7 of 10 Which of the following is not a national real estate trade organization? C. It keeps your name in front of potential buyers and sellers. A. B. 4- Agent Greg receives a call about one of his firms ads. 1 of 10 When you receive an offer on a listing for less than asking price, you should not: A. A. C. The broker must conduct the escrow personally and not delegate any escrow activities. D. Preparing flyers and promotional materials for the brokers approval. 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? D. Understanding characteristics of the rental market. 5- What actions can the sellers take regarding the purchase offer? 13 of 50 What is the most common reason that owners try to sell their homes themselves? 7 of 10 Which of these forms is not filled out by the seller? 39- When doing a competitive market analysis, an agent looks at all but which of the following factors? 47 of 50 Which of the following would not qualify as a 1031 exchange? Which of the following statements is not true? 9 of 10 All of these might be a buying signal except which? 4 of 10 If someone shows up at the sellers door unexpectedly to see the home, the sellers should: C. Take their names and call your office. D. The date Abby makes the request to receive the booklet. C. An apartment manager might be required to allow a tenant with a disability to widen a doorway. What should you keep in mind when developing your marketing plans? C. Tangible assets transferred in the sale include inventory, fixtures and equipment. 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? escrow money must be passed back to the buyer. One offer is for $208,000; the other is for $200,000. C. FSBO sellers who list with an agent will pay their own advertising costs. A. 6- What is important for the sellers to know about a counteroffer? D. The interest payment is always smaller then the amount allocated to the principal. 10 of 10 Which of the following statements is not true about a net listing? B. A. Generates leads for new listings. 16 of 50 When doing research to recommend a reasonable listing price for a home, the most critical part of the research deals with analyzing: C. Listing prices of homes that expired unsold, D. Selling prices of recently sold homes. 5 of 10 Which of these statements is not true about qualifying buyers? 3- What is the major difference between an exclusive-authorization-and-right-to-sell listing and an exclusive-agency listing? C. Shows property addresses that should be excluded from prospecting. B. You can make a Best Offer on listings that have a Make Offer button. 4- Whats a bonus closing and whats important to keep in mind about this technique? What is important to remember about capturing the readers attention? It became a contingent contract when Sam accepted Mary's offer. Hes no longer interested in seeing the inside and Marge agrees. A week later, the salesperson takes a new listing and prepares an offer for her seller from her brother/client. Several weeks later when showing another home to a buyer, Greg mentions that Kim would have accepted less for her home. 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? Make sure all required disclosures have been done. There are no offers on the property during the 6-month listing period and the listing expires. C. A broker is not responsible for the acts of independent contractors. 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? 16 juin 2022 why do babies clap their feet. Understanding the kind of responses your advertising generates, D. Being able to anticipate the callers requirements. 70- Which of these items would be a credit to the buyer on the settlement statement? 1 of 10 Which figure represents the amount of income available as a return to an investor? 57- Under federal income tax law, the basis for a personal residence is which of the following: Which term is the process of joining several parcels of land into one larger parcel? D. Do not show the home between 10 a.m. and noon on Sundays. Three days later, the agent shows the property; at that time the customer reveals her financial abilities and motivation. Example 1. B. 5- What does the safety clause in the listing agreement do? A. Give as much detailed information about the property as you can. 7- How can a builder help you generate leads? 6- What is the Real Estate Transfer Disclosure Statement and who is responsible for providing it? 6 of 50 Broker Tami has a very low advertising budget. A broker cannot use the word escrow in a fictitious name. 47- Which of the following duties is not a permitted activity for an unlicensed personal assistant? 10 of 10 Agent Jim tells his buyers that the seller will leave the riding lawn mower if the buyers make an offer now. 7 of 10 How might probate information help in prospecting? California: Real Estate Practice Ch5 Quiz with no answers. 8- What is an important issue for potential buyer clients to understand? 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. 12 of 50 The manager of a large hotel refuses to rent a room to a blind person with a guide dog. 3- What is the major difference between an exclusive-authorization-and-right-to-sell listing and an exclusive-agency listing? C. Find a lender who is willing to do FHA loans. Step 2. Once the Offer is signed by the Buyer and the Seller, and the contained contingencies are met, it then becomes a legally binding agreement. Which of the following statements is true? C. Present the $208,000 offer and the $200,000 offer together at the same presentation meeting. C. There is a 6-month pre-payment penalty for paying off the loan early. 7- What makes up a mortgage? Two months later she purchased and moved into a new home that cost $145,000. C. It creates an agency relationship. Answer: D- They are effectively terminating the original offer. B. D. Avoid negative comments while hes inside the home. D. Discrimination on the basis of race is strictly prohibited, meaning no exceptions whatsoever. 3 of 10 Which of the following forms is non-standard and should be prepared by a broker to give to sellers? Give a discount to families with children. Answer: D- They are effectively terminating the original offer. Bob Broker knows that another offer will be coming in at about the same time. 8- When does a purchase offer become a legal contract? How to make a Best Offer. How does ALTA-R differ from ALTA? Write a counteroffer. A. During the time Sam owned the property he paid $350 per year in taxes, $150 per year on maintenance like grass cutting and $90 per year on miscellaneous expenses. 2- What exception exists to the duty of obedience when working with a client? 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 31 of 50 Which of the following AIDA characteristics is the most critical in the ad? 1 of 10 Broker Alice has hired several independent contractors in her firm. B. What property type will he be dealing with? 4 of 10 An unlicensed person engages in advertising that conveys the clear impression that he is a licensed real estate broker or is an officer or employee of a corporation who knowingly advertises a false statement concerning any land or subdivision. 8- What is the major difference between a CalVet loan and other loans? 7- What is the difference between an FHA loan and a VA loan? D. Interest rates are typically fixed rate. How should Jan's licensee handle the offer? 2- Who needs title insurance and why? 11. What should Tom do? Call Us Today! 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. C. Participation in the MLS increases a licensees inventory. 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. 9- What required disclosure is a result of Megans Law? Tell the buyer about the other offer and urge the buyer to skip the attorney. Jim has decided to specialize in what area of real estate? 1 of 10 The Lead-Based Paint Disclosure is required for homes built: 2 of 10 Which of these documents is for sellers only and not for buyers? Broker Bob has a listing with Sam Seller and calls Sam to tell him Bob has received an offer from a buyer. Why or why not? 9 of 11 Lenders can charge all of the following except which fee when a borrower gets a loan? Most likely, what did they get? A. 5- What is the Closing Disclosure? Sam plans to overnight the acceptance on Monday. \hline \text { Annual inspection costs } & \$ 155,000 \\ Sets a limit on the commission a broker can earn. Her asking price was $560,000 and the property sold for $575,000. A. B. Its easier to prioritize your tasks if your goals are in writing. 20- Which of the following would not be an essential component when researching the purchase of an apartment building? Sam asks Bob what the price is. Give housing choices to the widest range of people. B. Greg has put himself in a potential dual agency situation. "What would you like to offer?" Entails entering into two agreements simultaneously. 7 of 10 Bill and Brenda bought their home for $150,000 seven years ago and have lived in it ever since. What would you say about Sallys behavior? A. 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? C. An assistant can keep track of the progress of activities during escrow. C. Have keys made for company listings. When should the agent have disclosed this fact? 1- What is important to know about unlicensed real estate assistants? C. Date and attach supporting documents. A. Mike has changed jobs six times in the past six months. B. Ask the buyers to sign a real estate transfer disclosure statement. The buyers have been pre-qualified by a lender. 2 of 50 Residential property includes all of the following EXCEPT which? C. I will open my own office within nine years. Plastic dishes last a long time because they are unbreakable. 1- What is goodwill as it relates to a business? 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. D. Exert pressure on the sellers to include something the other party wants. B. 10 of 10 Which of these is not an exemption to fair housing law? 3- How could refinancing be an investment benefit? 6- What is the main reason sellers choose to sell their property without an agents help? 8 of 10 Which California Fair Housing law provides protection from discrimination by business establishments? B. Sandy and Bill are putting 30% down on their home purchase. The interest rate will increase gradually over time. There is nothing that can offset this problem. Studying population trends in the area. Explain the method used to write good advertising. The original loan becomes subordinate to the wraparound. Before the sale can get finalized, the owner would require you to first meet certain conditions. B. buyer randy makes an offer to purchasei miss you text art copy and paste. Will placed an ad in the most recent Home Buyers Guide. 42- Alice is planning her career and setting her goals. Give credit to all potential borrowers. 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. B. buyer randy makes an offer to purchase She tells them that this action could decrease their property values. A. university of missouri hospital salaries 2021; port orange arrests today. Anasayfa; Hakkmzda. 2- Explain the difference between the primary and secondary mortgage markets. A. B. 5 of 50 Jane has been working with some buyers for several weeks. B. 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. C. Your plan for finding the buyer a home. 75- All but which of the following is NOT an AIDA feature? Deposit the check into his trust fund account on the next business day. D. Convince a seller to list with you. 4- What are the major areas of newspaper leads? Agent Sally tries to match her clients with neighborhoods that have similar cultural and racial backgrounds. 51- Which statement is true about a homeowners exemption? C. Discuss alternative properties that may be interest. 33- Which statement is true about a loan that has a negative amortization? B. 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. 5- What actions can the sellers take regarding the purchase offer? B. Supervises the Truth in Lending Act. 2- Explain the difference between the primary and secondary mortgage markets. 105- Agent Alice has received an offer that she believes is not in the sellers best interest. 4- Whats a bonus closing and whats important to keep in mind about this technique? 8- Why should agent Grace give her client a Combined Hazards Book? A secondary bid for a property that is for more than the first offer 8 of 10 Which statement is true about a real estate assistant? C. Neither Sarah nor Ken can get employer-provided health insurance. Start in the room with the best features. 1 of 10 All of these questions could help you determine a prospects capacity to make a purchase except which one? Mortgage brokers do not lend money. C. Is not necessary if the verbal presentation is strong. What kinds of insurance do brokers normally require of their employees? He pays rent for occupancy, plus maintenance and operating expenses. $5,500 the first year, plus a maximum 2% increase in market value per year, B. A. 3- When handling a telephone inquiry, why should you limit the amount of information you give out about the property? Underline the correct pronoun in parentheses in the following sentence. C. Exclusive-authorization-and-right-to-sell agreement. He says to them, Would you prefer to take possession on September 1 or October 1? What kind of closing technique is Harry using? 11 of 50 Jake and Janet are required to pay 4 points on the $80,000 loan they are getting. How does ALTA-R differ from ALTA? yellowbrick scholarship reviews. 99- All exclusive listing agreements must have, C. A list of personal property included in the sale. Sam has insisted on pricing his home 10% higher than Bob's CMA recommended. What kind of mortgage are they looking for? 5- Under what circumstances can a loss on the sale of a personal residence be deducted from income taxes? 41 of 50 What was the important ruling in Jones v. Mayer? D. Recommend that the seller delay response to make the buyer nervous and then submit a counteroffer. B. 2- Describe an open listing. Loan terms are from 15 to 25 years. Properties are very liquid and can move quickly. A. 2 of 12 Which of the following statements is not true about the Federal Reserve? What should Tom do? Bob Broker represents Mary Buyer. 1- How much is the loan origination fee and what does it cover? The borrower gives the lender a note and a mortgage in exchange for the funds. 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. The borrower makes payments of interest only over the term of the loan. Write a contingent counteroffer. 1. B. Answer: A- Proceed as if the buyer has decided to make an offer. Where is it that he likely found out the property was for sale? 3- What signals do buyers use to indicate they may be willing to make a purchase? C. Classified ads placed on the property, D. Number of hits on the company website. Two weeks before the close of seller Jan's property, buyer Sam makes an offer. 6 of 10 A buyer calls your office to inquire about a property he saw advertised. Name four traditional marketing tools that you should use with every listing you get. C. A seller can sell his or own home and owe home and owe no commission if he or she signs an exclusive agency listing. B. How long does he have to file a complaint with the Department of Housing and Urban Development? C. Offer to show the caller a newly-listed, not-yet-advertised property, even if one doesnt exist. What is this called? 6- Whats important to know about the Liquidated Damages paragraph? 7 of 10 Which of these is not a good thing to do when writing a counteroffer? \text { Annual cost of scrap materials } & 286,000 \\ : The Commission could suspend or revoke Rob's license. B. A. B. Exclusive-authorization-and-right-to-sell agreement. 6- List the steps of underwriting. B. Last year, about 25% of his income came from sales commissions. Allows the agent to determine community market trends. 10 of 10 Which of the following is not a possible benefit of investing in real property? C. Giving buyers your opinion of what works best for them. To purchase conventional, FHA and VA loans, D. To insure conventional, FHA and VA loans. D. Written escrow instructions must include a statement with the brokers name, indicating he or she is a licensed real estate agent. Executor Fred calls Agent Tom to list a vacant tract of land, instructing him to list the land for $700,000. D. Have the broker send a thank you for listing letter to the sellers. D. Arrange to meet the prospect at your office. Buyer Norm just signed a purchase contract with licensee Pat. C. Recommend a counteroffer back to list price. 2- Name one advantage and one disadvantage of telephone contacts. 23 of 50 Which of the following statements best describes what happens in a mortgage loan transaction? D. The casement windows have broken seals. 102- What is the minimum period of time over which the owner of a commercial building can depreciate the improvements? D. Collecting information and pre-qualifying buyers yourself is the easiest and best approach. D. Is best left to experienced brokers. 8- Why should agent Grace give her client a Combined Hazards Book? D. Kirks offer to Larry is legally cancelled. What would be determined by a location survey? Launch into your list of the homes special features and hope she changes her mind. Which of these ad headlines would probably be the least effective for this home? B. Who will pay the points? Who is responsible for removing the lien to clear the title?