Agent Sally tries to match her clients with neighborhoods that have similar cultural and racial backgrounds. A rental condominium for a recreational vehicle. A. I do not know (who\underline{\text{who}}who, whom) the guest speaker will be. 6 of 11 Which of the following is not true about reverse annuity mortgages? This type of action might be viewed as: Buyer Frank has just signed a sales contract for a 2 million dollar property. 10. C. Exclusive-authorization-and-right-to-sell agreement. Private mortgage insurance is available for FHA loans. They will owe a balloon payment at the end of the loan term. C. The buyers are interested in another property. C. The seller can do all repairs himself. Hes no longer interested in seeing the inside and Marge agrees. What is the primary criticism that sellers have about their agents? C. Print postage labels from your computer. 5- What is the Closing Disclosure? Mortgage bankers bring borrowers and lenders together. "What would you like to offer?" A. 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. 2- What is floor time and why is it important? Several weeks later when showing another home to a buyer, Greg mentions that Kim would have accepted less for her home. 7- What does the net operating income of a property represent? 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. Three days after that, the agent prepares her offer and asks the buyer to sign an agency disclosure statement stating the agent represents the seller. Seeking listings C. Seeking both buyers and sellers D. Seeking buyers for others agents' listings 53- Greg sold an apartment building he owned for 20 years. 1- When is real property reassessed? If Broker Tom procures a buyer for Jack, Tom will get the commission and Alice will not. C. Ask the caller when not if he or she wants to see the property. If checked, the seller can complete repairs after closing. A. 5- What does the safety clause in the listing agreement do? practice test Flashcards | Quizlet California: Real Estate Practice Ch11 Quiz with no answers. 8- When considering making a loan to a borrower, which of the following factors would probably exert the least amount of influence on the lender? university of missouri hospital salaries 2021; port orange arrests today. 34 of 50 At a community meeting, Broker Amanda tells a group of families in an established neighborhood that several Indian families are planning to buy homes in their neighborhood. castilian drive, los angeles. 7 of 10 Which disclosure form gives detailed information about the propertys condition? 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? Hikayemiz; Misyon & Vizyon; Kalite Politikamz; Sertifikalarmz; ISPM-15 aretleme zin Duyuru; Sosyal Sorumluluk; Hizmetlerimiz C. Prepare additional documentation to take to the presentation. 7 of 10 If a broker receives a deposit check with a purchase contract, which of these is he not allowed to do? 12. 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. Mary writes a letter rescinding her offer and hand delivers it to Sam Sunday night. 7- In the initial meetings with the prospects, the agent should do all of the following except which? How to make a Best Offer. Which is true? Which of these forms of advertising is she most likely to avoid? 12- What are grant programs typically used for? 23 of 50 Which of the following statements best describes what happens in a mortgage loan transaction? If an item is already correct, write C on the line provided. Bob should not have presented the offer after the property was under contract to another buyer. 07 Jun. D. A basis of $140,000 and no taxable gain. A. Enter your offer. Offer to Purchase Form - Fill Out and Sign Printable PDF Template | signNow Tell Linda that the sellers will be very disappointed if they cancel the appointment. An agent should print off a copy of the listing on the companys Internet site to send to the sellers. 4. 7- What is the difference between an FHA loan and a VA loan? D. Kirks offer to Larry is legally cancelled. Amanda loves the home and wants to make an offer. Entails entering into two agreements simultaneously. B. Greg has put himself in a potential dual agency situation. They will have a number of new expenses as a result of this purchase. A. What should Bob do? buyer randy makes an offer to purchase - ftp.ivnowandzen.com 2- What is important to remember about multiple offers? 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. C. Mike has been late with his rent payments seven times in the past year, D. He had a serious physical altercation with his downstairs neighbor. Does not need to be familiar with office policy. buyer randy makes an offer to purchase. 4 of 10 RESPA gives the buyer the right to review the completed closing disclosure how long before closing? During this interim period, grant makes monthly rent payments and the owner accepts them. 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; Installation of central air conditioning, D. Addition of a tenant laundry facility. 7 of 10 Which paragraph of the purchase agreement must be initialed by both buyers and sellers for it to apply? C. Is subordinate to a first mortgage. Prior to bringing an offer to purchase. Bob receives an offer from a buyer that is 12% below Sam's asking price. 4 of 10 Which of the following is NOT a condition of the safe harbor test? Which of the following items can Matt not add to the original cost when doing the computation? C. It creates an agency relationship. The appraised value is $86,500; 80% of that amount is $69,200 ($86,500 x 0.80). What should Pat do with the earnest money deposit? 3 of 10 Which of the following statements is NOT true regarding a broker acting as an escrow agent? What should Tim do next? A. Hometown received $2400.00 in referrals. 3- How could refinancing be an investment benefit? What approach can Greg use to discourage the person from calling other agents? C. Mortgage bankers are a large source of residential loans in California. California Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. 6 of 50 Broker Tami has a very low advertising budget. Sunday afternoon, Mary is driving around and finds a property she likes better. Broker Bob has a listing with Sam Seller and calls Sam to tell him Bob has received an offer from a buyer. What is most likely their main motivation for investing? 6- Whats important to know about the Liquidated Damages paragraph? 3. 4- What do Fannie Mae and Ginnie Mae do that Freddie Mac does not? 9 of 10 Janet is an unlicensed assistant. 3- When preparing a competitive market analysis, what categories of homes should an agent research? A. Lead-based paint was used in the home. 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. The sellers want the earnest money check made payable to them instead. 1- What are the five aspects that are involved in any selling approach? buyer randy makes an offer to purchase - 740alvarado.com D. Property evaluations from other agents have valuable information for sellers. This mortgage type is popular among the elderly. Secure documents that are public information from the courthouse and other sources available to the public. 38 of 50 What is the primary role of Fannie Mae? 44- Jim owns a gift shop in a commercial building. 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? B. 2- What exception exists to the duty of obedience when working with a client? Bob cannot do anything; it is out of his hands. 13 of 50 What is the most common reason that owners try to sell their homes themselves? B. C. Real estate can respond quickly to changes in the market. C. Do you need the equity from your current home for the new home purchase? Which would NOT result from the exercise of police power? 9 of 10 All of these might be a buying signal except which? Maximize the return to the property management firm. 3. The ordinance also requires a 10-foot side set back. The borrower makes payments of interest only over the term of the loan. 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? $6,740 3- When handling a telephone inquiry, why should you limit the amount of information you give out about the property? What should Jake do? 9- Define a purchase money mortgage. C. Giving buyers your opinion of what works best for them. 4- What is a good method for estimating what a seller will net from the sale of the property? Better yet, try to avoid deal breakers. buyer randy makes an offer to purchase. 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. \text { Annual testing cost } & 543,000 \\ 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? Pellentesque dapibus efficitur laoreet. 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? Harry has some buyers that he believes are ready to make an offer. 7- Agent Jim needs to do a visual inspection of his listing. 7- What makes up a mortgage? 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. What should Tom do? Rule F-1. A purchase offer is a binding contract between the buyer, the seller and their agents. Several weeks later, Agent Tom becomes aware of a developer who would pay as much as $1,000,000 for the property. Mortgage brokers do not lend money. Course Hero is not sponsored or endorsed by any college or university. 57- Under federal income tax law, the basis for a personal residence is which of the following: A. 4- What are the major areas of newspaper leads? 4- What are the major areas of newspaper leads? D. Employee status versus independent contractor status is an IRS issue. A. 69- According to ECOA, lenders cannot discriminate against potential borrowers on the basis of all but which of the following? \hline \text { Annual inspection costs } & \$ 155,000 \\ D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. buyer randy makes an offer to purchasewhy do my fingertips smell like garlic PB Nitom Blog . D. Offer to call the prospect when new listings that meet his or her criteria come on the market. 102- What is the minimum period of time over which the owner of a commercial building can depreciate the improvements? 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? It took effect when Sam accepted Mary's offer. : 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. 6- What is important for the sellers to know about a counteroffer? The date Abby receives the good faith estimate. 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?. Protect Your Family From Lead In Your Home, C. The Homeowners Guide to Earthquake Safety, D. Consumer Guide to Disclosure for Buyers. 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? 33- Which statement is true about a loan that has a negative amortization? 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. Could be a violation of state licensing laws. 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? B. C. Neither Sarah nor Ken can get employer-provided health insurance. What is the major difference between an employee and an independent contractor? What kinds of things should he be looking for? 7- What does the paragraph in the listing agreement titled Entire Contract deal with? 46 of 50 Greg grew up in and lives in a rural area. How are properties affected by the local economy? Giving information about a listing to prospective buyers. What was Sam's appraisal cost for quality last year? C. Alice is getting a conventional loan and making a 15% down payment. Try to get Sam to accept the offer. A. Buyer Randy makes an offer to purchase one of Broker Tom's 6- When is a lender required to terminate a borrowers private mortgage insurance? She is probably using all but which of the following tools? Which statement is true? B. 1- What is important to know about unlicensed real estate assistants? Establish a homes fair market value. B. 88- Sally and Dan must pay 2 points on their new $65,000 loan. Buyers looking at FSBO homes are usually looking for a bargain. Person must be properly licensed. D. Recommend that the seller delay response to make the buyer nervous and then submit a counteroffer. D. Collecting information and pre-qualifying buyers yourself is the easiest and best approach. 3 of 10 How long must trust account records be kept? Which statement is true? Write a counteroffer. B. C. Participate in a tax shelter program. (Who, Whom) has been selected as the team captain? D. Hold both offers because he heard that a full-price offer is on its way. A. 9 of 10 An agent must give a copy of the listing agreement to the sellers: A. B. A. 62- When agent Hal shows a home he should never: A. buyer randy makes an offer to purchase - nubblesitesolutions.com 37- When dealing with the sale of a business, which is not a true statement? 2 of 10 Which of these is not an AIDA characteristic?