buyer randy makes an offer to purchase 10- Which disclosures are NOT required to be made when selling residential property? 36 of 50 Agent Pam receives an offer on one of her listings for less than the asking price. 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. 99- All exclusive listing agreements must have, C. A list of personal property included in the sale. California: Real Estate Practice Ch3 Quiz with no answers. A week later, the salesperson takes a new listing and prepares an offer for her seller from her brother/client. 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? 46- A life insurance company would most likely invest in all but which of the following properties? D. The loan must be repaid before the borrowers death. Give the prospects a black copy of a purchase agreement to look over. A. Mary writes a letter rescinding her offer and hand delivers it to Sam Sunday night. 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? 8. A broker may advertise that he or she is an escrow agent. What property type will he be dealing with? What would we call Hannah? What kinds of things should he be looking for? What will the new owners pay in property taxes? B. 9- What required disclosure is a result of Megans Law? Goodwill is an intangible asset that results from the reputation of the business. kennesaw state football depth chart; 2022617 buyer randy makes an offer to purchase 48 of 50 Which of these lenders would be the least likely to lend money for an investor to purchase an apartment building? D. Hold both offers because he heard that a full-price offer is on its way. 4 of 11 Which of these is also called a contract for deed? 4- What items are not covered by any title insurance policy? Secure documents that are public information from the courthouse and other sources available to the public. D. Offer something valuable to the reader. Answer: C- 10% of the sales contract offer, What is the suggested response when a buyer asks "Do you think the seller will come down on the price?" 61- Bill and Sue secured a mortgage loan that is tied to an index which fluctuates over the life of the loan. C. Analyzing the income potential of the property. sam neill laura tingle split A. Broker Bob has a listing with Sam Seller and calls Sam to tell him Bob has received an offer from a buyer. A. Jim specializes in clients who want to buy restaurants. A. Brenda must follow all of Jims instructions. 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? D. If the buyer rejects the first counteroffer, the seller can accept the first offer. 2 of 10 When can a landlord enter a tenants property to make repairs or show it? If the terms offered by the Buyer are acceptable to the Seller, the Seller signs the Offer Form to begin the sale. Is there a contract between the buyer and seller? For purposes of federal income tax, which statement is true? The seller accepts the offer by signing it, puts the accepted offer in an envelope addressed to the buyer, and places it in a U.S. mailbox. \text { Annual cost of scrap materials } & 286,000 \\ buyer randy makes an offer to purchase - nubblesitesolutions.com The check that accompanies the salesperson license application must be for what amount? 3 of 10 Which of these lenders would be most likely to finance a large shopping mall? Deposit the check into his trust fund account on the next business day. Wait until next week to send an activity report, hoping things will pick up. If an item is already correct, write C on the line provided. 60- Seller Tom has an agreement with Broker Bill, Broker Jim and Broker Joe. A. 5- What is the Closing Disclosure? B. Maximize the return to the property management firm. Has Bob acted properly? Which is true? What is this called? 6- Which type of leasehold estate is commonly referred to as a periodic tenancy? 7 of 10 Which of these forms is not filled out by the seller? 10 of 10 Which of the following statements is not true about a net listing? Recommend a counteroffer back to list price. However, he is objecting because the roof is 12 years old. Possession date. Ask the buyers to sign a real estate transfer disclosure statement. 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. B. A. Youll know how much house they can afford. C. Identifies buyers for other properties. Bob should not have presented the offer after the property was under contract to another buyer. C. They can make payments directly to the original lender. C. Use an attractive first-class stamp. 6- Whats important to know about the Liquidated Damages paragraph? Underline the correct pronoun in parentheses in the following sentence. 8 of 10 Which of the following will give you comparative market data the fastest? Find a home that meets FHA requirements. C. If Bill pays off the loan early, there will be no prepayment penalty. What should Bill do? Checking your browser. Tell the sellers exactly how she feels and why she thinks the offer is not a good one. 4- What are the major areas of newspaper leads? 1- What is an important thing to remember about listing agreements? C. If the selling agent does not deal directly with the seller, the selling agent is not required to provide the disclosure. 1- The amount that a seller takes away from a sale is termed: 2- Which of the following best describes prospecting? A. B. Newsletters can be a very effective advertising forum for niche marketers. yellowbrick scholarship reviews. C. Sharing all visitor comments two weeks before the listing ends. A. D. Goals must be realistic if you hope to accomplish them. C. Supervises the Federal Housing Authority. 3- When making your presentation, what topics should you cover? D. Hold it with the buyers permission until the contract is accepted. A. The following table lists all costs of quality incurred by Sam's Surf Shop last year. 20 of 50 Seller Patsy wants to net $150,000 from the sale of her home. Buyers looking at FSBO homes are usually looking for a bargain. 11. A. This form is the first step in any real estate deal. Which of the following is Kirk himself not likely to do during the application process? C. Salespersons must perform all of their activities on behalf of their employing broker. 4- Describe how a property manager can receive his or her fees. Five current listings three recently sold and two expired, C. A minimum of three properties in the recently sold category. What is the primary criticism that sellers have about their agents? 2- What exception exists to the duty of obedience when working with a client? 65- Which of the following items is usually not prorated at closing? ", Which of the following rules deals with specific actions regarding the requirements for handling earnest money deposits? What kind of mortgage are they looking for? B. 1 of 10 Which figure represents the amount of income available as a return to an investor? 4- Why is coordinating escrow so important and how can an assistant help? 55- Greg is approved for a Cal-Vet loan. D. Placing a classified ad in the weekend paper. 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. She discovers that the more time passes, the more she feels frustrated by the seller's lack of cooperation. C. Once filed, it remains until terminated. Tom thereupon submits a full-price offer to the owner and purchases the property. 7. Next, calculate the points charged; $168,500 x 0.02 = $3,370. He succeeds in setting up an appointment to meet with the caller. B. Salesperson Julie can receive her commission from the cooperating broker in her latest transaction. The C. Real estate can respond quickly to changes in the market. When You Should Make a Purchase Offer - The Balance 5- Why is it important for the buyers to indicate whether or not they intend to occupy the property? 44 of 50 Fair Housing laws are designed to: A. 7- If an item is paid for in advance by the seller, how will it be handled on the settlement statement? 51- Which statement is true about a homeowners exemption? Copyright - CaliforniaRealEstateExamAnswers.com - 2023 -, >Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. B. C. The fair market value at the time of sale A. Wills weekly report indicates two showings and five inquiries for the week. 5- What does the safety clause in the listing agreement do? 103- Kirk and Sandy obtained a wraparound mortgage. 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? A. Pellentesque dapibus efficitur laoreet. B. If the loan is VA guaranteed, no down payment is required. What is the market value of the property? What must Tim do? C. A broker is not responsible for the acts of independent contractors. 8- What actions does a lender take to sell a mortgage in the secondary market? A. This broker is guilty of what prohibited activity? 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. Example ______ 1. east of the mississippiriver\underline{\text{mississippi river}}mississippiriver. Housing and Community Development Act. What should Bob do? Suggest that the buyer look at a different house. 8- Under what conditions may a landlord enter a tenants property? 5 of 10 How many properties should be included for comparison in a competitive market analysis? A. Radio advertising is not as effective as other methods because listeners can be distracted by their activities and not hear the ads. Certain homeowners may qualify for a $10,000 exemption. C. Is subordinate to a first mortgage. 1- What is goodwill as it relates to a business? 10 of 10 Which of these individuals could not act as an escrow agent without an escrow license? 48- The public report that a developer must provide when offering subdivided lands for sale is provided by which agency? To learn more about the real estate business, D. To make more money than a real estate agent. B. Ashley should end this relationship by, : asking the seller to sign a mutual release. C. I will open my own office within nine years. Their interest rate will rise after the first few years. Auteur/autrice de la publication : Post published: 16 juin 2022 Post category: aerogarden pump settings for herbs aerogarden pump settings for herbs 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? 12. A. Lenders are in the best position to qualify buyers. 100 His property taxes would be assessed at: 6 of 10 When a person acquires new property, which is true? 4 of 10 RESPA gives the buyer the right to review the completed closing disclosure how long before closing? 8- What does the Water Heater Statement of Compliance address? Sending cards and newsletters is a good way to keep in contact with clients and prospects. C. Maintaining the office filing system. Yes, there was a contract when the seller mailed the offer, If, upon receipt of an offer to purchase under certain terms, the seller makes a counteroffer, the prospective buyer is. Now, calculate the amount by which the remaining $145,000 is reduced; $145,000 x 0.10 = $14,500 (100% - 90% = 10% not covered). 2- What does Proposition 58 state? 6 of 10 A buyer calls your office to inquire about a property he saw advertised. The sales agent should: Write a counteroffer stipulating the sellers' request. This action is legal but very unprofessional. B. Answer: B- Encourage the buyer to get the attorney to review it quickly. buyer randy makes an offer to purchase - fabricadecosas.com Display lots of family photos to impress potential buyers. Try to get Sam to accept the offer. 2- Describe an open listing. The value of the property the borrower wants to purchase, D. The neighborhood in which the property is located. 12,800 square feet C. How much time the licensees must spend in the office. 5 of 10 You should try to attach a rider strip to your For Sale sign that has: 6 of 10 If there is no interest in the property on a given week, the agent should: A. 6 of 10 Who typically presents an offer to the sellers? B. The property is in an area that could flood. 15 of 50 Agent Will has had a listing with the Bryants for 6 weeks. Buyer Norm called and rescinded the offer. The escrow holder will need information about the brokers commission. 6 of 10 Which booklet is not part of the Combined Hazards Book? B. B. buyer randy makes an offer to purchasewhy do my fingertips smell like garlic PB Nitom Blog . Now you have the numbers to plug into the loss formula; Percent of Loss = Loss / Cost or $13,990 / $153,890 = 0.0909. 1 of 10 Broker Alice has hired several independent contractors in her firm. C. An offer or counteroffer can be withdrawn at any time before it has been accepted. 105- Agent Alice has received an offer that she believes is not in the sellers best interest. 3. Then present the $208,000 offer. C. Emphasize that this home is a great buy and it would be a shame for them to dismiss it without looking first. 8. You can use a reverse telephone directory to get the names of residents. 3- What is the difference between CLTA and ALTA policies? C. Exclusive-authorization-and-right-to-sell. 5- What kind of newspaper ad could you place to solicit a listing? 10- Which disclosures are NOT required to be made when selling residential property? 8- When studying the characteristics of an area in which an investment property is located, what factors should the investor look at carefully?

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