1- What is an important thing to remember about listing agreements? There are several successful agents at Johns office. 1 of 10 All of the following are good newspaper sections to read for prospecting except which? It took effect when Sam accepted Mary's offer. 28- Abby applies for a federally-related loan to purchase a home. Solved Randy and his real estate agent, Bob, enter into a - Chegg Course Hero is not sponsored or endorsed by any college or university. D. Broker Gina puts $150 into her trust account. Next, calculate the points charged; $168,500 x 0.02 = $3,370. 10 of 50 There has been very little interest in the Bowers home this past week. lumberton man killed; guggenheim annuity rates. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. She sold the property and several months later the buyer sued Pam for not disclosing the problem. Tell the buyer to submit the offer first and then take a copy to the attorney to review. 1- What are the three important considerations for a good property investment? The ordinance also requires a 10-foot side set back. A. A. Launch into your list of the homes special features and hope she changes her mind. 4 of 11 Which of these is also called a contract for deed? Five current listings three recently sold and two expired, C. A minimum of three properties in the recently sold category. 4 of 50 Seller Kim tells her agent Greg that she would be willing to accept $185,000 on her $205,000 listed home. 8 of 10 When is the first installment of property taxes due? 63- Jennys home appraised for $550,000. Finally, add the origination fee and points together to calculate the buyer's total cost; $3,370 + $3,370 = $6,740. 85- Which paragraph of the purchase agreement states that the balance of the purchase price will be deposited into escrow prior to closing? 19- Which of the following is not an advantage of hosting an open house? The second mortgage has now become the primary loan. 5- Your listing presentation manual should be made up of two sections that address what issues? A. 104- Lorna and Hal have obtained a growing equity mortgage for their new home. D. Give the sellers the price over the phone so that they can think about it before you meet with them. D. Collecting information and pre-qualifying buyers yourself is the easiest and best approach. Protect Your Family From Lead In Your Home, C. The Homeowners Guide to Earthquake Safety, D. Consumer Guide to Disclosure for Buyers. 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? Be a deal maker. 56- Which is not a true statement about the Agency Disclosure? 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? Answer: A- Write a contingent counteroffer, Which of the following statements best describes a backup offer? Bill is purchasing a 6-family apartment building. Use the yes-but technique to handle the objection. They called Wills office and told the secretary they are upset and need to speak with Will. Alex Jones owns a duplex and lives in one unit. B. Brenda has violated the fiduciary duty of obedience to Jim. 2- Name one advantage and one disadvantage of telephone contacts. 4- What are the major areas of newspaper leads? Answer: C- Try to get Sam to accept the offer. C. They can make payments directly to the original lender. Give the sellers a copy of some homeowners tips. The advertiser can be sentenced to up to a year in prison. C. The builder paid a lump sum amount at closing to reduce the interest rate for a few years. It can provide a steady stream of future clients. 2 of 10 Which is not a true statement about the Americans with Disabilities Act? C. Deposit into the brokerage business account. A. C. The buyers and sellers agents will sign the escrow instructions. 8 of 10 Proof of ownership of a property is called: 9 of 10 Who is responsible for ordering the preliminary title report? Share that information with the sellers. B. Give credit to all potential borrowers. Bob should not have presented the offer after the property was under contract to another buyer. First, determine the amount by which the first $40,000 is reduced; $40,000 x 0.05 = $2,000 (100% - 95% = 5% not covered). There is nothing that can offset this problem. C. I will get three new listings this month. B. FREE Offer to Purchase Real Estate Form - RealtyPact D. The casement windows have broken seals. 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? Which of the following conditions is Paul not required to report on this form? What should Bob do? There is a crack in the basement wall. Prices of properties currently on the market, C. Properties that were listed but did not sell. C. The air conditioner does not work. C. Theyre probably paying a higher interest rate on the second mortgage. 16- Dave and Nadine have decided that they want to become property investors. 1 of 10 All of these questions could help you determine a prospects capacity to make a purchase except which one? Anasayfa; Hakkmzda. 7 of 10 Which of the following is a possible benefit of investing in real property? 6- List the steps of underwriting. D. A lender can continue to collect PMI payments until the homeowners equity reaches 25%. Who would be exempt under New Jersey fair housing law? A. Which term is the process of joining several parcels of land into one larger parcel? 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? 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. 4 of 10 Timeshare buyers have the right to rescind a transaction within what timeframe after signing the purchase contract? 5- How do life insurance companies get involved in the investment market? C. Real Estate Settlement and Procedures Act. Have you been pre-qualified or pre-approved by a lender yet? 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. C. Supervises the Federal Housing Authority. D. The buyers love the landscaping improvements the sellers have made. In this case, multiply the monthly income ($600) by 12. Preparation of an appraisal of the property, D. Help with required forms and disclosures. A rental property has a return rate of 8%. D. Magazine ads are significantly more expensive than newspaper ads. He says to them, "Would you prefer to take possession on September 1 or October 1?" D. A shopping center might have to remodel their public restrooms. Mortgage brokers do not lend money. What is the status of the contract between Sam and Mary? 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. Which of the following statements is not true? Find a home that meets FHA requirements. C. Broker Harry deposits $1000 into his brokerage business account. Use as little white space as possible. : The Commission could suspend or revoke Rob's license. 3- What is the major difference between an exclusive-authorization-and-right-to-sell listing and an exclusive-agency listing? The lender gives a mortgage to the borrower and gets funds in exchange. The property is in an area that could flood. 30- Being prepared to handle incoming phone calls means all of the following except which? Sam has insisted on pricing his home 10% higher than Bob's CMA recommended. The difference between what Sara owes and what her home is worth is known as what? B. 51- Which statement is true about a homeowners exemption? 6 of 10 In the listing agreement, a seller can choose to decline/disapprove all but which of the following items? 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. The listing price of a house is $139,900. A. 6- According to California real estate law, how often must a broker balance his or her trust accounts? Who is responsible for removing the lien to clear the title? The Reality of Purchase Offers . 67- Hannah is a real estate assistant. C. Tell the sellers you expect an offer to be coming soon. How should licensee Fred handle this offer? B. The sales agent should: Write a counteroffer stipulating the sellers' request. The salesperson entered into a buyer-broker contract with her brother. 40- Which of the following phrases should Salesperson Brenda avoid when writing an advertisement for one of her listings? 5- Why is it important for the buyers to indicate whether or not they intend to occupy the property? 5- If lenders intend to sell mortgages in the secondary market, what must they do? Fill out a separate, numbered counteroffer form. Does not need to be familiar with office policy. Could be a violation of state licensing laws. The interest rate will increase gradually over time. A rental condominium for a recreational vehicle. What does the net operating income of a property represent? 4- How is property management seen as a risk to investing? B. Its easier to prioritize your tasks if your goals are in writing. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Department of Housing and Urban Development, C. Recorders Office in the county where the land is located. C. Alice is getting a conventional loan and making a 15% down payment. B. I will practice my listing presentations. 47- Which of the following duties is not a permitted activity for an unlicensed personal assistant? A. D. Call the sellers immediately and let them know you wont be coming by. I think theyre asking a fair price., C. What do you think would be a fair price?, D. The comps say that this price is right on target.. Follow the below steps to write a solid purchase agreement: Step 1 - Buyer and Seller Details. buyer randy makes an offer to purchase - 740alvarado.com 5 of 11 Which of these statements is true about a CalVet loan? C. Your plan for finding the buyer a home. Tell the sellers exactly how she feels and why she thinks the offer is not a good one. C. How much time the licensees must spend in the office. Person must be properly licensed. 4- Why is it important to talk to the sellers about the buyers? Which of these ad headlines would probably be the least effective for this home? What kind of listing agreement does Alice have with Jack? B. Ask the buyer if the buyer would like to make an offer taking the roof age into account. 4- What is a good method for estimating what a seller will net from the sale of the property? A. B. C. The buyers are interested in another property. B. Ken must obtain his own training. What is the market value of the property? A. Wills weekly report indicates two showings and five inquiries for the week. What kind of lease does Jim have? 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 His depreciation was $2,500 per year. 4- What do Fannie Mae and Ginnie Mae do that Freddie Mac does not? D. Their loan payments will gradually increase. Sam plans to overnight the acceptance on Monday. mejores programas bases de datos. California: Real Estate Practice Ch3 Quiz with no answers. 4- What items are not covered by any title insurance policy? 77- Which of the following Internet pages might not be of particular interest to buyers?
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