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There . A. Underline each word that should be capitalized in the following items. How long must a broker be licensed in order to apply for a temporary broker's license? B. D. Tell the sellers its time to reevaluate the price. 10 of 10 The cost of doing direct mail advertising depends on all of these things except which? A. B. C. Theyre probably paying a higher interest rate on the second mortgage. D. Magazine ads are significantly more expensive than newspaper ads. 6- When is a lender required to terminate a borrowers private mortgage insurance? One offer is for $208,000; the other is for $200,000. On what amount will he pay capital gains tax? 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? 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. 7- What does the paragraph in the listing agreement titled Entire Contract deal with? You had a 9% loss. Answer: D- They are effectively terminating the original offer. Bob Broker represents Mary Buyer. Agent Sally tries to match her clients with neighborhoods that have similar cultural and racial backgrounds. A. D. Amanda smiles at Jim when she sees the whirlpool tub. Is depreciation accounted for by a hospital? What percent of loss did you have? Authors Channel Summit. Course Hero is not sponsored or endorsed by any college or university. D. Meet with an inspector at a listing. Buyer Randy makes an offer to purchase one of Broker Tom's 44- Jim owns a gift shop in a commercial building. 7 of 10 Which document shows the assets and liabilities of a business? The broker will owe fiduciary responsibilities to the seller as well as the buyer. What should Elaine do? D. The monthly payments increase overtime. Maximize the return to the property management firm. A rental condominium for a recreational vehicle. buyer randy makes an offer to purchasewhy do my fingertips smell like garlic PB Nitom Blog . The lender must furnish a copy of the CFPB booklet to Abby no later than the third business day from which date? 44 of 50 Fair Housing laws are designed to: A. An agent should print off a copy of the listing on the companys Internet site to send to the sellers. 8 of 10 Which kind of listing gives one broker the right to sell, but allows the owner to sell the property and not owe a commission to the broker? During a phone call, a salesperson discusses showing a property to a prospect. You can make a Best Offer on listings that have a Make Offer button. D. Give the sellers the price over the phone so that they can think about it before you meet with them. C. Payments will not be enough to retire the loan. What does the net operating income of a property represent? A. A. What should Bob do? 1- What are the five aspects that are involved in any selling approach? 6 of 10 Which of these is an emotional reason that buyers buy property? 5- What kind of newspaper ad could you place to solicit a listing? 2. 8 of 10 Proof of ownership of a property is called: 9 of 10 Who is responsible for ordering the preliminary title report? B. 6 of 10 Which of the following is not a true statement? Buyer Amanda asks if she can measure the windows to see if her current drapes will fit. 2 of 10 How long must buyers and brokers keep the documentation on a foreign sale? C. Use an attractive first-class stamp. 10- Whats the difference between a lease purchase and a lease option? 2- Describe an open listing. California: Real Estate Practice Ch4 Quiz with no answers, answers will be revealed with proper subscription. 43- The Equal Credit Opportunity Act (ECOA) requires lenders to: A. A. Jake is getting a VA loan with no down payment. B. 11- What is a public report and when must it be provided? Making a Best Offer | eBay What is most likely their main motivation for investing? Study the other terms of the offer so that you can maximize the offers benefits and minimize the lower price. Tom thereupon submits a full-price offer to the owner and purchases the property. 3 of 10 How long must trust account records be kept? What is the result? This form is the first step in any real estate deal. 9 of 10 An agent must give a copy of the listing agreement to the sellers: A. They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. 57- Under federal income tax law, the basis for a personal residence is which of the following: A. Now you have the numbers to plug into the loss formula; Percent of Loss = Loss / Cost or $13,990 / $153,890 = 0.0909. 6 of 10 Which of the following is not a probable reason for a listing to expire without selling? He says to them, Would you prefer to take possession on September 1 or October 1? What kind of closing technique is Harry using? He says to them, "Would you prefer to take possession on September 1 or October 1?" 1. B. 4- Describe a reverse annuity mortgage. What should Bill do? The appraised value is $86,500; 80% of that amount is $69,200 ($86,500 x 0.80). In fact, the meter's location is dictated by the town building codes; what could happen to Rob? 37- When dealing with the sale of a business, which is not a true statement? 43 of 50 Which one of these statements would not be considered a measurable goal? 3 of 10 When must a listing agent present the Disclosure Regarding Real Estate Agency Relationships to the seller? B. A. A. 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. 2- What types of office administration tasks are important for a licensed assistant to perform? A. 7 of 10 How might probate information help in prospecting? B. From whom may a salesperson receive compensation for performed activities? He succeeds in setting up an appointment to meet with the caller. 6- What is important for the sellers to know about a counteroffer? C. The buyers and sellers agents will sign the escrow instructions. 30- Being prepared to handle incoming phone calls means all of the following except which? Her broker has asked her to be available for tasks in the field rather than in the office. D. The date Abby makes the request to receive the booklet. Ashley should end this relationship by, : asking the seller to sign a mutual release. Buyer Norm called and rescinded the offer. B. I will do two practice listing presentations per week with an experienced agent for the next two months. This action is legal but very unprofessional. California: Real Estate Practice Ch7 Quiz with no answers. An apartment building for a vacant lot, B. Underline the correct pronoun in parentheses in the following sentence. From the 200' depth, subtract the 20' rear and front setback (200' - 40' = 160'). California: Real Estate Practice Chapter 17 Quiz with no answers. Buys pools of mortgages in exchange for mortgage-backed securities. D. An exclusive listing must always be at least 30 days long. 1- How much is the loan origination fee and what does it cover? D. Broker Gina puts $150 into her trust account. 1. D. Arrange to meet the prospect at your office. Which statement is true? B. However, she believes the sellers will not be willing to accept the offering price. Tell the sellers exactly how she feels and why she thinks the offer is not a good one. Norm gave Pat a $500 earnest money check. It was terminated when Mary delivered the recission to Sam. If a person feels like he or she has been discriminated against, how long does that person have to file a complaint? C. Your plan for finding the buyer a home. 8- What actions does a lender take to sell a mortgage in the secondary market? What economic factors affect the real estate market as well as other goods and services? 7 of 10 Which of these is not a good thing to do when writing a counteroffer? 8- What does the Water Heater Statement of Compliance address? D. Chris is a buyer's agent. an opinion of value for the day of the appraisal only. 9- What is the basic purpose of Truth in Lending Regulation Z? The advertiser is subject to a fine. Set up a face-to-face meeting with the sellers as soon as possible. What should Tim do next? A. Greg Burns is selling his interest in his home to his wife Melanie as part of their divorce settlement. Change the locks on the tenants apartment. 9- What required disclosure is a result of Megans Law? Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. 5- Under what circumstances can a loss on the sale of a personal residence be deducted from income taxes? Mary wants to make an offer on a house that is 25% lower than the asking price. 52- Which statement is true about a listing contract? 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? Buyer Jim asks if he can visit the property for a second time. Which of the these activities does she have control over? 3- Differentiate between mortgage brokers and mortgage bankers. Ask the buyers to sign a real estate transfer disclosure statement. The difference between what Sara owes and what her home is worth is known as what? A. John offers weekly training seminars. A. 26 of 50 Veteran Bill has applied and been approved for a non-VA-guaranteed CalVet loan. A. Brenda must follow all of Jims instructions. A. C. Sharing all visitor comments two weeks before the listing ends. A. When You Should Make a Purchase Offer - The Balance buyer randy makes an offer to purchase - pet-anneve.com B. 4 of 10 Once an offer has been accepted, the agent should do all of the following except which? What is this called? PRACTICE QUESTIONS), (correct answers will be revealed with correct subscription). 7 of 10 Which paragraph of the purchase agreement must be initialed by both buyers and sellers for it to apply? 8 of 10 Which of the following is a good direct mail technique? 10- Which of the following prospecting techniques do you have to use carefully because it has tended to upset people in recent years? 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. 3- What is a good approach to use when contacting the owner of an expired listing? 3- When making your presentation, what topics should you cover? 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? A. What should Jake do? View an objection as the buyers request for more information. To purchase conventional, FHA and VA loans, D. To insure conventional, FHA and VA loans. 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. 2. Nam lacinia pulvinar tortor nec facilisis. Senior housing for residents 62 or older, B. by | Jun 16, 2022 | baja telecaster vs american special | muslim population in spain in 2021 | Jun 16, 2022 | baja telecaster vs american special | muslim population in spain in 2021 1- What is an important thing to remember about listing agreements? 10. 14 of 50 The title report on a property shows there is a lien on the property. Which of the following statements is true? B. A. 48- The public report that a developer must provide when offering subdivided lands for sale is provided by which agency? A. Only needs to be done periodically. 7- Agent Jim needs to do a visual inspection of his listing. Mortgage bankers bring borrowers and lenders together. Licensee Pat was in transit to the cooperating licensee's office with the offer. A buyer mails an offer to an out-of-town seller. Five current listings three recently sold and two expired, C. A minimum of three properties in the recently sold category. C. Offer to show the caller a newly-listed, not-yet-advertised property, even if one doesnt exist. D. Exclusive-authorization-and-right-to-sell agreement. Three days later, the agent shows the property; at that time the customer reveals her financial abilities and motivation. B. Rate of return is computed by dividing the annual net income by the rate of return. B. I will practice my listing presentations. buyer randy makes an offer to purchase. Plastic dishes last a long time because they are unbreakable. B. Course Hero is not sponsored or endorsed by any college or university. Present the $208,000 offer today and wait for a response from the sellers before he presents the other offer. It helps to identify buyer and seller needs. A secondary bid for a property from the same buyer. Name four traditional marketing tools that you should use with every listing you get. Installation of central air conditioning, D. Addition of a tenant laundry facility. buyer randy makes an offer to purchase. 7- What makes up a mortgage? 2- What are some tax benefits associated with investing? Hes very comfortable selling that type of property and knows he can work well with clients in that area. What kind of closing technique is Jim using? A. During this interim period, grant makes monthly rent payments and the owner accepts them. Where is it that he likely found out the property was for sale? B. Pleases the sellers by inv=creasing activity. \text { Annual cost of scrap materials } & 286,000 \\ Enter your offer. C. Give the tenant a 3-day notice to pay or quit. 8- Under what conditions may a landlord enter a tenants property? Attend weekly staff meetings at the office. If an item is already correct, write C on the line provided. The escrow holder will use the purchase agreement as the basis for writing the escrow instructions. Broker Alice holds an uncashed check until the offer is accepted. C. Discuss alternative properties that may be interest. 104- Lorna and Hal have obtained a growing equity mortgage for their new home. 9 of 10 When you believe an offer is both fair and reasonable but it does not meet the sellers asking price, you should: A. The price elasticity of demand for A. 50 of 50 Eric is acting as a disclosed dual agent in a transaction. The monthly net rental is $600. D. Interest rates are typically fixed rate. Availability of multiple listing service, C. Broker-paid advertising and promotion, D. Assistance with filling out disclosures. B. The purchase price, plus depreciation, B. B. 1- What is important to know about unlicensed real estate assistants? B. 6 of 10 Who typically presents an offer to the sellers? What is the status of the contract between Sam and Mary? 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? The lender in case of the borrowers death, C. The lender against delinquent payments, D. The lender in case of the borrowers default. C. Deposit into the brokerage business account. 9- Define a purchase money mortgage. 4- Why is it important to talk to the sellers about the buyers? The term of the loan can be shortened. 1 of 12 California law requires that a licensee acting as a loan broker keep the Mortgage Loan Disclosure Statement on file for how long? How long does he have to file a complaint with the Department of Housing and Urban Development? What should Tom do? 4 of 10 Which is true of an exclusive-authorization-to-acquire-property agreement? A broker may advertise that he or she is an escrow agent. What are the buyer's costs on a $185,000 sale if the lender charges a 2% loan origination fee and 2 points? Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. 75- All but which of the following is NOT an AIDA feature? What California Fair Housing law has the manager violated? The couple now has. Post by; on fulgrim vs guilliman excerpt; clubhouse baseball iphone . 4- What is the agreement that a broker can enter into with a buyer? Bob Broker represents Sam Seller. D. Buyer indemnity and seller protection. 95- Who is liable for the withholding on the sale of a property owned by a foreigner? D. Do not show the home between 10 a.m. and noon on Sundays. The owner has 30 days to notify the county assessor. buyer randy makes an offer to purchase - fabricadecosas.com They sold the home for $450,000 and paid $30,000 in selling expenses, including the brokers commission. A. Which of the following would be considered an intermediate goal? Discourage Sam from accepting an offer so far below Sam's asking price. 11 of 11 Which of the following is a low loan-to-value ratio? A. 3- What signals do buyers use to indicate they may be willing to make a purchase? The offer that has the shortest closing date, Answer: B- The offer with the highest price that is the most likely to close. 49 of 50 Greg and Wanda Sandler purchased their home 35 years ago and it was paid off at the end of thirty years. A. 2- What is floor time and why is it important? 1- What is a competitive market analysis? ", Which of the following rules deals with specific actions regarding the requirements for handling earnest money deposits? 1- What is escrow? Local ordinance requires a 20-foot rear and front setback. 7- What are the capital gains exclusions associated with the sale of a personal residence? A. Mike has changed jobs six times in the past six months. 5 of 10 Mike bought his home last year for $150,000. B. A. 9 of 10 Which of these is not a helpful homeowner tip? "Let's make a low ball offer?" A. A. Eric can require that both the buyer and seller share equally in his commission. A. Greg is violating the duties he owes to his new buyer. Bob Broker knows that another offer will be coming in at about the same time. B. 7- What does the paragraph in the listing agreement titled Entire Contract deal with? 46 of 50 Greg grew up in and lives in a rural area.