2. 5. A. 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? A counteroffer by a seller to a buyer turns the seller from offeree to offeror. He paid $100,000 for it, and made $300,000 worth of improvements. 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? Follow the below steps to write a solid purchase agreement: Step 1 - Buyer and Seller Details. A. How much do you have in your savings account? 42- Alice is planning her career and setting her goals. C. Knocking on doors never requires special permits. What should Bob do? C. Do you need the equity from your current home for the new home purchase? 6 of 10 Which of the following statements is not true? Documents showing your affiliations with real estate organizations. D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. 10 of 10 Assistants who are hired to work part time: C. Usually get a percentage of the commission in addition to a salary. 40 of 50 Which of the following Internet pages might not be of particular interest to buyers? 2 of 10 Which is not a true statement about the Americans with Disabilities Act? C. Exclusive-authorization-and-right-to-sell. 4 of 10 Timeshare buyers have the right to rescind a transaction within what timeframe after signing the purchase contract? Their first mortgage will get paid off immediately. 10 of 10 A competitive market analysis is an attempt to: A. 3 of 10 The IREM designation reserved for individuals who meet a certain level of education and experience is: 4 of 10 When setting up a rent schedule, a property manager should analyze all but which of the following? The loan will be distributed to them gradually. 7 of 11 In which of the following types of loans is the payment allocated only to interest? The offer with the highest price The original loan becomes subordinate to the wraparound. What should Tom do? The buyer must pay the broker a commission. mejores programas bases de datos. 6 of 10 A broker induces an owner to sell by telling him that Hispanics are moving into the neighborhood. Please remove your shoes before entering the home. 2 of 10 Which lender typically deals in interim financing? They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. California: Real Estate Practice Ch12 Quiz with no answers. 6- What items can an owner of an income-producing property deduct that an owner of a personal residence cannot? California: Real Estate Practice Ch4 Quiz with no answers, answers will be revealed with proper subscription. Hometown Real Estate, receives $100.00 each time they refer a customer to New Age flooring. The home has been listed for several months; so Pam does a CMA and determines that the offer is more than reasonable in todays market. 4- Describe how a property manager can receive his or her fees. Example ______ 1. east of the mississippiriver\underline{\text{mississippi river}}mississippiriver. C. Deposit into the brokerage business account. B. Pam is not liable since it was summer and the heating problem was not obvious. 1- How much is the loan origination fee and what does it cover? B. 8. The adjusted cost basis of the first home was $140,000. C. Classified ads placed on the property, D. Number of hits on the company website. First, determine what you originally paid for the house: $139,900 x 1.10 (100% + 10% = 110% or 1.10) = $153,890. 5 of 50 Jane has been working with some buyers for several weeks. Which of these expenses is not associated with owning a home? 2 of 10 Offering a buyer more than one option and having him or her choose is using what kind of closing technique? The sales agent should: Write a counteroffer stipulating the sellers' request At time of license renewal, what is the renewal charge for a salespersons license? 80 feet of frontage x 160 feet of depth = 12,800 square feet allowed by local ordinance. C. Broker Harry deposits $1000 into his brokerage business account. D. An exclusive listing must always be at least 30 days long. 2- What exception exists to the duty of obedience when working with a client? chris kelly rock 92 net worth. B. 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? What kind of closing technique is Jim using? Checking your browser. 69,200 What should Tom do? 88- Sally and Dan must pay 2 points on their new $65,000 loan. 80- Which of the following is an example of commingling? What kind of a mortgage do they have? 11 of 11 Which of the following is a low loan-to-value ratio? D. Supply cannot be moved to a high demand area. 2- When establishing rapport, whats one of the best ways to get to know your buyers? 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. Smoke Detector Statement of Compliance, D. Sellers Affidavit of Nonforeign Status and/or California Withholding Exemption. In order to supplement their fixed income, the Sandlers receive monthly checks from their bank. 3- What is the difference between CLTA and ALTA policies? escrow money must be passed back to the buyer. Answer: D- They are effectively terminating the original offer. D. Gross income must be based on hours worked. Loan terms are from 15 to 25 years. 11- Broker Jill has an agreement with seller Alice that says Jill will receive compensation if anyone except Alice sells Alices home, what kind of agreement is this? Giving information about a listing to prospective buyers. Their interest rate will rise after the first few years. Which statement is true? From the 200' depth, subtract the 20' rear and front setback (200' - 40' = 160'). B. What should Elaine do? 6- Whats important to know about the Liquidated Damages paragraph? Ask the caller if he or she would like to receive e-mails on newly listed properties. How long does he have to file a complaint with the Department of Housing and Urban Development? 23 of 50 Which of the following statements best describes what happens in a mortgage loan transaction? Encourage the buyer to get the attorney to review it quickly. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. From the 100' frontage, subtract the 10' per side setback (100' - 20' = 80'). What would be a good approach for Pam to take? 7- What does the paragraph in the listing agreement titled Entire Contract deal with? A week later, the salesperson takes a new listing and prepares an offer for her seller from her brother/client. Which area of specialization would she fall into? "Let's make a low ball offer?" 10 of 10 Which of the following is not a possible benefit of investing in real property? 5- What is the Closing Disclosure? 83- Matt is computing the adjusted cost basis of his apartment building for income tax purposes. 6- What is important for the sellers to know about a counteroffer? B. They were counting on a full-price offer and are very disappointed. If a person feels like he or she has been discriminated against, how long does that person have to file a complaint? Senior housing for residents 62 or older, B. You can make a Best Offer on listings that have a Make Offer button. B. This form is the first step in any real estate deal. 2- Who needs title insurance and why? Next, determine the amount to apply toward the loan origination fee and discount points; $185,000 - $2,000 - $14,500 = $168,500. 75- All but which of the following is NOT an AIDA feature? Sharon and Steve have just taken a second mortgage on their home. B. 4 of 11 Which of these is also called a contract for deed? Retain the check for use with a future sales contract offer. D. Administers special assistance programs. If the loan value is 80%, and the property was appraised at $86,500 and sold for $88,000, how much would the purchaser be permitted to borrow? 2- What exception exists to the duty of obedience when working with a client? 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? 67- Hannah is a real estate assistant. 8- Which section of the purchase agreement does not apply directly to the buyers and sellers? Studying population trends in the area. 4- What do Fannie Mae and Ginnie Mae do that Freddie Mac does not? B. 34 of 50 At a community meeting, Broker Amanda tells a group of families in an established neighborhood that several Indian families are planning to buy homes in their neighborhood. residential transactions financed by federally related mortgage loans. 5 of 10 What would be the least effective way to get to know your buyers needs? Certain homeowners may qualify for a $10,000 exemption. However, he is objecting because the roof is 12 years old. 5 of 10 The principles of an agency relationship include all of these factors except which one? Buys conventional, FHA and VA loans. B. Better yet, try to avoid deal breakers. Pellentesque dapibus efficitur laoreet. 70- Which of these items would be a credit to the buyer on the settlement statement? During a phone call, a salesperson discusses showing a property to a prospect. 1- What is an important thing to remember about listing agreements? A. He asks his real estate agent if she could tell him how to go about building a house on the land. Last year, about 25% of his income came from sales commissions. 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. 4 of 10 Which of the following is NOT a condition of the safe harbor test? 11. A duplex owner might need to remodel the kitchen in the rental unit to accommodate persons with disabilities. B. A Bill of Sale gives title to the business equipment. Nam risus ante, dapibus a molestie consequat, ultrices ac magn, View answer & additonal benefits from the subscription, Explore recently answered questions from the same subject. 3- For whom do property tax exemptions exist and for how much? Facebook Instagram. What will the new owners pay in property taxes? 43 of 50 Which one of these statements would not be considered a measurable goal? wigan warriors west stand chef buddy microwave egg cooker instructions; telemundo la casa de los famosos en vivo C. A seller can sell his or own home and owe home and owe no commission if he or she signs an exclusive agency listing. The buyers family is pressuring them to purchase this home. B. C. The seller can do all repairs himself. Point out that the roof is not leaking despite its age. 4 of 50 Seller Kim tells her agent Greg that she would be willing to accept $185,000 on her $205,000 listed home. 07 Jun. Gross income must be based on production. B. 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. In which stage of the General Adaptation Syndrome *(GAS) are bodily resources drained and stress hormones depleted? 4- Agent Greg receives a call about one of his firms ads. 1- The amount that a seller takes away from a sale is termed: A) Net sale price B) Seller's proceeds C) Gross sales price D) Profit margin 2- Which of the following best describes prospecting? The offer with the highest price that is the most likely to close B. 10 of 10 Which of these is not an exemption to fair housing law? B. 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. What should you keep in mind when developing your marketing plans? What should Tim do next? 4- What are the major areas of newspaper leads? Buyer Jim asks if he can visit the property for a second time. 1- When is an agency relationship created? A. 4- Amanda calls broker Tim to schedule a showing of one of his listings. 64- Which of the following is not a form of personal advertising? buyer randy makes an offer to purchasei miss you text art copy and paste. A. 4. 4- What items are not covered by any title insurance policy? 4- Whats a bonus closing and whats important to keep in mind about this technique? What do many firms do to avoid confusion with their advertising plan? \text { Annual rework cost } & 34,679 \\ Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. A. 31 of 50 Which of the following AIDA characteristics is the most critical in the ad? A. Salesperson Harry can solicit his own listings. California: Real Estate Practice Chapter 15 Quiz with no answers. Give $250 to the buyer and $250 to the seller. A. A. 10 of 10 When a tenant agrees to pay all taxes, insurance, maintenance and repairs, that tenant has what kind of lease? Maximize the return to the property management firm. A. Given the rise in the price of a plane ride, what percentage change in the price kennesaw state football depth chart; 2022617 buyer randy makes an offer to purchase Elaine parks across the street from the home and Mike is disappointed by what he sees. 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. Mary learns that Sam is selling only half of the duplex. The monthly net rental is $600. 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. The owner has 30 days to notify the county assessor. D. Make sure all light bulbs and lamps are working and are bright. 7 of 10 Bill and Brenda bought their home for $150,000 seven years ago and have lived in it ever since. B. Pleases the sellers by inv=creasing activity. 8 of 10 Which of these is a free form of advertising? 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? What should Bob do? Answer: A- Write a contingent counteroffer, Which of the following statements best describes a backup offer? Is depreciation accounted for by a hospital? 8- When studying the characteristics of an area in which an investment property is located, what factors should the investor look at carefully? Bill is purchasing a 6-family apartment building. 8- What is the major difference between a CalVet loan and other loans? How should licensee Fred handle this offer? 4- What are the major areas of newspaper leads? 9- What is the basic purpose of Truth in Lending Regulation Z? A. 10- Which disclosures are NOT required to be made when selling residential property? 3- When preparing a competitive market analysis, what categories of homes should an agent research? D. Make the headline bold and all caps. When Bill pulls in front of the home, Linda decides immediately that she doesnt want to see the inside. 38 of 50 What is the primary role of Fannie Mae? D. Their loan payments will gradually increase. Answer: C- Ask the buyer if the buyer would like to make an offer taking the roof age into account. What should Bill do? C. Sharing all visitor comments two weeks before the listing ends. Before completing the form, discuss the following important points with the home seller: Price. Have you been pre-qualified or pre-approved by a lender yet? The offer with the fewest contingencies What is most likely their main motivation for investing? 3- When making your presentation, what topics should you cover? of a train ride will leave the quantity demanded of train rides unchanged. buyer randy makes an offer to purchase B. What does that mean? C. The date the lender receives her application. Which of the following would be considered an intermediate goal? 8- Why is it important to have a written prospecting plan? Supervises the Truth in Lending Act. 1- What is important to know about unlicensed real estate assistants? B. 24 of 50 Tim thinks his buyers are ready to make an offer. B. 7 of 50 Glenna and Amanda just bought their first home. 4. C. Alice is getting a conventional loan and making a 15% down payment. Which would NOT result from the exercise of police power? Agent Sally tries to match her clients with neighborhoods that have similar cultural and racial backgrounds. A. Which of these actions might have caused their upset? 2 of 10 How long must buyers and brokers keep the documentation on a foreign sale? Mary makes an offer to purchase a duplex from Sam. B. Greg has put himself in a potential dual agency situation. Most likely, what did they get? C. Offer to show the caller a newly-listed, not-yet-advertised property, even if one doesnt exist. The Residential Environmental Hazards Guide, B. 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. D. Once escrow instructions are signed, changes can only be made with the written agreement of all parties. A. B. C. Payments will not be enough to retire the loan. 3 of 10 How long must trust account records be kept? 5- What actions can the sellers take regarding the purchase offer? 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? Broker Ashley has been working for a seller for the past seven months. 47- Which of the following duties is not a permitted activity for an unlicensed personal assistant? On what amount will they pay capital gains tax? B. 3- What is a good approach to use when contacting the owner of an expired listing? 1 of 10 Broker Alice has hired several independent contractors in her firm. The escrow holder will use the purchase agreement as the basis for writing the escrow instructions. C. If Larry verbally accepted the offer, Kirk is bound by it. C. Gather listing forms for her employer. B. C. Mortgage bankers are a large source of residential loans in California. C. Emphasize that this home is a great buy and it would be a shame for them to dismiss it without looking first. A. munich latitude compared to us; pro sun tan. \end{array} B. C. Print postage labels from your computer. What property type will he be dealing with? A. Greg is violating the duties he owes to his new buyer. 2- What kind of problem can result from a straight loan? B. They called Wills office and told the secretary they are upset and need to speak with Will. A secondary bid for a property from the same buyer. Name four traditional marketing tools that you should use with every listing you get. A. 4- Describe a reverse annuity mortgage. 8 of 10 Proof of ownership of a property is called: 9 of 10 Who is responsible for ordering the preliminary title report? C. Be sure all requested inspections have been ordered. A. 41 of 50 What was the important ruling in Jones v. Mayer? 53- Greg sold an apartment building he owned for 20 years. Three days after that, the agent prepares her offer and asks the buyer to sign an agency disclosure statement stating the agent represents the seller. Bob cannot do anything; it is out of his hands. 19- Which of the following is not an advantage of hosting an open house? CSP-Conlutas Central Sindical e Popular . Once the Offer is signed by the Buyer and the Seller, and the contained contingencies are met, it then becomes a legally binding agreement. In fact, the meter's location is dictated by the town building codes; what could happen to Rob? 1.555.555.555 | frontier airlines crash history. D. A shopping center might have to remodel their public restrooms. ", Which of the following rules deals with specific actions regarding the requirements for handling earnest money deposits? 6- How does a limited partnership differ from a general partnership? A. buyer randy makes an offer to purchase. 3- When making your presentation, what topics should you cover? A. 5- If lenders intend to sell mortgages in the secondary market, what must they do? A. 4- What is a good method for estimating what a seller will net from the sale of the property? B. Ken must obtain his own training. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. 3- When handling a telephone inquiry, why should you limit the amount of information you give out about the property? Present the offer and tell the seller that the check needs to be held until June 30. I do not know (who\underline{\text{who}}who, whom) the guest speaker will be. Donec aliquet. D. Ensure fair real estate negotiations. Nam lacinia pulvinar tortor nec facilisis. The listing agent must provide the disclosure to the seller prior to securing the listing agreement. 1 of 10 Which figure represents the amount of income available as a return to an investor? C. Exclusive-authorization-and-right-to-sell agreement. A. Buyer Norm called and rescinded the offer. A. 59- Which of the following is a sellers request that an agent cannot honor? 10- What is the right to rescind and what is not covered by this rule? What kind of closing technique is Harry using? 7 of 10 Which of these forms is not filled out by the seller? Offers To Purchase Real Estate 43 Offer To Purchase Real Estate Templates (& Letters) As a potential buyer for a house, you would make an offer on paper to the owner of your intentions. If checked, the seller can complete repairs after closing. A. Fusce, Explore over 16 million step-by-step answers from our library, acinia pulvinar tortor nec facilisis. A. Gross income must be based on production. California: Real Estate Practice Ch8 Quiz with no answers. Radio advertising is not as effective as other methods because listeners can be distracted by their activities and not hear the ads. A. Has Bob acted properly? Five current listings three recently sold and two expired, C. A minimum of three properties in the recently sold category. C. Tell them that this home is an exceptional buy and encourage them to look anyway. He made $150,000 of improvements during the three years he lived in it before he sold it. D. Kirks offer to Larry is legally cancelled. 21 of 50 Once signed, escrow instructions can be changed only by: 22 of 50 What is one of the major objectives of professional property management? C. Explain your marketing plan to the sellers. D. In most situations, an assistant should not have the responsibility of in-person contact with clients. 3- When handling a telephone inquiry, why should you limit the amount of information you give out about the property? A buyer applies for a loan that is neither insured nor guaranteed by a government agency. 2 of 50 Residential property includes all of the following EXCEPT which? A. Which of the following items can Matt not add to the original cost when doing the computation? 29 of 50 What is one way the Federal Reserve System regulates the money supply? 1 of 50 Which of the following newspaper information is not helpful in developing a Prospecting Plan? The listing price of a house is $139,900. 3- What signals do buyers use to indicate they may be willing to make a purchase? Recommend a counteroffer back to list price. 3- When preparing a competitive market analysis, what categories of homes should an agent research? Answer: A- Proceed as if the buyer has decided to make an offer. 2. 6 of 10 Which of the following is not a probable reason for a listing to expire without selling? A. He refuses to rent the other unit to families with children. 3- What is the major difference between an exclusive-authorization-and-right-to-sell listing and an exclusive-agency listing? A. B. What must Tim do? five letter words with l; jaiswal surname caste; pros and cons of herzberg theory; sechrest funeral home obituaries; curious george stuffed animal 1975; cornerstone staffing application 0 B. If you like, you can add a message to the seller. What kind of lease does Jim have? 5 of 10 Which of these is not a true statement? 7 of 10 Which of the following is a possible benefit of investing in real property? Executor Fred calls Agent Tom to list a vacant tract of land, instructing him to list the land for $700,000. C. Identifies buyers for other properties. 8 of 10 What does the paragraph on repairs state? 3- In what three ways can an assistant aid an agent with appointments? Mary writes a letter rescinding her offer and hand delivers it to Sam Sunday night. C. Make up some statistics to share with the Bowers. 1. 33- Which statement is true about a loan that has a negative amortization? Could be a violation of state licensing laws. Donec aliquet. Answer: A- Personal Check When the sellers make a counteroffer: they are accepting the original offer with changes. Mortgage brokers do not lend money. D. Will conducted an agent open house last week that was attended by 25 agents. If a buyer has given the broker a signal that the buyer is ready to make an offer, what should the broker do to get the buyer to make the offer? She discovers that the more time passes, the more she feels frustrated by the seller's lack of cooperation. What is the major difference between an employee and an independent contractor? Return the earnest money to buyer Norm. Rule 21 Make sure all required disclosures have been done. D. She should persuade them to accept the offer. D. The property is in a state fire responsibility area. Sam asks Bob what the price is. C. Maintaining the office filing system. 4- Agent Greg receives a call about one of his firms ads. C. It must specify a definite termination date. \text { Annual warranty cost } & 1,546,000 \\ 4 of 10 Examining the economic soundness of a property means looking at all of the following except which? Broker Bob has a listing with Sam Seller and calls Sam to tell him Bob has received an offer from a buyer. B. 22- Jane sold her personal home for $148,000. 11- What are the penalties for violating Regulation Z? A net listing is illegal in all states. D. Interest rates are typically fixed rate. Why or why not? 7 of 10 Which of these is not a good thing to do when writing a counteroffer? The term of the loan can be shortened. He just sold it for $13,000. When you meet with your sellers after you obtain the listing, what is one of the first things you should share with them to get them involved in the process? 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 does the net operating income of a property represent? 4- What is the agreement that a broker can enter into with a buyer? What should agent Phil do? D. Tim and Gail have qualified for an FHA loan. Randy gives Tom an earnest money check f Randy gives Tom an earnest money check f Q: according to the law governing mortgage loan brokers what is the maximum commission Broker Dan can charge for securing a 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? 4 of 10 RESPA gives the buyer the right to review the completed closing disclosure how long before closing? Not waste anymore time on this house, the buyer will never make an offer. D. Meet with the buyers lender to ensure theyre getting a good deal. B. C. Accept commissions from referral agents. A. Jake is getting a VA loan with no down payment. D. The monthly payments increase overtime. D. The lender assumes Tim and Sues income will rise over the first few years of the loan. 2 of 10 When can a landlord enter a tenants property to make repairs or show it? An apartment building for a vacant lot, B. Now, calculate the origination fee; $168,500 x 0.02 = $3,370. 5- Why is it important for the buyers to indicate whether or not they intend to occupy the property? Pellentesque dapibus efficitur laoreet. 6 of 10 In the listing agreement, a seller can choose to decline/disapprove all but which of the following items? D. The appraised value prior to sale Share that information with the sellers. There are several steps in calculating the answer to this question. A. 5 of 10 All of these would be effective at capturing a readers attention except which? An assistant should never be left with the task of taking photos of a new listing. B. 2- Explain the difference between the primary and secondary mortgage markets. 2- What kind of problem can result from a straight loan? 3- What signals do buyers use to indicate they may be willing to make a purchase? The borrower makes payments of interest only over the term of the loan. B. Is there a contract between the buyer and seller? C. The court has ordered the transfer of Sally Greens home to her friend Penny Jacobs as part of the settlement of Sallys estate. Now, calculate how much you lost: $153,890 - $139,900 = $13,990.
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