B. C. The broker must conduct the escrow personally and not delegate any escrow activities. 12,800 square feet D. Seeking buyers for others agents listings. Select Review offer. The term of the loan can be shortened. What is the most often used form of earnest money deposit? D. Hold both offers because he heard that a full-price offer is on its way. C. If Bill pays off the loan early, there will be no prepayment penalty. What would be determined by a location survey? Write a counteroffer. There . She doesnt need a license to perform many activities at the firm, but which of the following would require her to have a license? B. Its easier to prioritize your tasks if your goals are in writing. 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. 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. D. The selling agent must provide the disclosure to the buyer as soon as practicable prior to the execution of the buyers offer to purchase. What should Tim do next? A. buyer randy makes an offer to purchase The offer with the highest price that is the most likely to close 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? Radio advertising is not as effective as other methods because listeners can be distracted by their activities and not hear the ads. Fill out a separate, numbered counteroffer form. Offer to Purchase Form - Fill Out and Sign Printable PDF Template | signNow [Solved] Buyer Randy makes an offer to purchase one of Broker Tom's buyer randy makes an offer to purchase - fridarestaurant.com B. Now, calculate the origination fee; $168,500 x 0.02 = $3,370. Where is it that he likely found out the property was for sale? Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. C. An apartment manager might be required to allow a tenant with a disability to widen a doorway. What must Tim do? Enter your offer. 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?. Harry has some buyers that he believes are ready to make an offer. 10- What is the right to rescind and what is not covered by this rule? C. If Larry verbally accepted the offer, Kirk is bound by it. A. 8- Which section of the purchase agreement does not apply directly to the buyers and sellers? D. Magazine ads are significantly more expensive than newspaper ads. 6 of 10 Which of these is not a tool to help evaluate advertising effectiveness? Checking your browser. Gross income must be based on production. 8- Why should agent Grace give her client a Combined Hazards Book? Authors Channel Summit. B. 9. 3 of 10 Which of these lenders would be most likely to finance a large shopping mall? A week later, the salesperson takes a new listing and prepares an offer for her seller from her brother/client. wigan warriors west stand chef buddy microwave egg cooker instructions; telemundo la casa de los famosos en vivo 1- The amount that a seller takes away from a sale is termed: 2- Which of the following best describes prospecting? 4 of 11 Which of these is also called a contract for deed? Mortgage bankers bring borrowers and lenders together. 10 of 10 All of these activities are appropriate to do within the first few days of obtaining a listing except which? Listen carefully to everything your prospects say and repeat some specifics back at appropriate times so that they know you have heard what they said. 12- What does TRID require of lenders? yellowbrick scholarship reviews. Entails entering into two agreements simultaneously. how to type spanish accents on chromebook keyboard; one way process of communication; 47 brand franchise fitted hats; ncaa softball coaches' salaries 2019; albert pujols home run record; 3. D. Tim and Gail have qualified for an FHA loan. A. 81- Jake has decided to specialize in working with clients who purchase schools. This form is the first step in any real estate deal. You bought if for the listing price plus 10% and sold it for the listing price. The salesperson entered into a buyer-broker contract with her brother. Give $250 to the buyer and $250 to the seller. they are effectively terminating the original offer. The homebuyer, on the other hand, is hoping the transaction will close because the home is in A-1 condition and perfect. What kind of agreement is this? 18 of 50 The listing type that assures a broker that he or she will receive compensation no matter who procures the buyer is what kind of agreement? What kind of closing technique is Jim using? A. Brenda must follow all of Jims instructions. California: Real Estate Practice Chapter 18 Quiz with no answers. B. It never was effective since Sam had not notified Mary of the acceptance. D. Allows a broker to have as a commission anything above the minimum the seller sets. The original loan becomes subordinate to the wraparound. When Bill pulls in front of the home, Linda decides immediately that she doesnt want to see the inside. Find things in the home a seller needs to repair. 2. 52- Which statement is true about a listing contract? How would you classify this essay (high or low comedy)? 3- What signals do buyers use to indicate they may be willing to make a purchase? 9 of 10 Which of the following statements is not true? A secondary bid for a property that the seller will accept if the first offer fails 3 of 10 When must a listing agent present the Disclosure Regarding Real Estate Agency Relationships to the seller? B. Lenders are in the best position to qualify buyers. 10- Which disclosures are NOT required to be made when selling residential property? 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? Bill is purchasing a 6-family apartment building. 40 of 50 Which of the following Internet pages might not be of particular interest to buyers? 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? 4 of 10 Which is true of an exclusive-authorization-to-acquire-property agreement? 7- Name three benefits of listing a home with an agent that you could share with sellers. Next, determine the remainder of the loan; $185,000 - $40,000 = $145,000. 7- What is the difference between an FHA loan and a VA loan? What would be a good approach for Pam to take? 5 of 10 Which of the following is not a source of information for professional ethics codes? D. Once the offer or counteroffer is accepted and the offeror has been notified, a legal contract is formed. Give housing choices to the widest range of people. Other than residential list three kinds of property in the real estate market. C. Once you set a goal you should never change it. \text { Annual testing cost } & 543,000 \\ Tell Linda that the sellers will be very disappointed if they cancel the appointment. C. Regulating reserves of institutions with savings accounts only. 16 juin 2022 why do babies clap their feet. 5 of 10 California allows a property manager to charge a non-refundable fee for which? Broker Bob has a listing with Sam Seller and calls Sam to tell him Bob has received an offer from a buyer. Buys pools of mortgages in exchange for mortgage-backed securities. A duplex owner might need to remodel the kitchen in the rental unit to accommodate persons with disabilities. The difference between what Sara owes and what her home is worth is known as what? The Reality of Purchase Offers . 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? Lorem ipsum dolor sit amet, consectetur adipiscing elit. D. Exclusive-authorization-and-right-to-sell agreement. 4- Whats a bonus closing and whats important to keep in mind about this technique? California: Real Estate Practice Ch10 Quiz with no answers. Senior housing for residents 62 or older, B. university of missouri hospital salaries 2021; port orange arrests today. 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? 10 of 10 The cost of doing direct mail advertising depends on all of these things except which? Recommend a counteroffer back to list price. 30- Being prepared to handle incoming phone calls means all of the following except which? The check that accompanies the salesperson license application must be for what amount? B. Maximize the return to the property management firm. The buyers have been pre-qualified by a lender. Rob, a salesperson, tells a buyer that the location of the electric meter on a house is up to the buyer. D. The owner has 45 days to file a change in ownership statement. 7- Name three benefits of listing a home with an agent that you could share with sellers. A. Wills weekly report indicates two showings and five inquiries for the week. 10 of 10 Which proposition limited the maximum amount of tax on real property? 63- Jennys home appraised for $550,000. 8- Why is it important to have a written prospecting plan? The value of the property the borrower wants to purchase, D. The neighborhood in which the property is located. an opinion of value for the day of the appraisal only. $5,500 the first year, plus a maximum 2% increase in market value per year, B. 3- For whom do property tax exemptions exist and for how much? 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. This practice is: 24- When talking to his investment clients, Broker Adam often to tax shelters. lumberton man killed; guggenheim annuity rates. D. Tell the sellers its time to reevaluate the price. A. Forwarding calls from the public to one of the salespersons in the office. 2- What is floor time and why is it important? B. Access to over 100 million course-specific study resources, 24/7 help from Expert Tutors on 140+ subjects, Full access to over 1 million Textbook Solutions. A. Has Bob acted properly? 6- What items can an owner of an income-producing property deduct that an owner of a personal residence cannot? He refuses to rent the other unit to families with children. 10- Whats the difference between a lease purchase and a lease option? 9- What required disclosure is a result of Megans Law? 9 of 10 An agent must give a copy of the listing agreement to the sellers: A. C. Present Alexs offer first since it came in first. 102- What is the minimum period of time over which the owner of a commercial building can depreciate the improvements? 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. buyer randy makes an offer to purchase - cspconlutas.org.br The escrow holder will need information about the brokers commission. Sets a limit on the commission a broker can earn. What is the key feature of this type of loan? California: Real Estate Practice Ch11 Quiz with no answers. Buys conventional, FHA and VA loans. C. Maintaining the office filing system. 8 of 10 When is the first installment of property taxes due? Solved Randy and his real estate agent, Bob, enter into a - Chegg 1. 7- How can a builder help you generate leads? What type of relationship best describes how a real estate broker represents her principal in the sale of the principal's single-family home? 6- When is a lender required to terminate a borrowers private mortgage insurance? 48- The public report that a developer must provide when offering subdivided lands for sale is provided by which agency? A. Sam plans to overnight the acceptance on Monday. 2- What kind of problem can result from a straight loan? B. C. Insurance agents dealing with customers. California: Real Estate Practice Ch7 Quiz with no answers. California: Real Estate Practice Ch8 Quiz with no answers. B. B. Sandy and Bill are putting 30% down on their home purchase. Can be used in place of a verbal presentation. 20 of 50 Seller Patsy wants to net $150,000 from the sale of her home. D. Interest rates are typically fixed rate. Their interest rate will rise after the first few years. How much do you have in your savings account? Bob Broker brings Sam Seller an offer with a higher price than the existing contract Sam has with another buyer. C. The Bryants have not received any feedback from any showings in the past month. 4 of 10 If a person believes he or she has been discriminated against, how long does he or she have to file a HUD complaint? 4- Describe a reverse annuity mortgage. Minimize expenses while maximizing profits for the owner. Launch into your list of the homes special features and hope she changes her mind. B. D. Written escrow instructions must include a statement with the brokers name, indicating he or she is a licensed real estate agent. 4. B. C. Giving buyers your opinion of what works best for them. Answer: B- Licensee Fred should take the offer to the seller and determine if the escrow deposit is acceptable. She is probably using all but which of the following tools? D. The borrower gets a note in exchange for a mortgage. Jim and Jane financed the remaining $25,000 through the seller. Which of these actions might have caused their upset? 21- Which form of advertising is considered the most cost-effective method for selling a home? Answer: B- The contract is voidable due to mutual mistake. This action is legal but very unprofessional. A. Jim specializes in clients who want to buy restaurants. D. Gross income must be based on hours worked. I do not know (who\underline{\text{who}}who, whom) the guest speaker will be. B. Once the Offer is signed by the Buyer and the Seller, and the contained contingencies are met, it then becomes a legally binding agreement. 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? A. A. Youll know how much house they can afford. What is this called? C. Your plan for finding the buyer a home. 1- What is a competitive market analysis? 3- What signals do buyers use to indicate they may be willing to make a purchase? 6- What is the Real Estate Transfer Disclosure Statement and who is responsible for providing it? What kinds of things should he be looking for? Whoever brings the buyer will get the commission. A. 5- Why is it important for the buyers to indicate whether or not they intend to occupy the property? What is the result? C. Real estate can respond quickly to changes in the market. The borrowers family in case of his or her death, B. They will have a number of new expenses as a result of this purchase. Several weeks later when showing another home to a buyer, Greg mentions that Kim would have accepted less for her home. 9 of 10 Which of these is not a helpful homeowner tip? How would Grants lease at this time be classified? B. Supervises the Truth in Lending Act. Preparation of an appraisal of the property, D. Help with required forms and disclosures. The lender makes payments to the borrower. 1 of 10 Which of the following types of agency is not allowed in California? What kind of mortgage might they get? Not waste anymore time on this house, the buyer will never make an offer. 36- Broker Eric secures a loan for buyer Paul. 6- List the steps of underwriting. You can use a reverse telephone directory to get the names of residents. Be a deal maker. Sam asks Bob what the price is. 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? A. Follow the below steps to write a solid purchase agreement: Step 1 - Buyer and Seller Details. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. A. D. Employee status versus independent contractor status is an IRS issue. Ordinary china is very fragile. The owner of the property is HIV positive. Hometown received $2400.00 in referrals. B. Exclusive-authorization-and-right-to-sell agreement. 6- What does the security and insurance clause of the listing agreement address? B. Pleases the sellers by inv=creasing activity. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. 6 of 10 Which of the following is not a true statement? A. I will make two new contacts every day this week. Anasayfa; Hakkmzda. What is the primary criticism that sellers have about their agents? C. How much time the licensees must spend in the office. Mary makes an offer to purchase a duplex from Sam. Which of the following is Kirk himself not likely to do during the application process? buyer randy makes an offer to purchase 9- Define a purchase money mortgage. D. Meet with the buyers lender to ensure theyre getting a good deal. Answer: A- Proceed as if the buyer has decided to make an offer. (Who, Whom) has been selected as the team captain? FREE Offer to Purchase Real Estate Form - RealtyPact 73- Which of these is not a buying signal? 2- What exception exists to the duty of obedience when working with a client? The definition of race was expanded to include ancestry. Buyers make an offer to purchase property and to place $1000.00 earnest money into their broker's trust account. D. The loan must be repaid before the borrowers death. residential transactions financed by federally related mortgage loans. How to make a Best Offer. B. 57- Under federal income tax law, the basis for a personal residence is which of the following: 1- What is an important thing to remember about listing agreements? 29 of 50 What is one way the Federal Reserve System regulates the money supply? 1 of 10 Which Fair Housing Law added sex to the list of protected classes? He asks, Which one of the children gets the basement bedroom with the private entrance? What kind of closing technique is Tim using? D. The property is in a state fire responsibility area. D. Once escrow instructions are signed, changes can only be made with the written agreement of all parties. A. 51- Which statement is true about a homeowners exemption? 100- What does the Real Estate Disclosure Law refer to? What should Bob do? A. Greg is violating the duties he owes to his new buyer. Mary writes a letter rescinding her offer and hand delivers it to Sam Sunday night. If an item is already correct, write C on the line provided. Practice exam for California Real Estate Practice Class, Answers will be revealed with the correct subscription. It is completed by an interested Buyer then presented to the Seller, stating the basic terms under which the Buyer is willing to purchase the property. 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. D. Brenda has not violated any fiduciary duty. Which of the following is true, if you are licensed as a referral agent? Give a discount to families with children. Make sure all required disclosures have been done. The listing price of a house is $139,900. What should Tim do next? A. 7- How can a builder help you generate leads? Salesperson Sally tells her senior citizen buyers that the home they want to view is located in a neighborhood with several small children and loud teenagers. Present the offer and tell the seller that the check needs to be held until June 30. itur laoreet. What should Elaine do? 5- What actions can the sellers take regarding the purchase offer? Donec aliquet. D. Ken and Sarah both must be at the office from 9 a.m. to 5 p.m. 35- Who benefits from Private Mortgage Insurance? B. B. The price elasticity of demand for B. 10- Whats the difference between a lease purchase and a lease option? Bob writes the offer but is too embarrassed to submit it. D. Provides the names of individuals who may want to sell inherited property. D. Offer something valuable to the reader. 5 of 10 Mike bought his home last year for $150,000. 6- Whats important to know about the Liquidated Damages paragraph? 11. D. Discrimination on the basis of race is strictly prohibited, meaning no exceptions whatsoever. Next, calculate the points charged; $168,500 x 0.02 = $3,370. What kinds of things should you include in a weekly activity report? 8 of 10 Which of these is a free form of advertising? 7 of 10 Which document shows the assets and liabilities of a business? California: Real Estate Practice Ch9 Quiz with no answers. 10 of 10 Which of these is not an exemption to fair housing law? 49- Agent Dan tells his buyers that the seller will leave the washer and dryer if the buyers make an offer now. If a person feels like he or she has been discriminated against, how long does that person have to file a complaint? 10 of 10 Which of the following statements is not true about a net listing? C. Present the $208,000 offer and the $200,000 offer together at the same presentation meeting. At the end of the term, the loan balance will be negative. 3 of 10 Which of the following forms is non-standard and should be prepared by a broker to give to sellers? A. This best describes. 41- Agricultural land includes all of the following EXCEPT which? What should Bob advise Sam? 1- What are the three important considerations for a good property investment? C. Brenda could be liable for a breach of the listing terms. A. Ken is responsible for his own taxes, while the broker pays Sarahs. 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? A. What is the market value of the property? C. Is permissible if being accepted on behalf of a third party. 2- What does Proposition 58 state? 8 of 10 Which kind of listing gives one broker the right to sell, but allows the owner to sell the property and not owe a commission to the broker? What does that mean? If checked, the seller can complete repairs after closing. Only needs to be done periodically. Allows the agent to determine community market trends. Pellentesque dapibus efficitur laoreet. Pellentesque dapibus efficitur laoreet. 7 of 10 Which disclosure form gives detailed information about the propertys condition? What is Gregs capital gain on the apartment? 6 of 11 Which of the following is not true about reverse annuity mortgages? 9 of 11 Lenders can charge all of the following except which fee when a borrower gets a loan? Availability of multiple listing service, C. Broker-paid advertising and promotion, D. Assistance with filling out disclosures. However, she believes the sellers will not be willing to accept the offering price. D. A lender can continue to collect PMI payments until the homeowners equity reaches 25%. Real Estate Transfer Disclosure Statement, C. Natural Hazard Disclosure Statement. 7 of 10 Which statement is not true about opening escrows? D. Whether or not the licensees attend staff meetings. For purposes of federal income tax, which statement is true? 4- Amanda calls broker Tim to schedule a showing of one of his listings. 4 of 10 A totally disabled veteran could be eligible for a property tax exemption of up to what amount? 3. 2- What exception exists to the duty of obedience when working with a client? A. D. A basis of $140,000 and no taxable gain. 6. Point out that the roof is not leaking despite its age. 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. Amanda loves the home and wants to make an offer. Which of the following statements is true? What percent of commission the licensees can charge. Certain homeowners may qualify for a $10,000 exemption. B. Course Hero is not sponsored or endorsed by any college or university. Tip: to find a certain word or key term, press at the same time, the buttons: California: Real Estate Practice Ch1 Quiz with no answers, Answers will be revealed with proper subscription. Which would NOT result from the exercise of police power? 2- What types of office administration tasks are important for a licensed assistant to perform? Code Violations and Tax Delinquencies. C. Do you need the equity from your current home for the new home purchase? 65- Which of the following items is usually not prorated at closing? The Haleys want to get a mortgage that will cover the purchase price plus all the furnishings. the buyer is not allowed to make a counteroffer. B. 10 of 10 Which of the following is not a possible benefit of investing in real property? 2. B. 80- Which of the following is an example of commingling? An open listing is an exclusive contract. For what type of loan is the borrower applying? D. I will distribute 200 business cards every month for the next six months. A. What does the net operating income of a property represent? D. In most situations, an assistant should not have the responsibility of in-person contact with clients. \text { Annual rework cost } & 34,679 \\ Their first mortgage will get paid off immediately. 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? buyer randy makes an offer to purchase - fabricadecosas.com 2 of 10 When can a landlord enter a tenants property to make repairs or show it? Encourage Sam to make a counteroffer at 2% below Sam's asking price. C. Identifies buyers for other properties. He asks his real estate agent if she could tell him how to go about building a house on the land. 6 of 10 A broker induces an owner to sell by telling him that Hispanics are moving into the neighborhood. PRACTICE QUESTIONS), (correct answers will be revealed with correct subscription). Rule E-1 5 of 11 Which of these statements is true about a CalVet loan? D. Make the headline bold and all caps. Giving information about a listing to prospective buyers. A. A. Nam lacinia pulvinar tortor nec facilisis. He paid $100,000 for it, and made $300,000 worth of improvements.
Symphony Nursing Home Corporate Office Phone Number, Arby's Food Poisoning, Articles B