B. Jim Sharp is purchasing his fathers home. 4- What items are not covered by any title insurance policy? 17 of 50 Kathy is a personal assistant at Action Realty. D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. A. California: Real Estate Practice Ch8 Quiz with no answers. Which statement is true? 12,800 square feet 7 of 10 Which paragraph of the purchase agreement must be initialed by both buyers and sellers for it to apply? 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? 100- What does the Real Estate Disclosure Law refer to? 3- When preparing a competitive market analysis, what categories of homes should an agent research? What should you keep in mind when developing your marketing plans? The sellers want the earnest money check made payable to them instead. Sam plans to overnight the acceptance on Monday. If a person feels like he or she has been discriminated against, how long does that person have to file a complaint? What is the result? 4- What is a good method for estimating what a seller will net from the sale of the property? 47- Which of the following duties is not a permitted activity for an unlicensed personal assistant? 3 of 10 All of these items are important to include on your weekly activity report except which? 3- What is the difference between CLTA and ALTA policies? 7 of 10 Which disclosure form gives detailed information about the propertys condition? A. Supervises the Truth in Lending Act. From whom may a salesperson receive compensation for performed activities? 9 of 10 All of these might be a buying signal except which? 2 of 10 When presenting information about the buyers to the sellers, which piece of information might not be useful in helping the sellers make a decision? 4- What items are not covered by any title insurance policy? C. Alice is getting a conventional loan and making a 15% down payment. Terminate the first contract and accept the higher offer. Answer: A- Proceed as if the buyer has decided to make an offer. Deposit the check into his trust fund account on the next business day. 5- What is the Closing Disclosure? B. 12. 2. They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. Course Hero is not sponsored or endorsed by any college or university. What are members of NAR required to do? Buyer Norm called and rescinded the offer. buyer randy makes an offer to purchase. D. Erics broker should appoint Eric as the designated agent in this transaction. List the details of all parties involved. 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. C. Explain your marketing plan to the sellers. 2 of 10 Which of the following is not a fiduciary duty an agent owes to his or her principal? buyer randy makes an offer to purchase. 20 of 50 Seller Patsy wants to net $150,000 from the sale of her home. Find solutions. 10 of 10 All of these activities are appropriate to do within the first few days of obtaining a listing except which? For what type of loan is the borrower applying? How are properties affected by the local economy? There is nothing that can offset this problem. D. Lends good visual support to what the agent is saying. 8- Under what conditions may a landlord enter a tenants property? 7 of 10 If a broker receives a deposit check with a purchase contract, which of these is he not allowed to do? 9 of 50 Which of the following is a credit to the seller on the settlement statement? "No, you may lose the house." 11- What is a public report and when must it be provided? Could be a violation of state licensing laws. Mary writes a letter rescinding her offer and hand delivers it to Sam Sunday night. D. Tell the sellers its time to reevaluate the price. What should Bob advise Sam? 1- When preparing to present an offer to the sellers, what kinds of supporting information can be helpful? 43 Offer To Purchase Real Estate Templates (& Letters) What is meant by the term sphere of influence? B. 4- Describe a reverse annuity mortgage. California: Real Estate Practice Chapter 17 Quiz with no answers. If a buyer has given the broker a signal that the buyer is ready to make an offer, what should the broker do to get the buyer to make the offer? 45- Kirk wants to get an FHA loan. His property taxes would be assessed at: 6 of 10 When a person acquires new property, which is true? What must Tim do? C. Real estate can respond quickly to changes in the market. A. The lender makes payments to the borrower. C. The air conditioner does not work. C. Recommend a counteroffer back to list price. C. An assistant can keep track of the progress of activities during escrow. 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. What is this called? Fusce, Explore over 16 million step-by-step answers from our library, acinia pulvinar tortor nec facilisis.

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