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They will have to make a very high down payment. 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. C. The court has ordered the transfer of Sally Greens home to her friend Penny Jacobs as part of the settlement of Sallys estate. 5. "Let's make a low ball offer?" There are several steps in calculating the answer to this question. A. B. C. The Bryants have not received any feedback from any showings in the past month. 3. Two months later she purchased and moved into a new home that cost $145,000. B. Lorem ipsum dolor sit amet, consectetur adipiscing elit. What should Bob advise Sam? The sales agent should: Write a counteroffer stipulating the sellers' request. A. C. It keeps your name in front of potential buyers and sellers. 5- How do life insurance companies get involved in the investment market? buyer randy makes an offer to purchase. There are several successful agents at Johns office. Later that day, Kirk finds a home he likes better; so he withdraws his offer to Larry. Finally, add the origination fee and points together to calculate the buyer's total cost; $3,370 + $3,370 = $6,740. Which of these actions might have caused their upset? Explain. 9. Studying population trends in the area. C. Exclusive-authorization-and-right-to-sell. 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. He has put up $50,000 in preferred stock as earnest money. Rule F-1. 33- Which statement is true about a loan that has a negative amortization? C. Consider child support payments in the decision. B. Only after receiving the tenants consent. If checked, the seller can complete repairs after closing. A. 14 of 50 The title report on a property shows there is a lien on the property. fairbanks ice dogs standings . D. If the buyer rejects the first counteroffer, the seller can accept the first offer. Tommy Gee encounters an owner of a property who has no equity in the home because of a sharp decline in market values. 7 of 10 Which document shows the assets and liabilities of a business? A. The second mortgage has now become the primary loan. When Bill pulls in front of the home, Linda decides immediately that she doesnt want to see the inside. A. Which of the following statements is not true? 80- Which of the following is an example of commingling? A buyer has obtained a mortgage in which the LTV is 95% of the first $40,000 of the sale price and 90% of the remainder of the sale price. They made $50,000 of improvements. D. Seeking buyers for others agents listings. 16- Dave and Nadine have decided that they want to become property investors. 64- Which of the following is not a form of personal advertising? Facebook Instagram. 1 of 10 Broker Alice has hired several independent contractors in her firm. 3- When handling a telephone inquiry, why should you limit the amount of information you give out about the property? 103- Kirk and Sandy obtained a wraparound mortgage. It became a contingent contract when Sam accepted Mary's offer. C. A broker is not responsible for the acts of independent contractors. 7- What does the net operating income of a property represent? 3 of 10 Which of the following statements is NOT true regarding a broker acting as an escrow agent? Now you have the numbers to plug into the loss formula; Percent of Loss = Loss / Cost or $13,990 / $153,890 = 0.0909. Discourage Sam from accepting an offer so far below Sam's asking price. D. Convince a seller to list with you. B. A secondary bid for a property that is less than the first offer 7- Name three benefits of listing a home with an agent that you could share with sellers. 4- What is the agreement that a broker can enter into with a buyer? A rental property has a return rate of 8%. A secondary bid for a property that is for more than the first offer One offer is for $208,000; the other is for $200,000. 3- Differentiate between mortgage brokers and mortgage bankers. of a train ride will leave the quantity demanded of train rides unchanged. Wait until next week to send an activity report, hoping things will pick up. C. Giving buyers your opinion of what works best for them. D. After the agent has had time to make copies at the office. The buyer was responsible for making the discovery, so Pam is therefore liable. 100- What does the Real Estate Disclosure Law refer to? This is not true of which duty? A. Mortgage brokers do not lend money. 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. Tell the buyer about the other offer and urge the buyer to skip the attorney. 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? D. All repairs must be in compliance with existing building codes. What would we call Hannah? B. Jim Sharp is purchasing his fathers home. A. 43 of 50 Which one of these statements would not be considered a measurable goal? 100 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. Present the $200,000 first and recommend rejection. C. There is a 6-month pre-payment penalty for paying off the loan early. The monthly net rental is $600. 80 feet of frontage x 160 feet of depth = 12,800 square feet allowed by local ordinance. Refusing to make loans based on the racial composition of a neighborhood is called. California Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. 9- What is the basic purpose of Truth in Lending Regulation Z? 10 of 10 Agent Jim tells his buyers that the seller will leave the riding lawn mower if the buyers make an offer now. If something truly is a deal breaker and a line in the sand for you, that is fine, but stick to it. 7- Agent Jim needs to do a visual inspection of his listing. 8 of 10 Which disclosure is required by the Real Estate Settlement Procedures Act? 15 of 50 Agent Will has had a listing with the Bryants for 6 weeks. Which statement is true? C. If the selling agent does not deal directly with the seller, the selling agent is not required to provide the disclosure. 9 of 10 A person who believes he or she has been discriminated against has how long from the time of the alleged violation to file a suit in a state or federal court? Buyers make an offer to purchase property and to place $1000.00 earnest money into their broker's trust account. 61- Bill and Sue secured a mortgage loan that is tied to an index which fluctuates over the life of the loan. 4 of 10 Once an offer has been accepted, the agent should do all of the following except which? D. The owner has 45 days to file a change in ownership statement. 5 of 10 All of the following are valid listing agreements. B. 1 of 10 The Lead-Based Paint Disclosure is required for homes built: 2 of 10 Which of these documents is for sellers only and not for buyers? D. This action is deliberate misrepresentation. 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. 1 of 10 Gail is a licensed real estate assistant. A. What disclosure does the salesperson owe to the buyer and seller? Elaine parks across the street from the home and Mike is disappointed by what he sees. 10. The couple now has. If a person feels like he or she has been discriminated against, how long does that person have to file a complaint? What are members of NAR required to do? 12- What are grant programs typically used for? 8 of 10 Which statement is true about a real estate assistant? Housing and Community Development Act. 1- How much is the loan origination fee and what does it cover? 4- Whats a bonus closing and whats important to keep in mind about this technique? A. 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. 3- What is the difference between CLTA and ALTA policies? A. 1 of 10 All of the following are good newspaper sections to read for prospecting except which? 69,200 C. Emphasize that this home is a great buy and it would be a shame for them to dismiss it without looking first. sam neill laura tingle split B. A. How to Write a Purchase Agreement? The escrow holder will need information about the brokers commission. Skip the activity report for that week. 29 of 50 What is one way the Federal Reserve System regulates the money supply? 30- Being prepared to handle incoming phone calls means all of the following except which? Establish a homes fair market value. 4- Agent Greg receives a call about one of his firms ads. Checking your browser. buyer randy makes an offer to purchasei miss you text art copy and paste. plane rides is 0.5 and the price elasticity of demand for train rides is 0.2. 2- List the three Institute of Real Estate Management property management designations. B. 5- When must a licensee provide an agency disclosure to a prospective client? 50- Harry has some buyers that he believes are ready to make an offer. California: Real Estate Practice Ch5 Quiz with no answers. 4- What is a good method for estimating what a seller will net from the sale of the property? She tells them they would not be comfortable in this home and she shows them a list of homes in other neighborhoods she thinks would be more appropriate. 23- Jonestown Community Bank refuses to lend money to potential homeowners trying to purchase property in the predominantly Asian neighborhood on the west end of town. C. Salespersons must perform all of their activities on behalf of their employing broker. Annualinspectioncosts$155,000Annualcostofscrapmaterials286,000Annualreworkcost34,679Annualcostofqualitytraining456,000Annualwarrantycost1,546,000Annualtestingcost543,000\begin{array}{lr} B. It can be considered an employment contract. Which statement is true? buyer randy makes an offer to purchase 10 of 10 All of the following are true statements about goals except which one? A. C. An apartment manager might be required to allow a tenant with a disability to widen a doorway. 7- What makes up a mortgage? A. Tell the buyer to submit the offer first and then take a copy to the attorney to review. Sharon and Steve have just taken a second mortgage on their home. 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? A. What kinds of things should he be looking for? You bought if for the listing price plus 10% and sold it for the listing price. Ashley should end this relationship by, : asking the seller to sign a mutual release. Salesperson Sally tells her senior citizen buyers that the home they want to view is located in a neighborhood with several small children and loud teenagers. 6- What is the Real Estate Transfer Disclosure Statement and who is responsible for providing it? Not waste anymore time on this house, the buyer will never make an offer. 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. Return the earnest money to buyer Norm. 5 of 10 Which of these statements is not true about qualifying buyers? How are properties affected by the local economy? 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.