B. D. Collecting information and pre-qualifying buyers yourself is the easiest and best approach. 14- Value includes which of the following aspects? buyer randy makes an offer to purchase buyer randy makes an offer to Fill out a separate, numbered counteroffer form. C. The buyers are interested in another property. 6 of 12 The maximum commission amount a mortgage loan broker can charge on a second mortgage loan of 3 years for $18,000 is what? Elaine parks across the street from the home and Mike is disappointed by what he sees. B. A. 2 of 50 Residential property includes all of the following EXCEPT which? 7 of 10 If a broker receives a deposit check with a purchase contract, which of these is he not allowed to do? 30- Being prepared to handle incoming phone calls means all of the following except which? What do you need to remember about making phone calls to potential clients? What kinds of things should he be looking for? Retain the check for use with a future sales contract offer. This term typically refers to. Next, calculate the points charged; $168,500 x 0.02 = $3,370. 67- Hannah is a real estate assistant. 100- What does the Real Estate Disclosure Law refer to? What approach can their agent take to change the sellers perception of the offer? What is the market value of the property? 2 of 10 A competitive market analysis contains information about all of the following items except which? Is equal for each year over the life of the property, C. Is high during the first five years of the ownership period, then reduces gradually over the life of the property, D. Varies according to the expired life of the improvements made to the property. 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. D. Call the sellers immediately and let them know you wont be coming by. 12- What are grant programs typically used for? A. I will make two new contacts every day this week. 7- What makes up a mortgage? 8 of 10 Proof of ownership of a property is called: 9 of 10 Who is responsible for ordering the preliminary title report? 7- In the initial meetings with the prospects, the agent should do all of the following except which? How long must a broker be licensed in order to apply for a temporary broker's license? C. Can perform some real estate activities without a license. 9- What required disclosure is a result of Megans Law? 3 of 10 A listing presentation can be compared to: 4 of 10 All of the following are benefits of listing with an agent except which? B. I will do two practice listing presentations per week with an experienced agent for the next two months. 69- According to ECOA, lenders cannot discriminate against potential borrowers on the basis of all but which of the following? If a person feels like he or she has been discriminated against, how long does that person have to file a complaint? Hes no longer interested in seeing the inside and Marge agrees. What should Tom do? Now, calculate the origination fee; $168,500 x 0.02 = $3,370. Sam asks Bob what the price is. What is the body of law that governs negotiable instruments? C. The date the lender receives her application. A. 2- When establishing rapport, whats one of the best ways to get to know your buyers? Bob cannot do anything; it is out of his hands. 3 of 10 Which of the following forms is non-standard and should be prepared by a broker to give to sellers? 7 of 10 Which of these forms is not filled out by the seller? 5- What actions can the sellers take regarding the purchase offer? 5- What does the safety clause in the listing agreement do? Answer: C- Ask the buyer if the buyer would like to make an offer taking the roof age into account. 5- What is the Closing Disclosure? Terminate the first contract and accept the higher offer. What kind of loan do they have? What kind of closing technique is Jim using? 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? C. The court has ordered the transfer of Sally Greens home to her friend Penny Jacobs as part of the settlement of Sallys estate. Tell Mike that the sellers will be upset if they cancel the appointment. 9- What is the basic purpose of Truth in Lending Regulation Z? B. 8- What is the major difference between a CalVet loan and other loans? C. Participate in a tax shelter program. B. 9 of 11 Lenders can charge all of the following except which fee when a borrower gets a loan? D. Kirks offer to Larry is legally cancelled. B. Salesperson Julie can receive her commission from the cooperating broker in her latest transaction. B. 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? sam neill laura tingle split Rule E-1 Can be used in place of a verbal presentation. Nam risus an, View answer & additonal benefits from the subscription, Explore recently answered questions from the same subject, Explore documents and answered questions from similar courses. 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. Understanding the kind of responses your advertising generates, D. Being able to anticipate the callers requirements. A. D. Brenda has not violated any fiduciary duty. B. FREE Offer to Purchase Real Estate Form - RealtyPact C. Giving buyers your opinion of what works best for them. D. Amanda smiles at Jim when she sees the whirlpool tub. D. Administers special assistance programs. 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? Suggest that the buyer look at a different house. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. 5 of 10 California allows a property manager to charge a non-refundable fee for which? The loan will be distributed to them gradually. A. 7- What happens if the parties do not initial the section of dispute resolution that deals with binding arbitration? The monthly net rental is $600. Share that information with the sellers. C. Sellers are apt to choose qualified buyers over ones who have not been qualified. 6 of 10 Which of these is an emotional reason that buyers buy property? A. Wills weekly report indicates two showings and five inquiries for the week. A. 4- Whats a bonus closing and whats important to keep in mind about this technique? D. Send the weekly report as usual, emphasizing what your upcoming plans are for the week. Then present the $208,000 offer. The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. Auteur/autrice de la publication : Post published: 16 juin 2022 Post category: aerogarden pump settings for herbs aerogarden pump settings for herbs 6 of 10 How often can a tenant call his or her own professional to make repairs and then deduct the amount from the next months rent? 8- What does the Water Heater Statement of Compliance address? 6 of 10 Which of these is not a tool to help evaluate advertising effectiveness? Which of these ad headlines would probably be the least effective for this home? 65- Which of the following items is usually not prorated at closing? 1 of 50 Which of the following newspaper information is not helpful in developing a Prospecting Plan? The borrower gives the lender a note and a mortgage in exchange for the funds. C. Print postage labels from your computer. What should Bob do? 13 of 50 What is the most common reason that owners try to sell their homes themselves? 22- Jane sold her personal home for $148,000. Give housing choices to the widest range of people. Referral fee to a homeowners insurance agent. What economic factors affect the real estate market as well as other goods and services? What is this called? What should Pat do with the earnest money deposit? Which area of specialization would she fall into? Given the rise in the price of a plane ride, what percentage change in the price A counteroffer represents a rejection of an offer. 11- What is a public report and when must it be provided? 1 of 10 All of the following are good newspaper sections to read for prospecting except which? 3 of 10 All of these items are important to include on your weekly activity report except which? 3- What is a good approach to use when contacting the owner of an expired listing? 8- What is an important issue for potential buyer clients to understand? C. If the selling agent does not deal directly with the seller, the selling agent is not required to provide the disclosure. B. B. 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. 8. 3 of 12 All of the following are primary mortgage market lenders except which? 33 of 50 Sal bought a personal residence for $150,000. C. Prepare additional documentation to take to the presentation. 5 of 10 Alice has decided that she will specialize in selling farm land. 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. 6. A broker may require licensees to carry high levels of automobile insurance. C. Discover why some homes havent sold. B. 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? 50 of 50 Eric is acting as a disclosed dual agent in a transaction. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. 8- Which section of the purchase agreement does not apply directly to the buyers and sellers? D. Greg has no fiduciary responsibilities to Kim once the listing expired. 78- Nancy bought her home last year for $425,000. B. 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. 10 of 11 Mark gets a home loan and the lender will charge him 3 points at closing. 9. 8 of 10 Which of these marketing tools is not considered a traditional tool? 3- What is the difference between CLTA and ALTA policies? Example ______ 1. east of the mississippiriver\underline{\text{mississippi river}}mississippiriver. Harry has some buyers that he believes are ready to make an offer. Radio advertising is not as effective as other methods because listeners can be distracted by their activities and not hear the ads. A. 1. A. Jim specializes in clients who want to buy restaurants. 3- What is a good approach to use when contacting the owner of an expired listing? C. Clearly written contractor agreement must exist. Answer: B- Licensee Fred should take the offer to the seller and determine if the escrow deposit is acceptable. How would Grants lease at this time be classified? D. Arrange to meet the prospect at your office. A. Ken is responsible for his own taxes, while the broker pays Sarahs. kennesaw state football depth chart; 2022617 buyer randy makes an offer to purchase 6- List the steps of underwriting. D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. D. Avoid negative comments while hes inside the home. 6 of 10 A broker induces an owner to sell by telling him that Hispanics are moving into the neighborhood. \text { Annual warranty cost } & 1,546,000 \\ D. All adjustable rate mortgages have negative amortization. C. Exclusive-authorization-and-right-to-sell agreement. B. Pam is not liable since it was summer and the heating problem was not obvious. What should Bill do? 4- What are the major areas of newspaper leads? buyer randy makes an offer to purchase PRACTICE QUESTIONS), (correct answers will be revealed with correct subscription). B. 9 of 10 Which of the following statements is not true? D. If the buyer rejects the first counteroffer, the seller can accept the first offer. The borrower makes payments of interest only over the term of the loan. 8 of 10 When is the first installment of property taxes due? C. There is a 6-month pre-payment penalty for paying off the loan early. buyer randy makes an offer to purchase. Her broker has asked her to be available for tasks in the field rather than in the office. Present the $200,000 first and recommend rejection. How to Write a Purchase Agreement? A. A. A. When Bill pulls in front of the home, Linda decides immediately that she doesnt want to see the inside. 1. 1 of 10 Which of the following types of agency is not allowed in California? A. Properties are very liquid and can move quickly. 5- What kind of newspaper ad could you place to solicit a listing? Yes, there was a contract when the seller mailed the offer, If, upon receipt of an offer to purchase under certain terms, the seller makes a counteroffer, the prospective buyer is. California: Real Estate Practice Ch12 Quiz with no answers. 3 of 10 Which of these lenders would be most likely to finance a large shopping mall? 1 of 10 Which of the following actions by an agent would most probably upset the sellers? 2. Donec aliquet. Senior housing for residents 62 or older, B. In the meantime, Bill gets another offer on the property from another buyer at a higher price. To learn more about the real estate business, D. To make more money than a real estate agent. The property is in an area that could flood. Mary makes an offer to purchase a duplex from Sam. A. B. Enumerate the homes special features and hope they change their minds. buyer randy makes an offer to purchase D. Is permissible in amounts under $50. 63- Jennys home appraised for $550,000. 4- What items are not covered by any title insurance policy? Has Bob acted properly? C. Is subordinate to a first mortgage. B. A. university of missouri hospital salaries 2021; port orange arrests today. A. She should advise them to let the offer expire with no action so the buyers will get nervous. What is the key feature of this type of loan? In the past year they have referred two dozen people who have purchased flooring from New Age. B. 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. D. Goals must be realistic if you hope to accomplish them. A. To insure loans made by approved lenders, D. To sell loans to other secondary mortgage marketers. C. Eric may not represent the sellers interests to the detriment of the buyer. Her asking price was $560,000 and the property sold for $575,000. Each of their payments is for the same amount. Hes very comfortable selling that type of property and knows he can work well with clients in that area. 20 of 50 Seller Patsy wants to net $150,000 from the sale of her home. 7 of 10 Which document shows the assets and liabilities of a business? Return the earnest money to buyer Norm. 6 of 10 Which of the following is not a true statement? Prior to bringing an offer to purchase. The owner has 30 days to notify the county assessor. D. The owner has 45 days to file a change in ownership statement. What is the most often used form of earnest money deposit? buyer randy makes an offer to purchase - ftp.ivnowandzen.com A. Try to get Sam to accept the offer. 2- Name one advantage and one disadvantage of telephone contacts. B. Two months later she purchased and moved into a new home that cost $145,000. Chapter 8: QUIZ QUESTIONS Flashcards | Quizlet Bob receives an offer from a buyer that is 12% below Sam's asking price. 8 of 10 Which California Fair Housing law provides protection from discrimination by business establishments? How are properties affected by the local economy? C. Once you set a goal you should never change it. D. A basis of $140,000 and no taxable gain. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. B. 38- When using the straight-line method of depreciation, each year of economic age is given a rate that, A. Varies each year according to a table provided by the IRS, B. 6- What does the security and insurance clause of the listing agreement address? D. The appraised value prior to sale Her property taxes would be assessed at: 79- Tom and Mary want to purchase their first home. A. D. The date Abby makes the request to receive the booklet. A buyer wants to take the offer to an attorney to review it. 5 of 10 How many properties should be included for comparison in a competitive market analysis? A. What are some important tips for home tours? 8- What does the Water Heater Statement of Compliance address? 7 of 10 Which of the following is not a national real estate trade organization? First, determine the amount by which the first $40,000 is reduced; $40,000 x 0.05 = $2,000 (100% - 95% = 5% not covered). Offer to Purchase Form - Fill Out and Sign Printable PDF Template | signNow 2 of 10 When can a landlord enter a tenants property to make repairs or show it? 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. What approach can Greg use to discourage the person from calling other agents? \end{array} You can make a Best Offer on listings that have a Make Offer button. Make sure all required disclosures have been done. 9 of 10 Agent Paul is bound to inform his client of all facts that might affect the clients interests both what Paul knows and what he should have known. Which of these situations would not be something Paul should know? Hometown Real Estate, receives $100.00 each time they refer a customer to New Age flooring. A. 07 Jun. B. B. Ken must obtain his own training. AnnualinspectioncostsAnnualcostofscrapmaterialsAnnualreworkcostAnnualcostofqualitytrainingAnnualwarrantycostAnnualtestingcost$155,000286,00034,679456,0001,546,000543,000. ", Answer: A- "What would you like to offer? D. Supply cannot be moved to a high demand area. 1- What is escrow? 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? 7 of 10 Which disclosure form gives detailed information about the propertys condition? D. Written escrow instructions must include a statement with the brokers name, indicating he or she is a licensed real estate agent. California Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. 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 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?" How much did Sam gain or lose on the sale? Which statement is true? D. Ensure fair real estate negotiations. 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? 2- What does Proposition 58 state? 80- Which of the following is an example of commingling? 4 of 10 Once an offer has been accepted, the agent should do all of the following except which? 5- When must a licensee provide an agency disclosure to a prospective client? D. Tim and Gail have qualified for an FHA loan. Mary learns that Sam is selling only half of the duplex. 7- What is the difference between an FHA loan and a VA loan? 2- What kind of problem can result from a straight loan? The sales agent should: Write a counteroffer stipulating the sellers' request. Rule 21 2 of 10 Which of these statements is true? This best describes. Give a discount to families with children. 9 of 10 An agent must give a copy of the listing agreement to the sellers: A. buyer randy makes an offer to purchase D. Lends good visual support to what the agent is saying. 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? 8 of 10 An association of two or more people who combine financial resources to achieve investment objectives is: 9 of 10 Which statement is not true about a Real Estate Investment Trust? California: Real Estate Practice Chapter 15 Quiz with no answers. 53- Greg sold an apartment building he owned for 20 years. A. 2- What kind of problem can result from a straight loan? 2- What are some tax benefits associated with investing? 3 of 10 Sara just bought her first new home. Rule F-1. A. The advertiser can be sentenced to up to a year in prison. Call Us Today! Sets a limit on the commission a broker can earn. 7- What happens if the parties do not initial the section of dispute resolution that deals with binding arbitration? What is important to remember about capturing the readers attention? 9- Which California Fair Housing Law Prohibits discrimination based on sexual orientation of source of income? 2- Explain the difference between the primary and secondary mortgage markets. Bill is purchasing a 6-family apartment building. 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. 12. 7- What is the difference between an FHA loan and a VA loan? California: Real Estate Practice Ch7 Quiz with no answers. A. Mike has changed jobs six times in the past six months. 3- When making your presentation, what topics should you cover? 9- What is the basic purpose of Truth in Lending Regulation Z? A. Offer to mail the caller a set of fliers on interesting properties. B. 103- Kirk and Sandy obtained a wraparound mortgage. Be a deal maker. 17 of 50 Kathy is a personal assistant at Action Realty. Free Purchase Agreement | PDF & Word | Legal Templates D. A lender can continue to collect PMI payments until the homeowners equity reaches 25%. Certain homeowners may qualify for a $10,000 exemption. A basis of $145,000 and a taxable gain of $3,000, C. A basis of $130,000 and a table gain of $18,000. C. Guarantees payment of all interest and principal on mortgage-backed securities. $5,600 every year, with no increase, C. $5,750 the first year, plus a maximum 2% increase in market value per year, D. $5,750, plus a maximum 1% increase in market value per year. They called Wills office and told the secretary they are upset and need to speak with Will. Use as little white space as possible. 10- Which disclosures are NOT required to be made when selling residential property? C. Allow indoor pets to leave their designated area. Which of these actions might have caused their upset? She tells Broker Al that he can list the property for whatever price he wants and anything he gets above the $150,000 he can keep as his commission. During a phone call, a salesperson discusses showing a property to a prospect. 4 of 10 Which is true of an exclusive-authorization-to-acquire-property agreement? Sample Final Exam for California Real Estate Practice Questions with no D. The interest payment is always smaller then the amount allocated to the principal. Next, determine the amount to apply toward the loan origination fee and discount points; $185,000 - $2,000 - $14,500 = $168,500. 2 of 12 Which of the following statements is not true about the Federal Reserve? C. Ask the caller when not if he or she wants to see the property. Be open-minded. 74- Which statement is not true about an agency relationship? Deposit the check into his trust fund account on the next business day. Bob Broker represents Sam Seller. He just sold it for $13,000. C. Once filed, it remains until terminated. 6 of 11 Which of the following is not true about reverse annuity mortgages? Mortgage bankers bring borrowers and lenders together. 1- What is an important thing to remember about listing agreements? It took effect when Sam accepted Mary's offer. B. 96- Which statement is not true about a listing contract? The difference between what Sara owes and what her home is worth is known as what? 48- The public report that a developer must provide when offering subdivided lands for sale is provided by which agency? [Solved] Buyer Randy makes an offer to purchase one of Broker Tom's 11- What is a public report and when must it be provided? Five current listings three recently sold and two expired, C. A minimum of three properties in the recently sold category. 88- Sally and Dan must pay 2 points on their new $65,000 loan. 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. 8- Why is it important to have a written prospecting plan? 10 of 10 Which of the following statements is not true about a net listing? You can use a reverse telephone directory to get the names of residents. B. Its a good idea for brokers to carry workers compensation coverage. cross elasticity of demand for train rides with respect to the price of a plane ride 8 of 10 Which of these is a free form of advertising? 8- Why is it important to have a written prospecting plan? D. I will distribute 200 business cards every month for the next six months. Possession date. 6 of 10 Which of the following statements is not true? 11- What are the penalties for violating Regulation Z? What should Tim do next? 5 of 10 The principles of an agency relationship include all of these factors except which one? D. All repairs must be in compliance with existing building codes. 9 of 50 Which of the following is a credit to the seller on the settlement statement? D. Do not show the home between 10 a.m. and noon on Sundays. Seeking buyers for your listings B. B. Before the sale can get finalized, the owner would require you to first meet certain conditions. What should agent Phil do? 57- Under federal income tax law, the basis for a personal residence is which of the following: Please remove your shoes before entering the home. 5 of 10 When all members have unlimited liability for debts and obligations of the group, the organization is a: 6 of 10 What is the foremost reason people invest in property? 5 of 10 Which of the following is not a source of information for professional ethics codes? Answer: D- Avoid telling him the price by setting up an immediate appointment. Protect Your Family From Lead In Your Home, C. The Homeowners Guide to Earthquake Safety, D. Consumer Guide to Disclosure for Buyers. California: Real Estate Practice Chapter 17 Quiz with no answers. 44 of 50 Fair Housing laws are designed to: A. 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? Buys conventional, FHA and VA loans. What disclosure does the salesperson owe to the buyer and seller? Present the higher-priced offer first. What should Tom do? B. 2- Explain the difference between the primary and secondary mortgage markets. California: Real Estate Practice Ch8 Quiz with no answers. 5- Under what circumstances can a loss on the sale of a personal residence be deducted from income taxes? C. Moving closer to the agent to get a better look. Why is it important for licensees to understand the Americans with Disabilities Act? Three days later, the agent shows the property; at that time the customer reveals her financial abilities and motivation. D. Employee status versus independent contractor status is an IRS issue. buyer randy makes an offer to purchase - nubblesitesolutions.com buyer randy makes an offer to purchase buyer randy makes an offer to purchase. 10 of 10 All of these activities are appropriate to do within the first few days of obtaining a listing except which? C. Emphasize that this home is a great buy and it would be a shame for them to dismiss it without looking first. D. Make sure all light bulbs and lamps are working and are bright. Encourage Sam to make a counteroffer at 2% below Sam's asking price. 5- What should a good management contract contain? A. The borrowers family in case of his or her death, B. 4- Agent Greg receives a call about one of his firms ads. B. Facebook Instagram. D. Once escrow instructions are signed, changes can only be made with the written agreement of all parties. 54- Jim and Jane are buying a home for $120,000. Hometown received $2400.00 in referrals. 6 of 10 Which booklet is not part of the Combined Hazards Book? Covers more than one piece of property. 25- According to the law governing mortgage loan brokers, what is the maximum commission Broker Claire can charge for securing a $50,000 first mortgage for a period of 2 years? 4 of 10 Which of the following would be the least desirable phone handling technique? From the 200' depth, subtract the 20' rear and front setback (200' - 40' = 160'). 11 of 50 Jake and Janet are required to pay 4 points on the $80,000 loan they are getting.
Paul William Ferrell West Virginia, Jackson County Elections 2022, 12000 Dixie Road Fort Jackson, Articles B
Paul William Ferrell West Virginia, Jackson County Elections 2022, 12000 Dixie Road Fort Jackson, Articles B