buyer randy makes an offer to purchase - ftp.ivnowandzen.com 6- What is the Real Estate Transfer Disclosure Statement and who is responsible for providing it? Wait until next week to send an activity report, hoping things will pick up. 10- What is the right to rescind and what is not covered by this rule? 6- What is the ultimate result of using the Closing Disclosure form? D. Property evaluations from other agents have valuable information for sellers. 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. 37 of 50 Which of the following economic characteristics is true? List the details of all parties involved. 4- Amanda calls broker Tim to schedule a showing of one of his listings. Establish a homes fair market value. 4 of 10 Which of these is not an important aspect of selling? C. Clearly written contractor agreement must exist. 2- What are some tax benefits associated with investing? B. Answer: C- Try to get Sam to accept the offer. The offer with the highest price that is the most likely to close Which of these statements is true about the wraparound mortgage? C. Deposit into the brokerage business account. 2- What exception exists to the duty of obedience when working with a client? "Yes, let's offer $10,000 less than the asking price. 9- What is the basic purpose of Truth in Lending Regulation Z? If checked, the seller can complete repairs after closing. \text { Annual warranty cost } & 1,546,000 \\ Make no recommendations and let the sellers decide on their own. Use the yes-but technique to handle the objection. D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. castilian drive, los angeles. D. The loan must be repaid before the borrowers death. 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. 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. 9- What is the basic purpose of Truth in Lending Regulation Z? A. I will make two new contacts every day this week. 5. 6- How does a limited partnership differ from a general partnership? The purchase price, plus depreciation, B. 5- When must a licensee provide an agency disclosure to a prospective client? What kind of mortgage might they get? California: Real Estate Practice Chapter 15 Quiz with no answers. Give housing choices to the widest range of people. What will they have to pay at closing for the points? In the past year they have referred two dozen people who have purchased flooring from New Age. 10 of 10 Most sellers object to offers based on: 1- When preparing to present an offer to the sellers, what kinds of supporting information can be helpful? Sending cards and newsletters is a good way to keep in contact with clients and prospects. 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? 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. 2- Describe an open listing. 2 of 10 Which of the following is not a fiduciary duty an agent owes to his or her principal? A. Bob cannot do anything; it is out of his hands. They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. Has New Age violated any laws? 6- What is the main reason sellers choose to sell their property without an agents help? Which of these ad headlines would probably be the least effective for this home? A. How should licensee Fred handle this offer? Launch into your list of the homes special features and hope she changes her mind. B. Newsletters can be a very effective advertising forum for niche marketers. 1- When is real property reassessed? Rule 21 A. Kirk doesnt have the right to withdraw the offer so soon. 103- Kirk and Sandy obtained a wraparound mortgage. Hikayemiz; Misyon & Vizyon; Kalite Politikamz; Sertifikalarmz; ISPM-15 aretleme zin Duyuru; Sosyal Sorumluluk; Hizmetlerimiz C. Real Estate Settlement and Procedures Act. Rule F-21 B. B. 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. A broker may advertise that he or she is an escrow agent. The buyer must pay the broker a commission. Bob receives an offer from a buyer that is 12% below Sam's asking price. \text { Annual rework cost } & 34,679 \\ 4- What do Fannie Mae and Ginnie Mae do that Freddie Mac does not? A. Now, calculate how much you lost: $153,890 - $139,900 = $13,990. 61- Bill and Sue secured a mortgage loan that is tied to an index which fluctuates over the life of the loan. D. Chris is a buyer's agent. wigan warriors west stand chef buddy microwave egg cooker instructions; telemundo la casa de los famosos en vivo 5 of 10 RESPA applies to all of the following EXCEPT which? From whom may a salesperson receive compensation for performed activities? B. 4 of 10 Which of the following would be the least desirable phone handling technique? California: Real Estate Practice Ch5 Quiz with no answers. 3 of 10 What kind of ad usually combines both institutional and product advertising? If you like, you can add a message to the seller. Private mortgage insurance is available for FHA loans. You can use a reverse telephone directory to get the names of residents. 1 of 50 Which of the following newspaper information is not helpful in developing a Prospecting Plan? C. The court has ordered the transfer of Sally Greens home to her friend Penny Jacobs as part of the settlement of Sallys estate. Which of the following statements is true? Mary makes an offer to purchase a duplex from Sam. A. C. Salespersons must perform all of their activities on behalf of their employing broker. 5- If lenders intend to sell mortgages in the secondary market, what must they do? 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? A. Ken is responsible for his own taxes, while the broker pays Sarahs. What would we call Hannah? 8- What is the major difference between a CalVet loan and other loans? Referral fee to a homeowners insurance agent. 36- Broker Eric secures a loan for buyer Paul. 6- Whats important to know about the Liquidated Damages paragraph? 6 of 10 In the listing agreement, a seller can choose to decline/disapprove all but which of the following items? A broker might need to change the layout of the office to make the aisles wider for clients in wheelchairs. Gives the names of lawyers who might require property assistance. 7 of 10 Which of the following is not a national real estate trade organization? Allows quick repayment of the loan through accelerated payments. 9 of 10 An agent must give a copy of the listing agreement to the sellers: A. It can be considered an employment contract. D. Amanda smiles at Jim when she sees the whirlpool tub. What was Sam's appraisal cost for quality last year? 50 of 50 Eric is acting as a disclosed dual agent in a transaction. Two weeks before the close of seller Jan's property, buyer Sam makes an offer. California: Real Estate Practice Chapter 17 Quiz with no answers. 7- Agent Jim needs to do a visual inspection of his listing. California: Real Estate Practice Ch11 Quiz with no answers. What would you say about Alexs actions? B. Find a home that meets FHA requirements. A. Jake is getting a VA loan with no down payment. Now you have the numbers to plug into the loss formula; Percent of Loss = Loss / Cost or $13,990 / $153,890 = 0.0909. 8- What actions does a lender take to sell a mortgage in the secondary market? 6- What is important for the sellers to know about a counteroffer? This mortgage type is popular among the elderly. 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. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. C. FSBO sellers who list with an agent will pay their own advertising costs. 4 of 11 Which of these is also called a contract for deed? A borrower cannot qualify for a conventional loan unless he or she can make a 20% down payment. This type of action might be viewed as: Buyer Frank has just signed a sales contract for a 2 million dollar property. A. C. The lender gives the borrower a mortgage and funds. A. B. C. Discover why some homes havent sold. C. Print postage labels from your computer. 13 of 50 What is the most common reason that owners try to sell their homes themselves? What does the net operating income of a property represent? B. A. 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. 6 of 50 Broker Tami has a very low advertising budget. 47 of 50 Which of the following would not qualify as a 1031 exchange? A. 90- Marsha has been keeping track of the effectiveness of her advertising campaigns. Bob Broker brings Sam Seller an offer with a higher price than the existing contract Sam has with another buyer. 5- When must a licensee provide an agency disclosure to a prospective client? D. Hold both offers because he heard that a full-price offer is on its way. The offer with the highest price university of missouri hospital salaries 2021; port orange arrests today. Five current listings three recently sold and two expired, C. A minimum of three properties in the recently sold category. How much did Sam gain or lose on the sale? B. Pam is not liable since it was summer and the heating problem was not obvious. In fact, the meter's location is dictated by the town building codes; what could happen to Rob? A. Point out that the roof is not leaking despite its age. If Broker Tom procures a buyer for Jack, Tom will get the commission and Alice will not. Why is it important for licensees to understand the Americans with Disabilities Act? The price elasticity of demand for 2 of 10 How long must buyers and brokers keep the documentation on a foreign sale? A. A. Pam should tell them to reject the offer so that the buyers will counter back with full price. The Haleys want to get a mortgage that will cover the purchase price plus all the furnishings. cross elasticity of demand for train rides with respect to the price of a plane ride Availability of multiple listing service, C. Broker-paid advertising and promotion, D. Assistance with filling out disclosures. Rule E-1 What economic factors affect the real estate market as well as other goods and services? B. B. The price of a plane ride rises by 10 percent. D. The date Abby makes the request to receive the booklet. plane rides is 0.5 and the price elasticity of demand for train rides is 0.2. Broker John puts $500 into his trust account. A. The advertiser can be sentenced to up to a year in prison. Harry has some buyers that he believes are ready to make an offer. Once you've found an item you want to buy that accepts Best Offers, here's how to make your offer: Choose Make Offer. Course Hero is not sponsored or endorsed by any college or university. 3- For whom do property tax exemptions exist and for how much? 27 of 50 Tim and Sue have obtained a buydown loan on their newly built home. 20 of 50 Seller Patsy wants to net $150,000 from the sale of her home. Finally, add the origination fee and points together to calculate the buyer's total cost; $3,370 + $3,370 = $6,740. Ask questions of the prospects children. C. The borrower pays a fixed rate of interest. D. In most situations, an assistant should not have the responsibility of in-person contact with clients. B. A. C. Be sure all requested inspections have been ordered. D. Buyer indemnity and seller protection. Practice exam for California Real Estate Practice Class, Answers will be revealed with the correct subscription. 8- Why is it important to have a written prospecting plan? C. The definition of handicap was expanded to include use of guide or support animals for deaf and blind individuals. To insure loans made by approved lenders, D. To sell loans to other secondary mortgage marketers. C. Consider child support payments in the decision. B. 10 of 10 When a tenant agrees to pay all taxes, insurance, maintenance and repairs, that tenant has what kind of lease? What is the key feature of this type of loan? To purchase conventional, FHA and VA loans, D. To insure conventional, FHA and VA loans. Bob Broker represents Sam Seller. 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. 5. The buyer was responsible for making the discovery, so Pam is therefore liable. A. A. C. If the selling agent does not deal directly with the seller, the selling agent is not required to provide the disclosure. An apartment building for a vacant lot, B. 4- Why is coordinating escrow so important and how can an assistant help? The lender gives a mortgage to the borrower and gets funds in exchange. 26 of 50 Veteran Bill has applied and been approved for a non-VA-guaranteed CalVet loan. B. Mary makes an offer to purchase a duplex from Sam. Person must be properly licensed. Example 1. 1. 4- What is the agreement that a broker can enter into with a buyer? They were counting on a full-price offer and are very disappointed. A. California: Real Estate Practice Ch3 Quiz with no answers. What kinds of insurance do brokers normally require of their employees? C. Real estate can respond quickly to changes in the market. It helps to identify buyer and seller needs. A. A. A. A. Hometown received $2400.00 in referrals. From the 100' frontage, subtract the 10' per side setback (100' - 20' = 80'). 6- List the steps of underwriting. D. All repairs must be in compliance with existing building codes. Find things in the home a seller needs to repair. Department of Housing and Urban Development, C. Recorders Office in the county where the land is located. A. 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 of the following statements is not true? What kind of listing agreement does Alice have with Jack? 9 of 10 All of these might be a buying signal except which? The definition of race was expanded to include ancestry. 3 of 10 When must a listing agent present the Disclosure Regarding Real Estate Agency Relationships to the seller? How would Grants lease at this time be classified? C. Prepare additional documentation to take to the presentation. C. The buyers are interested in another property. C. The date the lender receives her application. D. Is permissible in amounts under $50. 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. A. 3- What signals do buyers use to indicate they may be willing to make a purchase? they are effectively terminating the original offer. 10 of 10 A competitive market analysis is an attempt to: A. D. Exert pressure on the sellers to include something the other party wants. 64- Which of the following is not a form of personal advertising? D. The property is in a state fire responsibility area. A. 3- What is a good approach to use when contacting the owner of an expired listing? 85- Which paragraph of the purchase agreement states that the balance of the purchase price will be deposited into escrow prior to closing? 6- What does the security and insurance clause of the listing agreement address? Which of the following items can Matt not add to the original cost when doing the computation? If the terms offered by the Buyer are acceptable to the Seller, the Seller signs the Offer Form to begin the sale. A. A. 5 of 10 The principles of an agency relationship include all of these factors except which one? 10 of 10 Assistants who are hired to work part time: C. Usually get a percentage of the commission in addition to a salary. 4- Why is coordinating escrow so important and how can an assistant help? 7 of 10 Which statement is not true about opening escrows? 3- What is the difference between CLTA and ALTA policies? Which of these actions might have caused their upset? 7 of 50 Glenna and Amanda just bought their first home. 2- What is important to remember about multiple offers? 6 of 10 Which of the following is not an item that a buyer usually pays at closing? Possession date. A. 9 of 10 Janet is an unlicensed assistant. Hes very comfortable selling that type of property and knows he can work well with clients in that area. 6 of 10 Which of these is not a tool to help evaluate advertising effectiveness? In which stage of the General Adaptation Syndrome *(GAS) are bodily resources drained and stress hormones depleted? Before completing the form, discuss the following important points with the home seller: Price. 4. Refusing to make loans based on the racial composition of a neighborhood is called. The interest rate will increase gradually over time. D. Tell the sellers its time to reevaluate the price. One day later. When should the agent have disclosed this fact? Sexta, 26 de novembro de 2021 . 5- Why is it important for the buyers to indicate whether or not they intend to occupy the property? C. Explain your marketing plan to the sellers. Where is it that he likely found out the property was for sale? 8- When considering making a loan to a borrower, which of the following factors would probably exert the least amount of influence on the lender? 1 of 10 Which item is not covered by CLTA, ALTA or ALTA-R insurance policies? 9 of 10 How can a seller lessen the tax impact of selling a home for enough profit that he or she will be boosted to a much higher tax bracket? How to Write a Purchase Agreement? A. An agent should print off a copy of the listing on the companys Internet site to send to the sellers. What property type will he be dealing with? 9 of 11 Lenders can charge all of the following except which fee when a borrower gets a loan? Installation of central air conditioning, D. Addition of a tenant laundry facility. 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? B. Each of their payments is for the same amount. Smoke Detector Statement of Compliance, D. Sellers Affidavit of Nonforeign Status and/or California Withholding Exemption. 2- What is floor time and why is it important? Nam risus ante, dapibus a molestie consequat, ultrices ac magna. What should Tom do? A. 4 of 10 Once an offer has been accepted, the agent should do all of the following except which? How to make a Best Offer. A counteroffer represents a rejection of an offer. Instead, Bob terminates the relationship with Mary. What is Gregs capital gain on the apartment? C. A borrower can request the cancellation of PMI payments when the equity reaches 20% of the appraised value. 7 of 10 How might probate information help in prospecting? Sam plans to overnight the acceptance on Monday. 102- What is the minimum period of time over which the owner of a commercial building can depreciate the improvements? Display lots of family photos to impress potential buyers. B. Buyers make an offer to purchase property and to place $1000.00 earnest money into their broker's trust account. A. For income tax purposes, the IRS would probably classify Patrick as: 32- Broker Alice has a listing agreement with Jack. B. C. An offer or counteroffer can be withdrawn at any time before it has been accepted. 4- How is property management seen as a risk to investing? B. A. 40 of 50 Which of the following Internet pages might not be of particular interest to buyers? C. If Larry verbally accepted the offer, Kirk is bound by it. buyer randy makes an offer to purchase buyer randy makes an offer to purchase. During this interim period, grant makes monthly rent payments and the owner accepts them. 83- Matt is computing the adjusted cost basis of his apartment building for income tax purposes. She doesnt need a license to perform many activities at the firm, but which of the following would require her to have a license? 70- Which of these items would be a credit to the buyer on the settlement statement? 5 of 10 Which of these statements is not true about qualifying buyers? Broker Ashley has been working for a seller for the past seven months. buyer randy makes an offer to purchase - fridarestaurant.com In the meantime, Bill gets another offer on the property from another buyer at a higher price. B. I will do two practice listing presentations per week with an experienced agent for the next two months. However, he is objecting because the roof is 12 years old. B. 1- When preparing to present an offer to the sellers, what kinds of supporting information can be helpful?
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