8 of 10 Which of these statements about counteroffers is not true? C. Real estate can respond quickly to changes in the market. New Age purchased a new coffee maker the office was in need of. 2 of 50 Residential property includes all of the following EXCEPT which? The monthly net rental is $600. B. The HUD-1 Uniform Settlement Statement, required by RESPA, must be used in what instance? 3- What is the major difference between an exclusive-authorization-and-right-to-sell listing and an exclusive-agency listing? 1 of 10 What form can an agent use to show a seller what he or she will net on the sale of the property? The buyers have been pre-qualified by a lender. 2 of 10 All of these statements are true except which one? 10 of 10 Which of these individuals could not act as an escrow agent without an escrow license? What are some important tips for home tours? Mary makes an offer to purchase a duplex from Sam. B. She can do all of the following except which? 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? (Who, Whom) has been selected as the team captain? A. 5- What does the safety clause in the listing agreement do? D. Offer to call the prospect when new listings that meet his or her criteria come on the market. Copyright - CaliforniaRealEstateExamAnswers.com - 2023 -, >Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. 43 of 50 Which one of these statements would not be considered a measurable goal? Studying population trends in the area. 4. 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? 10- Whats the difference between a lease purchase and a lease option? A broker may advertise that he or she is an escrow agent. 7- What are the capital gains exclusions associated with the sale of a personal residence? What law creates an automatic lien on a commercial property, subject to the listing agreement? Hometown Real Estate, receives $100.00 each time they refer a customer to New Age flooring. 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. 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? 6- What items can an owner of an income-producing property deduct that an owner of a personal residence cannot? A. A. Youll know how much house they can afford. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. What should Bob do? Which of the following would be the least likely place for them to obtain a loan? 4- Why is it important to talk to the sellers about the buyers? Seller Stuart calls buyer Bruce, stating that he has changed his mind and now has no intention, under any circumstance, of coming to the closing table to complete the transaction set forth in their executed contract. Follow the below steps to write a solid purchase agreement: Step 1 - Buyer and Seller Details. Fusce, Explore over 16 million step-by-step answers from our library, acinia pulvinar tortor nec facilisis. How to Write a Purchase Agreement? 65- Which of the following items is usually not prorated at closing? D. Kirks offer to Larry is legally cancelled. 41 of 50 What was the important ruling in Jones v. Mayer? She sold the property and several months later the buyer sued Pam for not disclosing the problem. Lenders are in the best position to qualify buyers. Mary wants to terminate the contract. B. Brenda has violated the fiduciary duty of obedience to Jim. What property type will he be dealing with? Broker compensation to other brokers. It took effect when Sam accepted Mary's offer. 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? AnnualinspectioncostsAnnualcostofscrapmaterialsAnnualreworkcostAnnualcostofqualitytrainingAnnualwarrantycostAnnualtestingcost$155,000286,00034,679456,0001,546,000543,000. A. Kirk doesnt have the right to withdraw the offer so soon. C. They can make payments directly to the original lender. B. Which of the following is Kirk himself not likely to do during the application process? 53- Greg sold an apartment building he owned for 20 years. B. FSBO sellers believe they will save money if they sell themselves. B. Sam asks Bob what the price is. An agent should print off a copy of the listing on the companys Internet site to send to the sellers. 4- How is property management seen as a risk to investing? Answer: C- A secondary bid for a property that the seller will accept if the first offer fails. C. Alice is getting a conventional loan and making a 15% down payment. 8- What is the major difference between a CalVet loan and other loans? 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. 37 of 50 Which of the following economic characteristics is true? 58- Mortgage lenders are prohibited from discriminating in giving credit to prospective borrowers based on race, color, religion, national origin, sex, marital status, age or dependency on public assistance under which law or regulation? 10- Which disclosures are NOT required to be made when selling residential property?
buyer randy makes an offer to purchase - fabricadecosas.com C. Greg has violated the duty of confidentiality to Kim. California: Real Estate Practice Chapter 16 Quiz with no answers, 1 of 10 According to FIRPTA, what percent would a buyer who is buying the property as a personal residence need to withhold when purchasing a $200,000 home from a foreigner?. C. Theyre probably paying a higher interest rate on the second mortgage. B. Enumerate the homes special features and hope they change their minds. A rental condominium for a recreational vehicle. Sets a limit on the commission a broker can earn. B. Checking your browser. B. Pam is not liable since it was summer and the heating problem was not obvious. B. C. The fair market value at the time of sale D. Have the prospects sign the disclosure about agency relationship. Her asking price was $560,000 and the property sold for $575,000. C. The lender gives the borrower a mortgage and funds. C. Have keys made for company listings. 4- What do Fannie Mae and Ginnie Mae do that Freddie Mac does not? Give an example of a specific short-term goal. B. Ken must obtain his own training. 48- The public report that a developer must provide when offering subdivided lands for sale is provided by which agency? Go back to the buyer's agent and try to get the offer higher. D. Seeking buyers for others agents listings. D. Meet with an inspector at a listing. C. The broker must conduct the escrow personally and not delegate any escrow activities. The second mortgage has now become the primary loan.
buyer randy makes an offer to purchase - cspconlutas.org.br B. B. Then present the $208,000 offer. Which statement is true? D. Broker Gina puts $150 into her trust account. Answer a question with a question when possible. 6 of 10 A broker induces an owner to sell by telling him that Hispanics are moving into the neighborhood. Bill is purchasing a 6-family apartment building.
buyer randy makes an offer to purchase - nubblesitesolutions.com 5- Under what circumstances can a loss on the sale of a personal residence be deducted from income taxes? It can provide a steady stream of future clients. Find a home that meets FHA requirements. 1- How much is the loan origination fee and what does it cover? 6- What does the security and insurance clause of the listing agreement address? How would you classify this essay (high or low comedy)? 25 of 50 Mortgage lenders are required to disclose financing costs and annual percentage rate to the borrower under which law or regulation? Only after receiving the tenants consent. Ask the caller if he or she would like to receive e-mails on newly listed properties. An Offer to Purchase REval Estate (the "Offer") is a document that sets out the basic proposed terms and conditions between the Buyer and the Seller in a rEval estate transaction.
Chapter 8: QUIZ QUESTIONS Flashcards | Quizlet Supervises the Truth in Lending Act. Tell Linda that the sellers will be very disappointed if they cancel the appointment. B. C. The air conditioner does not work.
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. 47- Which of the following duties is not a permitted activity for an unlicensed personal assistant? A. 12,800 square feet 1. What percent of commission the licensees can charge. A broker may require licensees to carry high levels of automobile insurance. A. 6 of 10 In the listing agreement, a seller can choose to decline/disapprove all but which of the following items? What will they have to pay the lender? Could be a violation of state licensing laws. Retain the check for use with a future sales contract offer. 20 of 50 Seller Patsy wants to net $150,000 from the sale of her home. C. If Larry verbally accepted the offer, Kirk is bound by it. Share that information with the sellers. D. Administers special assistance programs. Their first mortgage will get paid off immediately. 4 of 10 Which of the following is NOT a condition of the safe harbor test? Checking your browser. Buys pools of mortgages in exchange for mortgage-backed securities. Which of the following would be considered an intermediate goal? Hometown received $2400.00 in referrals. Present the $208,000 offer today and wait for a response from the sellers before he presents the other offer. The broker will owe fiduciary responsibilities to the seller as well as the buyer. He succeeds in setting up an appointment to meet with the caller. 9- What required disclosure is a result of Megans Law? 98- Grant moves into his new office space while he awaits the completion of the negotiations of the lease terms. 45 of 50 What is the Federal Housing Administrations primary role in the mortgage market? The sellers want the earnest money check made payable to them instead. B. 9- What required disclosure is a result of Megans Law? 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? The following table lists all costs of quality incurred by Sam's Surf Shop last year. Bob Broker represents Mary Buyer. A. C. A broker is not responsible for the acts of independent contractors. 6- What is important for the sellers to know about a counteroffer? This is not true of which duty? 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. B. Practice exam for California Real Estate Practice Class, Answers will be revealed with the correct subscription. D. Buyers of FSBO homes are usually the ones who save money. Ordinary china is very fragile. A rental property has a return rate of 8%. What should Bill do? 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. Possession date. 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? 101- Which type of loan typically carries the most loan points? The sellers want the earnest money check made payable to them instead. Nam lacinia pulvinar tortor nec facilisis. Which of the following is true, if you are licensed as a referral agent? Suggest to the sellers that their listing price is too high. 14- Value includes which of the following aspects? The What do you need to remember about making phone calls to potential clients? 5- What kind of newspaper ad could you place to solicit a listing? A. I will complete the GRI certification in the next four years. 11 of 12 ECOA requires that a lender send a denial notice within: 12 of 12 The amount of debt, time and method of payment, interest rate and other loan terms are part of the: 1- What is the role of the Fed? Hikayemiz; Misyon & Vizyon; Kalite Politikamz; Sertifikalarmz; ISPM-15 aretleme zin Duyuru; Sosyal Sorumluluk; Hizmetlerimiz 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?