A. A. 22- Jane sold her personal home for $148,000. The loan value is based on the appraised value, not the sale price. 8 of 10 A lease that has no time limit is an: 9 of 10 Which of the following represents an intangible business asset? 5- What does the safety clause in the listing agreement do? What should Bob do? The home is listed at $210,000. Which of these forms of advertising is she most likely to avoid? C. It creates an agency relationship. 64- Which of the following is not a form of personal advertising? A. 8 of 10 Which of the following will give you comparative market data the fastest? Documents showing your affiliations with real estate organizations. Hikayemiz; Misyon & Vizyon; Kalite Politikamz; Sertifikalarmz; ISPM-15 aretleme zin Duyuru; Sosyal Sorumluluk; Hizmetlerimiz What kinds of insurance do brokers normally require of their employees? D. There is a loan protection plan included with the loan. A. Rule F-21 Explain. 36- Broker Eric secures a loan for buyer Paul. 10 of 10 Which of these Internet pages might be of particular interest to sellers? A. C. A borrower can request the cancellation of PMI payments when the equity reaches 20% of the appraised value. Gross income must be based on production. 8 of 10 Which of these statements about counteroffers is not true? 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? 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? Tell the buyer about the other offer and urge the buyer to skip the attorney.
practice test Flashcards | Quizlet D. Goals must be realistic if you hope to accomplish them. Bob Broker represents Mary Buyer. A. 10 of 10 Which of the following is not a possible benefit of investing in real property? Study the other terms of the offer so that you can maximize the offers benefits and minimize the lower price. 30- Being prepared to handle incoming phone calls means all of the following except which?
Buyer Randy makes an offer to purchase one of Broker Tom's 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. 8 of 50 Buyer Kirk submits an offer to seller Larry. A. His property taxes would be assessed at: 6 of 10 When a person acquires new property, which is true? Their interest rate will rise after the first few years. D. In most situations, an assistant should not have the responsibility of in-person contact with clients. If an item is already correct, write C on the line provided. 1. A. D. Written escrow instructions must include a statement with the brokers name, indicating he or she is a licensed real estate agent. Better yet, try to avoid deal breakers. 4- Whats a bonus closing and whats important to keep in mind about this technique? B. What do many firms do to avoid confusion with their advertising plan? The offer that has the shortest closing date, Answer: B- The offer with the highest price that is the most likely to close. 1 of 10 Gail is a licensed real estate assistant. C. Analyzing the income potential of the property. What will the new owners pay in property taxes? B. The value of the property the borrower wants to purchase, D. The neighborhood in which the property is located. 96- Which statement is not true about a listing contract? Covers more than one piece of property. Mary learns that Sam is selling only half of the duplex. What is the result? A. Answer: A- Proceed as if the buyer has decided to make an offer. 4- What items are not covered by any title insurance policy? A. The following table lists all costs of quality incurred by Sam's Surf Shop last year. It is determined by who pays the compensation. Checking your browser. 2- When establishing rapport, whats one of the best ways to get to know your buyers? Answer a question with a question when possible. 56- Which is not a true statement about the Agency Disclosure? B. Newsletters can be a very effective advertising forum for niche marketers. 8- Under what conditions may a landlord enter a tenants property? B. Deposit the check into his trust fund account on the next business day. 5- Under what circumstances can a loss on the sale of a personal residence be deducted from income taxes? 2 of 10 Which of these is not a good technique to get the name of a caller who is reluctant to give you that information? 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? Smoke Detector Statement of Compliance, D. Sellers Affidavit of Nonforeign Status and/or California Withholding Exemption. C. Exclusive-authorization-and-right-to-sell agreement. B. 10 of 10 Which proposition limited the maximum amount of tax on real property? Pellentesque dapibus efficitur laoreet. yellowbrick scholarship reviews. 6- What does the security and insurance clause of the listing agreement address? 50- Harry has some buyers that he believes are ready to make an offer. 11- Broker Jill has an agreement with seller Alice that says Jill will receive compensation if anyone except Alice sells Alices home, what kind of agreement is this? Properties are very liquid and can move quickly. What are members of NAR required to do? This best describes. Which statement is TRUE? D. Make the headline bold and all caps. C. Bake muffins or cinnamon rolls to create a homey feel. buyer randy makes an offer to purchase What kind of closing technique is Jim using? C. Make up some statistics to share with the Bowers. Mortgage brokers do not lend money. Step 2. Which law extended discrimination to include handicap and familial status? Name and define the two forms of advertising. He sold the building for $1,000,000 and paid $60,000 in commission to the broker. "What would you like to offer?" The purchase price, plus depreciation B. Jim Sharp is purchasing his fathers home. 1- What are the five aspects that are involved in any selling approach? Two months later she purchased and moved into a new home that cost $145,000. An assistant should never be left with the task of taking photos of a new listing. Make sure all required disclosures have been done. Rule F-1. Seeking buyers for your listings B. The check that accompanies the salesperson license application must be for what amount? 4. 4- What is the agreement that a broker can enter into with a buyer? 12- What are grant programs typically used for? 1- What is important to know about unlicensed real estate assistants? 14 of 50 The title report on a property shows there is a lien on the property. 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? D. Their loan payments will gradually increase. 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. A. B. Before the sale can get finalized, the owner would require you to first meet certain conditions. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Course Hero is not sponsored or endorsed by any college or university. The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? 3 of 10 Sara just bought her first new home. 8- When studying the characteristics of an area in which an investment property is located, what factors should the investor look at carefully? B. What are the buyer's costs on a $185,000 sale if the lender charges a 2% loan origination fee and 2 points? The listing agent must provide the disclosure to the seller prior to securing the listing agreement. They will have to make a very high down payment. 81- Jake has decided to specialize in working with clients who purchase schools. 9 of 12 When a lender is evaluating a buyers ability to repay a loan, the lender looks at all of these items except which one? 4. Mary makes an offer to purchase a duplex from Sam. He succeeds in setting up an appointment to meet with the caller. 57- Under federal income tax law, the basis for a personal residence is which of the following: C. The builder paid a lump sum amount at closing to reduce the interest rate for a few years. CSP-Conlutas Central Sindical e Popular . B. 49- Agent Dan tells his buyers that the seller will leave the washer and dryer if the buyers make an offer now. 23 of 50 Which of the following statements best describes what happens in a mortgage loan transaction? 5 of 10 All of these would be effective at capturing a readers attention except which? B. D. The UCC is a body of law that standardizes a number of business practices. The lender gives a mortgage to the borrower and gets funds in exchange. D. Purchasing loans from primary lenders. 85- Which paragraph of the purchase agreement states that the balance of the purchase price will be deposited into escrow prior to closing? Give a discount to families with children.
Making An Offer To Buy A Business - 6 Key Considerations - Forbes 6 of 10 Which of the following statements is not true? B. I will do two practice listing presentations per week with an experienced agent for the next two months. \end{array} 80 feet of frontage x 160 feet of depth = 12,800 square feet allowed by local ordinance. C. The Bryants have not received any feedback from any showings in the past month. A. A purchase offer is a binding contract between the buyer, the seller and their agents. 88- Sally and Dan must pay 2 points on their new $65,000 loan. Use as little white space as possible. C. The same amount will go towards the principal every month. B. Salesperson Julie can receive her commission from the cooperating broker in her latest transaction. He pays rent for occupancy, plus maintenance and operating expenses. C. Giving buyers your opinion of what works best for them. Private mortgage insurance is available for FHA loans. C. Tell the sellers you expect an offer to be coming soon. Next, calculate the points charged; $168,500 x 0.02 = $3,370. A. 52- Which statement is true about a listing contract? D. Preparing flyers and promotional materials for the brokers approval. Which of the following statements is not true? 4 of 10 All of these are true of prospecting except: A. 1 of 10 All of the following are good newspaper sections to read for prospecting except which? 4 of 10 Examining the economic soundness of a property means looking at all of the following except which? One offer is for $208,000; the other is for $200,000. A. 12- What are grant programs typically used for? What kind of closing technique is Jim using? D. Call the sellers immediately and let them know you wont be coming by. A. A. C. Present Alexs offer first since it came in first. C. They can make payments directly to the original lender. This is not true of which duty? In which stage of the General Adaptation Syndrome *(GAS) are bodily resources drained and stress hormones depleted? The adjusted cost basis of the first home was $140,000. D. Supply cannot be moved to a high demand area. \hline 4- What are the major areas of newspaper leads? 11- What are the penalties for violating Regulation Z? The borrowers family in case of his or her death, B. 8- Which section of the purchase agreement does not apply directly to the buyers and sellers? Other than residential list three kinds of property in the real estate market. Who will pay the points? D. Whether or not the licensees attend staff meetings. Anasayfa; Hakkmzda. "Yes, let's offer $10,000 less than the asking price. 8- Why should agent Grace give her client a Combined Hazards Book? D. After the agent has had time to make copies at the office. C. I will get three new listings this month. is 0.4. 33 of 50 Sal bought a personal residence for $150,000.
The steps to make an offer to purchase | DuProprio 5 of 10 Which of the following is not a source of information for professional ethics codes? 27 of 50 Tim and Sue have obtained a buydown loan on their newly built home. 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. What is the major difference between an employee and an independent contractor? 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?. A. If a seller changes the terms of the offer to purchase, he has created a counteroffer. The home has been listed for several months; so Pam does a CMA and determines that the offer is more than reasonable in todays market. 3- For whom do property tax exemptions exist and for how much? 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? B. Ask questions of the prospects children. 6- What is important for the sellers to know about a counteroffer? A. What would we call Hannah? A.
Making a Best Offer | eBay The couple now has. Which is true? 5- When must a licensee provide an agency disclosure to a prospective client?
Chapter 8: QUIZ QUESTIONS Flashcards | Quizlet B. 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? 1.555.555.555 | frontier airlines crash history. Who should Tommy recommend the owner consult with before making a decision? B. They made $50,000 of improvements. 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? D. Do not show the home between 10 a.m. and noon on Sundays. The owner has 30 days to notify the county assessor. 3 of 10 Homeowners can deduct all but which of the following from their income taxes? B. 6- Whats important to know about the Liquidated Damages paragraph? At time of license renewal, what is the renewal charge for a salespersons license? C. Offer to show the caller a newly-listed, not-yet-advertised property, even if one doesnt exist. What approach can their agent take to change the sellers perception of the offer? D. Ensure fair real estate negotiations. 3 of 10 A listing presentation can be compared to: 4 of 10 All of the following are benefits of listing with an agent except which? 77- Which of the following Internet pages might not be of particular interest to buyers? B. A. 3 of 10 Jake has received two offers on one of his listings. C. Guarantees payment of all interest and principal on mortgage-backed securities. This practice is: 24- When talking to his investment clients, Broker Adam often to tax shelters. Answer: C- A secondary bid for a property that the seller will accept if the first offer fails. At the end of the term, the loan balance will be negative. 28- Abby applies for a federally-related loan to purchase a home. Next, determine the remainder of the loan; $185,000 - $40,000 = $145,000. C. Deposit into the brokerage business account. 5- What kind of newspaper ad could you place to solicit a listing? A. D. Once escrow instructions are signed, changes can only be made with the written agreement of all parties. A. 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. Refusing to make loans based on the racial composition of a neighborhood is called. Secure documents that are public information from the courthouse and other sources available to the public. B. Plastic dishes last a long time because they are unbreakable. What is the body of law that governs negotiable instruments? Enter your offer. 7 of 10 Most buyers who see a newspaper ad that interests them: 8 of 10 Which of the following is not an advantage of home ownership? Answer: D- It was never effective since Sam had not notified Mary of the acceptance. D. Avoid negative comments while hes inside the home.