Bill cannot contact the seller. What should Bob advise Sam? What will they have to pay at closing for the points? 2 of 10 How long must buyers and brokers keep the documentation on a foreign sale? 2 of 50 Residential property includes all of the following EXCEPT which? B. Q: Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. 6 of 10 Which of the following is not an item that a buyer usually pays at closing? buyer randy makes an offer to purchasei miss you text art copy and paste. 3- What is the difference between CLTA and ALTA policies? 8 of 12 Fannie Mae does all of the following activities except which? Gross income must be based on production. D. Meet with an inspector at a listing. A. 2- What is important to remember about multiple offers? 8- Why is it important to have a written prospecting plan? Buyer Norm called and rescinded the offer. California: Real Estate Practice Chapter 15 Quiz with no answers. 3 of 10 Homeowners can deduct all but which of the following from their income taxes? 5 of 10 RESPA applies to all of the following EXCEPT which? 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. D. Allows a broker to have as a commission anything above the minimum the seller sets. This term typically refers to. A. How does ALTA-R differ from ALTA? 10- Whats the difference between a lease purchase and a lease option? Executor Fred calls Agent Tom to list a vacant tract of land, instructing him to list the land for $700,000. What approach can Greg use to discourage the person from calling other agents? 5 of 10 Which of these is not a true statement? buyer randy makes an offer to purchase 73- Which of these is not a buying signal? A. C. Real Estate Settlement and Procedures Act. Rule E-1 The buyers family is pressuring them to purchase this home. D. Placing a classified ad in the weekend paper. 60- Seller Tom has an agreement with Broker Bill, Broker Jim and Broker Joe. Annualinspectioncosts$155,000Annualcostofscrapmaterials286,000Annualreworkcost34,679Annualcostofqualitytraining456,000Annualwarrantycost1,546,000Annualtestingcost543,000\begin{array}{lr} The listing agent must provide the disclosure to the seller prior to securing the listing agreement. C. Explain your marketing plan to the sellers. 1- When is an agency relationship created? 12,800 square feet B. 3- What is a good approach to use when contacting the owner of an expired listing? B. Its easier to prioritize your tasks if your goals are in writing. 3. chris kelly rock 92 net worth. Enter your offer. C. Is not necessary if the verbal presentation is strong. Checking your browser. A rental property has a return rate of 8%. A. B. 6- What is important for the sellers to know about a counteroffer? 7 of 10 When the broker and seller agree that the broker can receive commission for a specified number of days after the listing expires if selling to a named party on a list, its referred to by what term? 9 of 10 Which of these words or phrases might be considered discriminatory when used in advertising? 3- For whom do property tax exemptions exist and for how much? A. The fees that Eric charges Paul for making the loan could be any but which of the following amounts? 21- Which form of advertising is considered the most cost-effective method for selling a home? 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. C. Mortgage bankers are a large source of residential loans in California. 6- What items can an owner of an income-producing property deduct that an owner of a personal residence cannot? What does that mean? 16 juin 2022 why do babies clap their feet. buyer randy makes an offer to purchase buyer randy makes an offer to 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. What should Tim do next? C. Giving buyers your opinion of what works best for them. Alex Jones owns a duplex and lives in one unit. Answer: B- The contract is voidable due to mutual mistake. C. Write and sign commission checks to salespersons. buyer randy makes an offer to purchase $6,740 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? What would you say about Sallys behavior? He says to them, Would you prefer to take possession on September 1 or October 1? What kind of closing technique is Harry using? Which of these forms of advertising is she most likely to avoid? B. D. Whether or not the licensees attend staff meetings. Given the rise in the price of a plane ride, what percentage change in the price What percent of loss did you have? D. All adjustable rate mortgages have negative amortization. A. A broker may advertise that he or she is an escrow agent. C. Bake muffins or cinnamon rolls to create a homey feel. D. Purchasing loans from primary lenders. 1- What is an important thing to remember about listing agreements? A real estate investment business organized as a trust best describes a(n), Chapter 9 - Cellular Respiration and Fermenta, flash card for the first 25 math question, Operations Management: Sustainability and Supply Chain Management, Alexander Holmes, Barbara Illowsky, Susan Dean, Calculus for Business, Economics, Life Sciences and Social Sciences, Karl E. Byleen, Michael R. Ziegler, Michae Ziegler, Raymond A. Barnett, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. 43 Offer To Purchase Real Estate Templates (& Letters) 1- The amount that a seller takes away from a sale is termed: 2- Which of the following best describes prospecting? Understanding the kind of responses your advertising generates, D. Being able to anticipate the callers requirements. 17 of 50 Kathy is a personal assistant at Action Realty. 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. 3 of 10 Which paragraph of the purchase agreement states that if the buyer defaults after acceptance, he or she may be liable for the brokers commission? What do you need to remember about making phone calls to potential clients? Solved Randy and his real estate agent, Bob, enter into a - Chegg Covers more than one piece of property. 2- Describe an open listing. 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?" buyer randy makes an offer to purchase B. 7 of 10 Which of these is not a good thing to do when writing a counteroffer? 57- Under federal income tax law, the basis for a personal residence is which of the following: 7 of 10 Which kind of advertising aims at increasing sales by informing the public of a companys capabilities? Who is responsible for removing the lien to clear the title? Sunday afternoon, Mary is driving around and finds a property she likes better. Has Bob acted properly? Find a home that meets FHA requirements. Sam has insisted on pricing his home 10% higher than Bob's CMA recommended. 4 of 10 Which is true of an exclusive-authorization-to-acquire-property agreement? Explain the method used to write good advertising. Write a contingent counteroffer. Bill is purchasing a 6-family apartment building. Norm gave Pat a $500 earnest money check. A. how to type spanish accents on chromebook keyboard; one way process of communication; 47 brand franchise fitted hats; ncaa softball coaches' salaries 2019; albert pujols home run record; His property taxes would be assessed at: 6 of 10 When a person acquires new property, which is true? A. 3- What is the major difference between an exclusive-authorization-and-right-to-sell listing and an exclusive-agency listing? Tip: to find a certain word or key term, press at the same time, the buttons: California: Real Estate Practice Ch1 Quiz with no answers, Answers will be revealed with proper subscription. 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? Start in the room with the best features. Give the sellers a copy of some homeowners tips. 5 of 10 Which of these statements is not true about qualifying buyers? 1- What is important to know about unlicensed real estate assistants? California: Real Estate Practice Ch3 Quiz with no answers. Which one is illegal in many states? The seller must file a bill of sale with the county clerk. What kind of loan do they have? 36- Broker Eric secures a loan for buyer Paul. 6- What is the main reason sellers choose to sell their property without an agents help? 49 of 50 Greg and Wanda Sandler purchased their home 35 years ago and it was paid off at the end of thirty years. B. The definition of race was expanded to include ancestry. An open listing is an exclusive contract. buyer randy makes an offer to purchase buyer randy makes an offer to purchase. 2- What does Proposition 58 state? 8- Which section of the purchase agreement does not apply directly to the buyers and sellers? What kinds of insurance do brokers normally require of their employees? Jim should not use this flier as a: 94- Sellers agent Pam was unaware of the fact that the heating system of a home she had listed was defective. Randy gives Tom an earnest money check for $1,000 and asks Tom to hold it until June 30, regardless of the date the seller accepts the offer. C. Discover why some homes havent sold. 4. Ordinary china is very fragile. Be a deal maker. B. 10- What is the right to rescind and what is not covered by this rule? C. FSBO sellers who list with an agent will pay their own advertising costs. 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. Which would NOT result from the exercise of police power? Is critical to your success in real estate. 4- What are the major areas of newspaper leads? C. Moving closer to the agent to get a better look. C. Johns office has a selection of books, CDs and tapes for agent use. 9 of 50 Which of the following is a credit to the seller on the settlement statement? They sold the home for $450,000 and paid $30,000 in selling expenses, including the brokers commission. What is meant by the term sphere of influence? The gross annual income, $7,200, divided by 8% (0.08), is $90,000. C. Identifies buyers for other properties. A buyer applies for a loan that is neither insured nor guaranteed by a government agency. Attend weekly staff meetings at the office. D. Send the weekly report as usual, emphasizing what your upcoming plans are for the week. Answer: B- Licensee Fred should take the offer to the seller and determine if the escrow deposit is acceptable. Entails entering into two agreements simultaneously. Other than residential list three kinds of property in the real estate market. B. FSBO sellers believe they will save money if they sell themselves. 8- What is an important issue for potential buyer clients to understand? 11 of 11 Which of the following is a low loan-to-value ratio? How long does he have to file a complaint with the Department of Housing and Urban Development? Randy gives Tom an earnest money check for $1,000 and asks Tom to hold it until June 30, regardless of the date the seller accepts the offer. A. Gives the names of lawyers who might require property assistance. B. I will do two practice listing presentations per week with an experienced agent for the next two months. Allows quick repayment of the loan through accelerated payments. A. Which of these statements is true about the wraparound mortgage? 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. 12 of 50 The manager of a large hotel refuses to rent a room to a blind person with a guide dog. Answer: B- Encourage the buyer to get the attorney to review it quickly. They will owe a balloon payment at the end of the loan term. 2- What is important to remember about multiple offers? Documents showing your affiliations with real estate organizations. C. Gather listing forms for her employer. Deposit the check into his trust fund account on the next business day. 85- Which paragraph of the purchase agreement states that the balance of the purchase price will be deposited into escrow prior to closing? 6 of 10 Which booklet is not part of the Combined Hazards Book? The borrowers family in case of his or her death, B. 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. 4 of 10 Which of these is not an important aspect of selling? 3- What are the three general responsibilities of a property manager? California Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. What is the result? The Haleys want to get a mortgage that will cover the purchase price plus all the furnishings. What should agent Phil do? 9- What required disclosure is a result of Megans Law? 19 of 50 When doing a competitive market analysis, the recently sold properties you include should have sold within what timeframe? Deposit the check into his trust fund account on the next business day. The HUD-1 Uniform Settlement Statement, required by RESPA, must be used in what instance? Return the earnest money to buyer Norm. C. Tell the sellers you expect an offer to be coming soon. Next, calculate the points charged; $168,500 x 0.02 = $3,370. Which of the following items can Matt not add to the original cost when doing the computation? 3- When preparing a competitive market analysis, what categories of homes should an agent research? The following table lists all costs of quality incurred by Sam's Surf Shop last year. buyer randy makes an offer to purchase - nubblesitesolutions.com D. The UCC is a body of law that standardizes a number of business practices. Why or why not? A. California: Real Estate Practice Ch10 Quiz with no answers. Pellentesque dapibus efficitur laoreet. 27- Mr. and Mrs. Haley are purchasing beachfront property in an upscale development. buyer randy makes an offer to purchase. B. Jim has decided to specialize in what area of real estate? C. Knocking on doors never requires special permits. She thinks they are really interested in one particular property, but when she approaches them about it, the buyer says, The price is too high. What would be a good response to that comment? A. Sets a limit on the commission a broker can earn. Listen carefully to everything your prospects say and repeat some specifics back at appropriate times so that they know you have heard what they said. Name and define the two forms of advertising. 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 8 of 10 When is the first installment of property taxes due? 5. California: Real Estate Practice Ch11 Quiz with no answers. "No, you may lose the house." 11 of 50 Jake and Janet are required to pay 4 points on the $80,000 loan they are getting. On what amount will he pay capital gains tax? 8 of 10 Which of the following is a good direct mail technique? Department of Housing and Urban Development, C. Recorders Office in the county where the land is located. Lorem ipsum dolor sit amet, consecteticitur laoreet. 9 of 10 All of these might be a buying signal except which? D. Collecting information and pre-qualifying buyers yourself is the easiest and best approach. Answer: D- Return the money to buyer Norm. A. 44- Jim owns a gift shop in a commercial building. C. Tangible assets transferred in the sale include inventory, fixtures and equipment. 4 of 10 Which of the following is NOT a condition of the safe harbor test? Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. What should Bob do? 3- Differentiate between mortgage brokers and mortgage bankers. She put 20% down and got a mortgage for the remainder. 1. \text { Annual cost of quality training } & 456,000 \\ You can make a Best Offer on listings that have a Make Offer button. 4. 12- What does TRID require of lenders? Tell Mike that the sellers will be upset if they cancel the appointment. Harry has some buyers that he believes are ready to make an offer. 1- How much is the loan origination fee and what does it cover? B. 45- Kirk wants to get an FHA loan. 2 of 10 Which lender typically deals in interim financing? D. After the agent has had time to make copies at the office. What does the net operating income of a property represent? 5 of 10 Which of the following would not be a reason to choose to be an assistant? Sexta, 26 de novembro de 2021 . When a home seller accepts a purchase offer, the seller is hoping the buyer will complete the transaction at the agreed-on price and believes there is nothing wrong with the condition of the home. C. Insurance agents dealing with customers.