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";s:4:"text";s:13865:"A Bill of Sale gives title to the business equipment. Norm gave Pat a $500 earnest money check. Rob, a salesperson, tells a buyer that the location of the electric meter on a house is up to the buyer. The escrow holder will use the purchase agreement as the basis for writing the escrow instructions. A. 7- Name three benefits of listing a home with an agent that you could share with sellers. 3- What is the major difference between an exclusive-authorization-and-right-to-sell listing and an exclusive-agency listing? 8- When does a purchase offer become a legal contract? The ordinance also requires a 10-foot side set back. 101- Which type of loan typically carries the most loan points? B. I will do two practice listing presentations per week with an experienced agent for the next two months. 6- Which type of leasehold estate is commonly referred to as a periodic tenancy? 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. 8- What is the major difference between a CalVet loan and other loans? cross elasticity of demand for train rides with respect to the price of a plane ride A. Ashley should end this relationship by, : asking the seller to sign a mutual release. 6 of 10 Which of the following statements is not true? She doesnt need a license to perform many activities at the firm, but which of the following would require her to have a license? A. 47 of 50 Which of the following would not qualify as a 1031 exchange? 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? What should Jake do? Give an example of a specific short-term goal. Which of the following would be the least likely place for them to obtain a loan? 18- In a transaction that involves the purchase of a business, what document functions in the same way as the deed in a personal real estate transaction? Plastic dishes last a long time because they are unbreakable. If an item is already correct, write C on the line provided. A broker may advertise that he or she is an escrow agent. 24 of 50 Tim thinks his buyers are ready to make an offer. 67- Hannah is a real estate assistant. 4 of 10 Which of these is not an important aspect of selling? B. B. A. Brenda must follow all of Jims instructions. 9- What is the basic purpose of Truth in Lending Regulation Z? Establish a homes fair market value. A. 61- Bill and Sue secured a mortgage loan that is tied to an index which fluctuates over the life of the loan. 62- When agent Hal shows a home he should never: A. Can be used in place of a verbal presentation. of a train ride will leave the quantity demanded of train rides unchanged. D. This action is deliberate misrepresentation. Possession date. 2 of 10 Which of these is not an AIDA characteristic? "No, you may lose the house." C. The loan term will extend gradually over time. Follow the below steps to write a solid purchase agreement: Step 1 - Buyer and Seller Details. Underline each word that should be capitalized in the following items. C. The date the lender receives her application. 38- When using the straight-line method of depreciation, each year of economic age is given a rate that, A. Varies each year according to a table provided by the IRS, B. 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. Referral fee to a homeowners insurance agent. Information on current loan programs. 8 of 10 What does the paragraph on repairs state? 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?. 71- When agent Jane meets with her sellers to offer suggestions, she most likely would not give them: 72- According to RESPA, a buyer or seller cannot legally be charged at closing for which of the following items? B. The interest rate will increase gradually over time. The listing agent must provide the disclosure to the seller prior to securing the listing agreement. 46- A life insurance company would most likely invest in all but which of the following properties? B. Sandy and Bill are putting 30% down on their home purchase. Buys pools of mortgages in exchange for mortgage-backed securities. C. Giving buyers your opinion of what works best for them. Study the other terms of the offer so that you can maximize the offers benefits and minimize the lower price. The couple now has. 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? 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? munich latitude compared to us; pro sun tan. He asks, Which one of the children gets the basement bedroom with the private entrance? What kind of closing technique is Tim using? Mary learns that Sam is selling only half of the duplex. mejores programas bases de datos. 92- Which of the following situations is not exempt from the seller disclosure requirement? 10- Which of the following prospecting techniques do you have to use carefully because it has tended to upset people in recent years? California: Real Estate Practice Chapter 17 Quiz with no answers. Now, calculate the origination fee; $168,500 x 0.02 = $3,370. 2 of 12 Which of the following statements is not true about the Federal Reserve? A. D. Placing a classified ad in the weekend paper. 6- According to California real estate law, how often must a broker balance his or her trust accounts? 44 of 50 Fair Housing laws are designed to: A. 2 of 10 How long must buyers and brokers keep the documentation on a foreign sale? C. If Larry verbally accepted the offer, Kirk is bound by it. 3. What would be determined by a location survey? What is most likely their main motivation for investing? This action is legal but very unprofessional. 5- Your listing presentation manual should be made up of two sections that address what issues? 49 of 50 Greg and Wanda Sandler purchased their home 35 years ago and it was paid off at the end of thirty years. Download an offer to purchase document and refer to the annotated Agreement of Purchase and Sale to help you fill it out. 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. 1- How much is the loan origination fee and what does it cover? 53- Greg sold an apartment building he owned for 20 years. D. All adjustable rate mortgages have negative amortization. 6- Whats important to know about the Liquidated Damages paragraph? California: Real Estate Practice Sample of Final Course Exam. A. 36- Broker Eric secures a loan for buyer Paul. Now you have the numbers to plug into the loss formula; Percent of Loss = Loss / Cost or $13,990 / $153,890 = 0.0909. The offer that has the shortest closing date, Answer: B- The offer with the highest price that is the most likely to close. California Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. B. C. The Bryants have not received any feedback from any showings in the past month. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. 5- What does the safety clause in the listing agreement do? A. What should Tim do next? 84- Four years ago, Sam purchased a vacant lot for $10,000. 2. D. If the buyer rejects the first counteroffer, the seller can accept the first offer. 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. : 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. A. C. Allow indoor pets to leave their designated area. C. The owner has 45 days to pay the new property taxes. wigan warriors west stand chef buddy microwave egg cooker instructions; telemundo la casa de los famosos en vivo C. Salespersons must perform all of their activities on behalf of their employing broker. C. Alice is getting a conventional loan and making a 15% down payment. The Reality of Purchase Offers . 48- The public report that a developer must provide when offering subdivided lands for sale is provided by which agency? 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? 4 of 10 All of these are true of prospecting except: A. D. A basis of $140,000 and no taxable gain. 3- For whom do property tax exemptions exist and for how much? 8- Which section of the purchase agreement does not apply directly to the buyers and sellers? C. Moving closer to the agent to get a better look. 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 How are properties affected by the local economy? 4- Amanda calls broker Tim to schedule a showing of one of his listings. He sold the home for $750,000 and paid $50,000 in selling expenses, including the brokers commission. B. The fees that Eric charges Paul for making the loan could be any but which of the following amounts? dota 2 annual revenue 2020. adam foote parents. C. I will get three new listings this month. Answer: A- No, Bob Should have submitted the offer. Before the sale can get finalized, the owner would require you to first meet certain conditions. C. The air conditioner does not work. 10 of 10 All of these activities are appropriate to do within the first few days of obtaining a listing except which? 50 of 50 Eric is acting as a disclosed dual agent in a transaction. C. Offer to show the caller a newly-listed, not-yet-advertised property, even if one doesnt exist. Preparation of an appraisal of the property, D. Help with required forms and disclosures. 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. Tell Linda that the sellers will be very disappointed if they cancel the appointment. Share that information with the sellers. B. 3 of 10 Which of these lenders would be most likely to finance a large shopping mall? Attend weekly staff meetings at the office. 2. A. 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? C. Sellers are apt to choose qualified buyers over ones who have not been qualified. 9 of 10 Which of these is not a helpful homeowner tip? 8- Why should agent Grace give her client a Combined Hazards Book? A. Suggest that the buyer look at a different house. 4 of 10 Which of the following would be the least desirable phone handling technique? Sam accepts the offer and executes the contract on March 1, a Sunday. 4- Why is coordinating escrow so important and how can an assistant help? Display lots of family photos to impress potential buyers. A. Answer: B- Licensee Fred should take the offer to the seller and determine if the escrow deposit is acceptable. What kind of lease does Jim have? B. D. She should persuade them to accept the offer. Bob Broker represents Mary Buyer. 10 of 10 When a tenant agrees to pay all taxes, insurance, maintenance and repairs, that tenant has what kind of lease? C. The definition of handicap was expanded to include use of guide or support animals for deaf and blind individuals. 5 of 10 Alice has decided that she will specialize in selling farm land. 7 of 10 Which kind of advertising aims at increasing sales by informing the public of a companys capabilities? 2- Explain the difference between the primary and secondary mortgage markets. 4- What items are not covered by any title insurance policy? 6- Whats important to know about the Liquidated Damages paragraph? In addition to agent and MLS home tours, what are some other ancillary tools you can use? 29- Which of the following is not a good direct mail technique? Tommy asks his real estate agent to prepare a lease agreement instead of a purchase agreement now that he has decided to rent rather than buy. Buyers make an offer to purchase property and to place $1000.00 earnest money into their broker's trust account. C. Exclusive-authorization-and-right-to-sell. Jim has decided that he will learn all he can about the new subdivisions at the west end of town. A. From the 100' frontage, subtract the 10' per side setback (100' - 20' = 80'). 27 of 50 Tim and Sue have obtained a buydown loan on their newly built home. A. Forwarding calls from the public to one of the salespersons in the office. Two months later she purchased and moved into a new home that cost $145,000. 1 of 10 Which of the following actions by an agent would most probably upset the sellers? 1- How much is the loan origination fee and what does it cover? 73- Which of these is not a buying signal? She is probably using all but which of the following tools? 5 of 10 All of these would be effective at capturing a readers attention except which? What percent of commission the licensees can charge. Give credit to all potential borrowers. 7- What is the difference between an FHA loan and a VA loan? B. Sam asks Bob what the price is. He sold the building for $1,000,000 and paid $60,000 in commission to the broker. 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? 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. ";s:7:"keyword";s:38:"buyer randy makes an offer to purchase";s:5:"links";s:297:"Gruening Middle School Student Death,
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