A. Executor Fred calls Agent Tom to list a vacant tract of land, instructing him to list the land for $700,000. What will they have to pay the lender? D. The lender assumes Tim and Sues income will rise over the first few years of the loan. C. Analyzing the income potential of the property. 1.555.555.555 | frontier airlines crash history. D. The date Abby makes the request to receive the booklet. 1- What are the five aspects that are involved in any selling approach? 3. Who is responsible for removing the lien to clear the title? Write a counteroffer. Mortgage brokers do not lend money. 4 of 10 Once an offer has been accepted, the agent should do all of the following except which? There is a crack in the basement wall. This action is legal but very unprofessional. 4 of 10 RESPA gives the buyer the right to review the completed closing disclosure how long before closing? 5 of 11 Which of these statements is true about a CalVet loan? Mary makes an offer to purchase a duplex from Sam. On what amount will he pay capital gains tax? 7- What happens if the parties do not initial the section of dispute resolution that deals with binding arbitration? 2- What is floor time and why is it important? Why is it important for licensees to understand the Americans with Disabilities Act? Present the offer and tell the seller that the check needs to be held until June 30. 10 of 50 There has been very little interest in the Bowers home this past week. A. What must Tim do? Answer: C- A secondary bid for a property that the seller will accept if the first offer fails. Giving information about a listing to prospective buyers. C. An offer or counteroffer can be withdrawn at any time before it has been accepted. They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. A. 4 of 10 What is a good method for an assistant to keep track of the various types of files a real estate broker must have? 8 of 50 Buyer Kirk submits an offer to seller Larry. A. Lead-based paint was used in the home. B. 3- When preparing a competitive market analysis, what categories of homes should an agent research? 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? plane rides is 0.5 and the price elasticity of demand for train rides is 0.2. D. John expects his agents to spend 5 hours a week on unsupervised telephone duty. 37 of 50 Which of the following economic characteristics is true? B. Whoever brings the buyer will get the commission. 9 of 10 Janet is an unlicensed assistant. 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? B. Pleases the sellers by inv=creasing activity. What approach can their agent take to change the sellers perception of the offer? 2 of 10 Which lender typically deals in interim financing? cross elasticity of demand for train rides with respect to the price of a plane ride 1- What are the five aspects that are involved in any selling approach? How long must a broker be licensed in order to apply for a temporary broker's license? 6 of 10 Which of these is an emotional reason that buyers buy property? C. Payments will not be enough to retire the loan. 7- How can a builder help you generate leads? 11- What are the penalties for violating Regulation Z? C. The fair market value at the time of sale D. Recommend that the seller delay response to make the buyer nervous and then submit a counteroffer. C. Present the $208,000 offer and the $200,000 offer together at the same presentation meeting. The lender must furnish a copy of the CFPB booklet to Abby no later than the third business day from which date? D. Must start out as a part-time employee. The sellers want the earnest money check made payable to them instead. A duplex owner might need to remodel the kitchen in the rental unit to accommodate persons with disabilities. To insure loans made by approved lenders, D. To sell loans to other secondary mortgage marketers. How should Jan's licensee handle the offer? In which stage of the General Adaptation Syndrome *(GAS) are bodily resources drained and stress hormones depleted? 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. 12- The second installment of property taxes comes due on: 13- Seller Jim tells his agent Branda that he does not want his home marketed to families with children. Tom thereupon submits a full-price offer to the owner and purchases the property. A. Wills weekly report indicates two showings and five inquiries for the week. 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? 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. 4 of 10 Which of the following would be the least desirable phone handling technique? 3- For whom do property tax exemptions exist and for how much? Will placed an ad in the most recent Home Buyers Guide. A. 9- What required disclosure is a result of Megans Law? 105- Agent Alice has received an offer that she believes is not in the sellers best interest. B. This best describes. 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? Buyer Norm just signed a purchase contract with licensee Pat. A. Now, calculate the origination fee; $168,500 x 0.02 = $3,370. C. Eric may not represent the sellers interests to the detriment of the buyer. A secondary bid for a property that the seller will accept if the first offer fails Loan terms are from 15 to 25 years. What is the major difference between an employee and an independent contractor? Hometown Real Estate, receives $100.00 each time they refer a customer to New Age flooring. What is Gregs capital gain on the apartment? B. Jim Sharp is purchasing his fathers home. During this interim period, grant makes monthly rent payments and the owner accepts them. C. Mortgage bankers are a large source of residential loans in California. ", Which of the following rules deals with specific actions regarding the requirements for handling earnest money deposits? 10 of 10 A competitive market analysis is an attempt to: A. They agree on a price and both parties execute the contract. B. To learn more about the real estate business, D. To make more money than a real estate agent. The loan will be distributed to them gradually. Explain. 8 of 10 Which of these statements about counteroffers is not true? The owner has 30 days to notify the county assessor. D. The interest payment is always smaller then the amount allocated to the principal. A. Forwarding calls from the public to one of the salespersons in the office. B. California: Real Estate Practice Ch7 Quiz with no answers. 54- Jim and Jane are buying a home for $120,000. C. The court has ordered the transfer of Sally Greens home to her friend Penny Jacobs as part of the settlement of Sallys estate. Pellentesque dapibus efficitur laoreet. The Haleys want to get a mortgage that will cover the purchase price plus all the furnishings. However, she believes the sellers will not be willing to accept the offering price. B. 16 of 50 When doing research to recommend a reasonable listing price for a home, the most critical part of the research deals with analyzing: C. Listing prices of homes that expired unsold, D. Selling prices of recently sold homes. D. Ensure fair real estate negotiations. C. Print postage labels from your computer. 5- What should a good management contract contain? C. Is permissible if being accepted on behalf of a third party. How are properties affected by the local economy? 4- Why is coordinating escrow so important and how can an assistant help? A. Ordinary china is very fragile. A. 11. Underline the correct pronoun in parentheses in the following sentence. 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. B. 16 juin 2022 why do babies clap their feet. 12 of 50 The manager of a large hotel refuses to rent a room to a blind person with a guide dog. 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? 5- What actions can the sellers take regarding the purchase offer? It can be considered an employment contract. 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. 7 of 10 Which of these is not a good thing to do when writing a counteroffer? A. Salesperson Harry can solicit his own listings. A. Information on current loan programs. Enter your offer. Example ______ 1. east of the mississippiriver\underline{\text{mississippi river}}mississippiriver. Which of the following would be considered an intermediate goal? 2- What exception exists to the duty of obedience when working with a client? A. 48 of 50 Which of these lenders would be the least likely to lend money for an investor to purchase an apartment building? D. Meet with an inspector at a listing. Elaine parks across the street from the home and Mike is disappointed by what he sees. Which of the following statements is not true? "Yes, let's offer $10,000 less than the asking price. Answer: A- No, Bob Should have submitted the offer. \end{array} How does ALTA-R differ from ALTA? 57- Under federal income tax law, the basis for a personal residence is which of the following: A. 2- What kind of problem can result from a straight loan? D. A lender can continue to collect PMI payments until the homeowners equity reaches 25%. 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. B. C. The date the lender receives her application. 9 of 10 Which of the following items would not usually be included in a presentation manual for buyers? B. What kind of closing technique is Jim using? They will have to make a very high down payment. 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. He sounds really excited about this property. D. The appraised value prior to sale Five current listings three recently sold and two expired, C. A minimum of three properties in the recently sold category. B. The salesperson entered into a buyer-broker contract with her brother. Two weeks before the close of seller Jan's property, buyer Sam makes an offer. Set up a face-to-face meeting with the sellers as soon as possible. The advertiser can be sentenced to up to a year in prison. 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? 31 of 50 Which of the following AIDA characteristics is the most critical in the ad? A counteroffer represents a rejection of an offer. A. 7- What does the net operating income of a property represent? Several weeks later, Agent Tom becomes aware of a developer who would pay as much as $1,000,000 for the property. She is probably using all but which of the following tools? Buys pools of mortgages in exchange for mortgage-backed securities. At the end of the term, the loan balance will be negative. 7- Name three benefits of listing a home with an agent that you could share with sellers. The home comes equipped with all furnishings. 10 of 10 When a tenant agrees to pay all taxes, insurance, maintenance and repairs, that tenant has what kind of lease? C. The loan term will extend gradually over time. California: Real Estate Practice Ch9 Quiz with no answers. 8- What is an important issue for potential buyer clients to understand? A net listing is illegal in all states. B. buyer randy makes an offer to purchase. Anasayfa; Hakkmzda. C. The definition of handicap was expanded to include use of guide or support animals for deaf and blind individuals. 8- What do you call those items that have been incurred by the seller but not paid, and how will they be handled on the settlement statement? The term of the loan can be shortened. 3- What are the three general responsibilities of a property manager? The buyer was responsible for making the discovery, so Pam is therefore liable. B. C. Your plan for finding the buyer a home. 88- Sally and Dan must pay 2 points on their new $65,000 loan. 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. C. Once filed, it remains until terminated. B. 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? C. Accept commissions from referral agents. In fact, the meter's location is dictated by the town building codes; what could happen to Rob? If you like, you can add a message to the seller. B. Pam is not liable since it was summer and the heating problem was not obvious. 5- Why is it important for the buyers to indicate whether or not they intend to occupy the property? The monthly net rental is $600. Decide which offer is best and present that one. What is the result? Answer a question with a question when possible. Explain the method used to write good advertising. C. Discuss alternative properties that may be interest. Which is true? Nam risus ante, dapibus a molestie consequat, ultrices ac magna. A. 77- Which of the following Internet pages might not be of particular interest to buyers? Sexta, 26 de novembro de 2021 . 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? Ashley should end this relationship by, : asking the seller to sign a mutual release. D. Once the offer or counteroffer is accepted and the offeror has been notified, a legal contract is formed. B. Housing and Community Development Act. His depreciation was $2,500 per year. 5- Why is it important for the buyers to indicate whether or not they intend to occupy the property? What is the primary criticism that sellers have about their agents? 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. B. Buyer Norm called and rescinded the offer. 4- What is a good method for estimating what a seller will net from the sale of the property? One day later. 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? 51- Which statement is true about a homeowners exemption? 6- What is the main reason sellers choose to sell their property without an agents help? 8- What is the major difference between a CalVet loan and other loans? 43- The Equal Credit Opportunity Act (ECOA) requires lenders to: A. 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 2 of 10 Offering a buyer more than one option and having him or her choose is using what kind of closing technique? A. Is there a contract between the buyer and seller? What does that mean? What are members of NAR required to do? 6 of 10 Which of the following is not an item that a buyer usually pays at closing? 3 of 10 Sara just bought her first new home. Be a deal maker. Buyers make an offer to purchase property and to place $1000.00 earnest money into their broker's trust account. Brenda refuses. C. Have keys made for company listings. buyer randy makes an offer to purchase. B. Could be a violation of state licensing laws. Entails entering into two agreements simultaneously. They will owe a balloon payment at the end of the loan term. 7 of 10 If a broker receives a deposit check with a purchase contract, which of these is he not allowed to do? 5 of 50 Jane has been working with some buyers for several weeks. 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? 49 of 50 Greg and Wanda Sandler purchased their home 35 years ago and it was paid off at the end of thirty years. 4 of 11 Which of these is also called a contract for deed? 90- Marsha has been keeping track of the effectiveness of her advertising campaigns. B. The definition of race was expanded to include ancestry. 5- What does the safety clause in the listing agreement do? B. The offer with the fewest contingencies B. 1 of 10 Which of the following types of agency is not allowed in California? 2- What kind of problem can result from a straight loan? You can make a Best Offer on listings that have a Make Offer button. D. Gross income must be based on hours worked. She would likely be required to do which of the following? 49- Agent Dan tells his buyers that the seller will leave the washer and dryer if the buyers make an offer now. "No, you may lose the house." 7- What does the paragraph in the listing agreement titled Entire Contract deal with? 9. 1. 10 of 10 Which of the following is not a possible benefit of investing in real property? 26 of 50 Veteran Bill has applied and been approved for a non-VA-guaranteed CalVet loan. 7- What are the capital gains exclusions associated with the sale of a personal residence? Lenders are in the best position to qualify buyers. 10 of 10 Which of the following statements is not true about a net listing? 2- What exception exists to the duty of obedience when working with a client? Before completing the form, discuss the following important points with the home seller: Price. 10. buyer randy makes an offer to purchase. 43 of 50 Which one of these statements would not be considered a measurable goal? 9 of 10 When you believe an offer is both fair and reasonable but it does not meet the sellers asking price, you should: A. : disclose the material relationship with the buyer on the dual agency disclosure, A man and woman sign a purchase contract, which is subsequently approved and signed by the seller. D. Property evaluations from other agents have valuable information for sellers. Name and define the two forms of advertising. What approach can their agent take to change the sellers perception of the offer? 9 of 10 An agent must give a copy of the listing agreement to the sellers: A. A. I will complete the GRI certification in the next four years. Which one is illegal in many states? 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. 8 of 10 Which of the following is a good direct mail technique? 2 of 10 When can a landlord enter a tenants property to make repairs or show it? A. 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? 6- Which type of leasehold estate is commonly referred to as a periodic tenancy? A. The borrower gives the lender a note and a mortgage in exchange for the funds. What is this agreement called? C. A counteroffer can give the buyers an out if they want one. Later that day, Kirk finds a home he likes better; so he withdraws his offer to Larry. Answer: C- Try to get Sam to accept the offer. C. Recommend a counteroffer back to list price. 5 of 10 Alice has decided that she will specialize in selling farm land. Secure documents that are public information from the courthouse and other sources available to the public. Covers more than one piece of property. Two months later she purchased and moved into a new home that cost $145,000. A. Allows quick repayment of the loan through accelerated payments. CSP-Conlutas Central Sindical e Popular . Tell the buyer to submit the offer first and then take a copy to the attorney to review. 2 of 10 Assistants who are asked to be available for tasks in the field rather than in the office are referred to as: 3 of 10 Which of these items on a resume accompanying an application for an assistants position should be kept brief? Present the $208,000 offer today and wait for a response from the sellers before he presents the other offer. 10 of 10 Which of these Internet pages might be of particular interest to sellers? D. Seeking buyers for others agents listings. 3- When handling a telephone inquiry, why should you limit the amount of information you give out about the property? 4 of 10 Which of these is not an important aspect of selling? 4- What is the agreement that a broker can enter into with a buyer? B. What would be a good approach for Pam to take? 5- Under what circumstances can a loss on the sale of a personal residence be deducted from income taxes? Skip the activity report for that week. C. Johns office has a selection of books, CDs and tapes for agent use. C. Real Estate Settlement and Procedures Act. 6 of 10 Which booklet is not part of the Combined Hazards Book? D. Send the weekly report as usual, emphasizing what your upcoming plans are for the week. 4- Agent Greg receives a call about one of his firms ads. C. Real estate can respond quickly to changes in the market. A. D. The first and second mortgage will be rolled into one. The home is listed at $210,000. Before the sale can get finalized, the owner would require you to first meet certain conditions. 1 of 10 Which of the following actions by an agent would most probably upset the sellers? There are several successful agents at Johns office. D. Convince a seller to list with you. C. Jim and Amanda whisper and frown when they see the basement. Is critical to your success in real estate. 12- What are grant programs typically used for? They sold the home for $450,000 and paid $30,000 in selling expenses, including the brokers commission. A. Refusing to make loans based on the racial composition of a neighborhood is called. B. 8- Why should agent Grace give her client a Combined Hazards Book? 38 of 50 What is the primary role of Fannie Mae? 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 A borrower cannot qualify for a conventional loan unless he or she can make a 20% down payment. C. Clearly written contractor agreement must exist. 7- Agent Jim needs to do a visual inspection of his listing. D. Provides the names of individuals who may want to sell inherited property. 4- What are the major areas of newspaper leads? C. The buyers and sellers agents will sign the escrow instructions. chris kelly rock 92 net worth. Rule 21 Answer: D- They are effectively terminating the original offer. 19- Which of the following is not an advantage of hosting an open house? A. 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. 2- What does Proposition 58 state? B. Brenda has violated the fiduciary duty of obedience to Jim. $6,740 C. Shows property addresses that should be excluded from prospecting. Suggest to the sellers that their listing price is too high. 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. What kind of mortgage are they looking for? He asks, Which one of the children gets the basement bedroom with the private entrance? What kind of closing technique is Tim using? 59- Which of the following is a sellers request that an agent cannot honor? A. Buys conventional, FHA and VA loans. Sharon and Steve have just taken a second mortgage on their home. C. Guarantees payment of all interest and principal on mortgage-backed securities. What kinds of things should you include in a weekly activity report?