buyer randy makes an offer to purchasea father to his son poem figure of speech

95- Who is liable for the withholding on the sale of a property owned by a foreigner? A. Lead-based paint was used in the home. Answer: C- Ask the buyer if the buyer would like to make an offer taking the roof age into account. 2 of 10 Which of these statements is true? 84- Four years ago, Sam purchased a vacant lot for $10,000. C. Make up some statistics to share with the Bowers. B. 8- When does a purchase offer become a legal contract? 7 of 10 Bill and Brenda bought their home for $150,000 seven years ago and have lived in it ever since. 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.. What is the most often used form of earnest money deposit? Auteur/autrice de la publication : Post published: 16 juin 2022 Post category: aerogarden pump settings for herbs aerogarden pump settings for herbs B. He must withdraw his representation of one of the parties. Change the locks on the tenants apartment. I do not know (who\underline{\text{who}}who, whom) the guest speaker will be. One offer is for $208,000; the other is for $200,000. The lender in case of the borrowers death, C. The lender against delinquent payments, D. The lender in case of the borrowers default. Pellentesque dapibus efficitur laoreet. Answer: D- They are effectively terminating the original offer. 4- Amanda calls broker Tim to schedule a showing of one of his listings. Checking your browser. Which statement is true? They called Wills office and told the secretary they are upset and need to speak with Will. Senior housing for residents 62 or older, B. He asks, Which one of the children gets the basement bedroom with the private entrance? What kind of closing technique is Tim using? C. Neither Sarah nor Ken can get employer-provided health insurance. 5 of 10 California allows a property manager to charge a non-refundable fee for which? an opinion of value for the day of the appraisal only. The bundle of rights does NOT include the right of, Billy has a two-acre lot that is zoned agricultural. A. The monthly net rental is $600. 5. 53- Greg sold an apartment building he owned for 20 years. Person must be properly licensed. 1. Rule F-1. 3- What is the major difference between an exclusive-authorization-and-right-to-sell listing and an exclusive-agency listing? D. Buyer indemnity and seller protection. The value of the property the borrower wants to purchase, D. The neighborhood in which the property is located. C. The builder paid a lump sum amount at closing to reduce the interest rate for a few years. fairbanks ice dogs standings . From whom may a salesperson receive compensation for performed activities? D. Tell the sellers its time to reevaluate the price. 8 of 10 An association of two or more people who combine financial resources to achieve investment objectives is: 9 of 10 Which statement is not true about a Real Estate Investment Trust? What California Fair Housing law has the manager violated? Bill cannot contact the seller. C. Present Alexs offer first since it came in first. C. Participate in a tax shelter program. 91- This paragraph of the purchase agreements informs the seller of the buyers right to inspect the property and can cancel or request maintenance based on findings. B. Its a good idea for brokers to carry workers compensation coverage. \text { Annual cost of scrap materials } & 286,000 \\ B. Her broker has asked her to be available for tasks in the field rather than in the office. 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. 1- When is an agency relationship created? C. Shows property addresses that should be excluded from prospecting. B. 76- Mark believes he has been discriminated against during his home search. 8- What is an important issue for potential buyer clients to understand? 7- Agent Jim needs to do a visual inspection of his listing. 3- What is the difference between CLTA and ALTA policies? chris kelly rock 92 net worth. C. The owner has 45 days to pay the new property taxes. Answer: A- Proceed as if the buyer has decided to make an offer. 8 of 10 Which of the following circumstances would concern you about working for Broker John? A. Click the "Allow" button. 7. An open listing is an exclusive contract. 43- The Equal Credit Opportunity Act (ECOA) requires lenders to: A. Offers To Purchase Real Estate 43 Offer To Purchase Real Estate Templates (& Letters) As a potential buyer for a house, you would make an offer on paper to the owner of your intentions. C. The seller did not disclose the problem on a sellers disclosure form so Pam is off the hook. 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? 4 of 10 Which of the following would be the least desirable phone handling technique? C. Supervises the Federal Housing Authority. What should Alice do? Installation of central air conditioning, D. Addition of a tenant laundry facility. Goodwill is an intangible asset that results from the reputation of the business. 7- Name three benefits of listing a home with an agent that you could share with sellers. C. Payments will not be enough to retire the loan. A borrower cannot qualify for a conventional loan unless he or she can make a 20% down payment. The purchase price, plus improvements It is determined by who pays the compensation. 45 of 50 What is the Federal Housing Administrations primary role in the mortgage market? 5- Your listing presentation manual should be made up of two sections that address what issues? This best describes. Refusing to make loans based on the racial composition of a neighborhood is called. 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. They were counting on a full-price offer and are very disappointed. Hometown Real Estate, receives $100.00 each time they refer a customer to New Age flooring. buyer randy makes an offer to purchase. The difference between what Sara owes and what her home is worth is known as what? 82- What is the minimum period of time over which the owner of an apartment building can depreciate the improvements? What percent of loss did you have? A secondary bid for a property that is less than the first offer 7- What does the net operating income of a property represent? In this case, multiply the monthly income ($600) by 12. 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? B. Salesperson Sally tells her senior citizen buyers that the home they want to view is located in a neighborhood with several small children and loud teenagers. Buyers make an offer to purchase property and to place $1000.00 earnest money into their broker's trust account. 5- If lenders intend to sell mortgages in the secondary market, what must they do? 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 B. 10 of 10 A competitive market analysis is an attempt to: A. This term typically refers to. What kind of listing agreement does Alice have with Jack? 8 of 10 Which disclosure is required by the Real Estate Settlement Procedures Act? D. Provides the names of individuals who may want to sell inherited property. castilian drive, los angeles. 29 of 50 What is one way the Federal Reserve System regulates the money supply? Referral fee to a homeowners insurance agent. 6- What does the security and insurance clause of the listing agreement address? The Residential Environmental Hazards Guide, B. The lender makes payments to the borrower. B. A. C. Ask the caller when not if he or she wants to see the property. Present the offer and tell the seller that the check needs to be held until June 30. Alex Jones owns a duplex and lives in one unit. A. To purchase conventional, FHA and VA loans, D. To insure conventional, FHA and VA loans. C. Analyzing the income potential of the property. D. After the agent has had time to make copies at the office. 2. They agree on a price and both parties execute the contract. 4. He asks his real estate agent if she could tell him how to go about building a house on the land. 32 of 50 Alice is an employee of Mid-State Realty Services. B. One day later. C. Mortgage bankers are a large source of residential loans in California. A. Bob Broker represents Sam Seller. C. Print postage labels from your computer. The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. 7 of 10 If a broker receives a deposit check with a purchase contract, which of these is he not allowed to do? 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. Answer: B- Encourage the buyer to get the attorney to review it quickly. 4. D. Recommend that the seller delay response to make the buyer nervous and then submit a counteroffer. B. Newsletters can be a very effective advertising forum for niche marketers. 2- What kind of problem can result from a straight loan? 6 of 50 Broker Tami has a very low advertising budget. 3- When preparing a competitive market analysis, what categories of homes should an agent research? Which of these expenses is not associated with owning a home? The listing agent must provide the disclosure to the seller prior to securing the listing agreement. Allows quick repayment of the loan through accelerated payments. Gross income must be based on production. 44- Jim owns a gift shop in a commercial building. buyer randy makes an offer to purchase. 59- Which of the following is a sellers request that an agent cannot honor? Donec aliquet. Bill is purchasing a 6-family apartment building. Rule 21 Retired persons are a good source of neighborhood information. Jim has decided that he will learn all he can about the new subdivisions at the west end of town. C. Alice is getting a conventional loan and making a 15% down payment. 7. C. Real Estate Settlement and Procedures Act. Present the $200,000 first and recommend rejection. A. For income tax purposes, the IRS would probably classify Patrick as: 32- Broker Alice has a listing agreement with Jack. Answer: C- Try to get Sam to accept the offer. A. B. What should Bob do? Which term is the process of joining several parcels of land into one larger parcel? ", Answer: A- "What would you like to offer? 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? Who would be exempt under New Jersey fair housing law? 7 of 10 Which disclosure form gives detailed information about the propertys condition? Answer: D- Return the money to buyer Norm. Underline each word that should be capitalized in the following items. C. Jim and Amanda whisper and frown when they see the basement. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. 1- What is escrow? The listing price of a house is $139,900. Virtual tours are a very expensive marketing tool to use. 5- When must a licensee provide an agency disclosure to a prospective client? D. The buyers love the landscaping improvements the sellers have made. His depreciation was $2,500 per year. 70- Which of these items would be a credit to the buyer on the settlement statement? 1- When is real property reassessed? 8 of 10 Which kind of listing gives one broker the right to sell, but allows the owner to sell the property and not owe a commission to the broker? At the time the agent presents an offer. 8- What is the major difference between a CalVet loan and other loans? During a phone call, a salesperson discusses showing a property to a prospect. 80- Which of the following is an example of commingling? 27 of 50 Tim and Sue have obtained a buydown loan on their newly built home. How would you classify this essay (high or low comedy)? Now you have the numbers to plug into the loss formula; Percent of Loss = Loss / Cost or $13,990 / $153,890 = 0.0909. 75- All but which of the following is NOT an AIDA feature? She doesnt need a license to perform many activities at the firm, but which of the following would require her to have a license? D. Offer to call the prospect when new listings that meet his or her criteria come on the market. Anasayfa; Hakkmzda. The adjusted cost basis of the first home was $140,000. A. B. 60- Seller Tom has an agreement with Broker Bill, Broker Jim and Broker Joe. Post by; on fulgrim vs guilliman excerpt; clubhouse baseball iphone . D. Property evaluations from other agents have valuable information for sellers. 39- When doing a competitive market analysis, an agent looks at all but which of the following factors? 2- What is floor time and why is it important? B. Exclusive-authorization-and-right-to-sell agreement. B. 69- According to ECOA, lenders cannot discriminate against potential borrowers on the basis of all but which of the following? A. \hline A week later, the salesperson takes a new listing and prepares an offer for her seller from her brother/client. A. California: Real Estate Practice Chapter 14 Quiz with no answers. A. It became a contingent contract when Sam accepted Mary's offer. D. Discrimination on the basis of race is strictly prohibited, meaning no exceptions whatsoever. The broker will not provide any. 2- Explain the difference between the primary and secondary mortgage markets. B. How much do you have in your savings account? 4- Why is it important to talk to the sellers about the buyers? 6. D. The property is in a state fire responsibility area. C. Greg has violated the duty of confidentiality to Kim. Course Hero is not sponsored or endorsed by any college or university. D. Ensure fair real estate negotiations. This mortgage type is popular among the elderly. Deposit the check into his trust fund account on the next business day. Sets a limit on the commission a broker can earn. Tell the sellers exactly how she feels and why she thinks the offer is not a good one. 33- Which statement is true about a loan that has a negative amortization? B. C. If Larry verbally accepted the offer, Kirk is bound by it. The broker will owe fiduciary responsibilities to the seller as well as the buyer. C. FSBO sellers who list with an agent will pay their own advertising costs. 66- When doing a listing presentation which of the following items would you not describe to the owners as being a benefit of listing with an agent? 5- Your listing presentation manual should be made up of two sections that address what issues? 31 of 50 Which of the following AIDA characteristics is the most critical in the ad? From the 100' frontage, subtract the 10' per side setback (100' - 20' = 80'). 8- What does the Water Heater Statement of Compliance address? Regulates reserve requirements for all institutions that offer checking accounts. Point out that the roof is not leaking despite its age. C. Can perform some real estate activities without a license. D. All adjustable rate mortgages have negative amortization. 88- Sally and Dan must pay 2 points on their new $65,000 loan. 6 of 10 Which of the following statements is not true? D. A shopping center might have to remodel their public restrooms. 9 of 11 Lenders can charge all of the following except which fee when a borrower gets a loan? The owner asks Tommy to market the property at market value but asks Tommy if he could negotiate with the bank and orchestrate a short sale. C. I will open my own office within nine years. You had a 9% loss. D. Tim and Gail have qualified for an FHA loan. 4 of 10 A totally disabled veteran could be eligible for a property tax exemption of up to what amount? 6 of 11 Which of the following is not true about reverse annuity mortgages? B. 9 of 10 All of these might be a buying signal except which? A. 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? 9 of 10 A reference list of alternative comparable properties is sometimes referred to as the: 10 of 10 Prospects Jim and Linda arrive with agent Bill at the first showing. D. All repairs must be in compliance with existing building codes. 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? C. Moving closer to the agent to get a better look. B. Find solutions. 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? B. 22- Jane sold her personal home for $148,000. The HUD-1 Uniform Settlement Statement, required by RESPA, must be used in what instance? 5 of 11 Which of these statements is true about a CalVet loan? Which of the following items can Matt not add to the original cost when doing the computation? What kind of closing technique is Jim using? Housing and Community Development Act. B. What should Tim do next? buyer randy makes an offer to purchase buyer randy makes an offer to purchase. B. You bought if for the listing price plus 10% and sold it for the listing price. What is the key feature of this type of loan? They will have a number of new expenses as a result of this purchase. 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. A duplex owner might need to remodel the kitchen in the rental unit to accommodate persons with disabilities. 8- Why is it important to have a written prospecting plan? 6- What items can an owner of an income-producing property deduct that an owner of a personal residence cannot? Now, calculate the origination fee; $168,500 x 0.02 = $3,370. 5 of 10 Which of these statements is not true about qualifying buyers? This type of action might be viewed as: Buyer Frank has just signed a sales contract for a 2 million dollar property. Here are the steps to follow to make an offer to purchase: Step 1. 9- What is the basic purpose of Truth in Lending Regulation Z? 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. There is a crack in the basement wall. 5- Why is it important for the buyers to indicate whether or not they intend to occupy the property? California: Real Estate Practice Ch8 Quiz with no answers. She is probably using all but which of the following tools? 4- Why is it important to talk to the sellers about the buyers? 10 of 11 Mark gets a home loan and the lender will charge him 3 points at closing. C. Tell the sellers you expect an offer to be coming soon. D. Once the offer or counteroffer is accepted and the offeror has been notified, a legal contract is formed. 4- What is the agreement that a broker can enter into with a buyer? Better yet, try to avoid deal breakers. California: Real Estate Practice Ch3 Quiz with no answers. Which one is illegal in many states? 3 of 10 Which paragraph of the purchase agreement states that if the buyer defaults after acceptance, he or she may be liable for the brokers commission? D. Allows viewing access to strangers. Recommend a counteroffer back to list price. 8 of 10 Proof of ownership of a property is called: 9 of 10 Who is responsible for ordering the preliminary title report? 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. Which is true? What kinds of things should he be looking for? 39 of 50 Prospects Mike and Marge arrive with agent Elaine at a showing. The interest rate will increase gradually over time. 1 of 12 California law requires that a licensee acting as a loan broker keep the Mortgage Loan Disclosure Statement on file for how long? 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. 100 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. 2. 6- What items can an owner of an income-producing property deduct that an owner of a personal residence cannot? 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. D. Hold it with the buyers permission until the contract is accepted. Who makes the payments to a claimant from the Guaranty Fund? 24 of 50 Tim thinks his buyers are ready to make an offer. Display lots of family photos to impress potential buyers. 10- Which of the following prospecting techniques do you have to use carefully because it has tended to upset people in recent years? 4 of 10 Which of the following is NOT a condition of the safe harbor test? 103- Kirk and Sandy obtained a wraparound mortgage. buyer randy makes an offer to purchasei miss you text art copy and paste. $6,740 A. Youll know how much house they can afford. D. Must start out as a part-time employee. B. A. A. Pellentesque dapibus efficitur laoreet. Sending cards and newsletters is a good way to keep in contact with clients and prospects. 8- Which section of the purchase agreement does not apply directly to the buyers and sellers? Rate of return is computed by dividing the annual net income by the rate of return. D. Goals must be realistic if you hope to accomplish them. AnnualinspectioncostsAnnualcostofscrapmaterialsAnnualreworkcostAnnualcostofqualitytrainingAnnualwarrantycostAnnualtestingcost$155,000286,00034,679456,0001,546,000543,000. D. Visiting a neighborhood with a co-worker could make you feel more comfortable. Supervises the Truth in Lending Act. A religious organization providing housing to members only, C. The sale of a single-family home by an owner who owns five residences, D. Rental of a unit in an owner-occupied four-family flat. C. Pam should recommend that they counteroffer with a price halfway between asking and offering price. 40- Which of the following phrases should Salesperson Brenda avoid when writing an advertisement for one of her listings? What is the major difference between an employee and an independent contractor? 3- How could refinancing be an investment benefit? You can make a Best Offer on listings that have a Make Offer button. What must Tim do? Tell the buyer about the other offer and urge the buyer to skip the attorney. 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. 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? 3 of 10 Which of the following would be an example of a licensee specializing in business type? 35 of 50 Agent John just listed a home in a mid-range priced neighborhood. Mortgage brokers do not lend money. 11- What is a public report and when must it be provided? A buyer mails an offer to an out-of-town seller. Is depreciation accounted for by a hospital? 50- Harry has some buyers that he believes are ready to make an offer. Discourage Sam from accepting an offer so far below Sam's asking price. California: Real Estate Practice Ch7 Quiz with no answers. Present the higher-priced offer first. What would be determined by a location survey? Ask the buyer if the buyer would like to make an offer taking the roof age into account. The loan value is based on the appraised value, not the sale price. What is Gregs capital gain on the apartment? C. Find a lender who is willing to do FHA loans. 33- Which statement is true about a loan that has a negative amortization? Bob should not have presented the offer after the property was under contract to another buyer. 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? If Broker Tom procures a buyer for Jack, Tom will get the commission and Alice will not. First, determine the amount by which the first $40,000 is reduced; $40,000 x 0.05 = $2,000 (100% - 95% = 5% not covered). Could be a violation of state licensing laws. 16- Dave and Nadine have decided that they want to become property investors. A. Kirk doesnt have the right to withdraw the offer so soon. Rule E-1 Buyer Norm just signed a purchase contract with licensee Pat. California: Real Estate Practice Ch11 Quiz with no answers. Hes no longer interested in seeing the inside and Marge agrees. B. The buyers family is pressuring them to purchase this home. B. Five current listings three recently sold and two expired, C. A minimum of three properties in the recently sold category. D. Amanda smiles at Jim when she sees the whirlpool tub. D. Kirks offer to Larry is legally cancelled. B. Pam is not liable since it was summer and the heating problem was not obvious. 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? 3- When preparing a competitive market analysis, what categories of homes should an agent research? The buyer was responsible for making the discovery, so Pam is therefore liable. C. Have keys made for company listings. Gross income must be based on production. B. B. Its easier to prioritize your tasks if your goals are in writing. A. 19 of 50 When doing a competitive market analysis, the recently sold properties you include should have sold within what timeframe? He sold the home for $750,000 and paid $50,000 in selling expenses, including the brokers commission. D. Arrange to meet the prospect at your office. 12- The second installment of property taxes comes due on: 13- Seller Jim tells his agent Branda that he does not want his home marketed to families with children. A. 2 of 10 Developing a prospecting plan is similar to: 3 of 10 Which of the following is not a legal notice that can provide a listing lead? 3 of 10 What kind of ad usually combines both institutional and product advertising? Suggest to the sellers that their listing price is too high. The purchase price, plus improvements, C. The fair market value at the time of sale. The seller must file a bill of sale with the county clerk. 1- What is important to know about unlicensed real estate assistants? Licensee Pat was in transit to the cooperating licensee's office with the offer. 42- Alice is planning her career and setting her goals. D. The casement windows have broken seals. ", Which of the following rules deals with specific actions regarding the requirements for handling earnest money deposits? Other than residential list three kinds of property in the real estate market. is 0.4. 57- Under federal income tax law, the basis for a personal residence is which of the following: A. The Haleys want to get a mortgage that will cover the purchase price plus all the furnishings. C. It must specify a definite termination date. A. Ask questions of the prospects children. Deposit the check into his trust fund account on the next business day. 6 of 10 Which of the following is not an item that a buyer usually pays at closing? Negotiate agreements regarding commission structuring. What kinds of things should he be looking for? D. Broker Gina puts $150 into her trust account. For purposes of federal income tax, which statement is true? 1. C. They can make payments directly to the original lender. Which of the following statements is not true? Which of the following is Kirk himself not likely to do during the application process? The escrow holder will use the purchase agreement as the basis for writing the escrow instructions. 28- Abby applies for a federally-related loan to purchase a home. 5- What does the safety clause in the listing agreement do? Randy and his real estate agent, Bob, enter into a listing agreement whereby Bob may list Randy's property but Randy may also try to find a buyer Bob finds Clarice, a buyer who has enough cash to purchase the property and would like to purchase the property today. Hes very comfortable selling that type of property and knows he can work well with clients in that area. A. If an item is already correct, write C on the line provided. 4- Agent Greg receives a call about one of his firms ads. He sounds really excited about this property. 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? A. Make sure all required disclosures have been done. 9 of 50 Which of the following is a credit to the seller on the settlement statement? What is the primary criticism that sellers have about their agents? 7 of 10 Which of the following is not a national real estate trade organization? D. Supply cannot be moved to a high demand area. C. Insurance agents dealing with customers. California: Real Estate Practice Ch12 Quiz with no answers. 1 of 10 When you receive an offer on a listing for less than asking price, you should not: A. B. Pleases the sellers by inv=creasing activity. C. Real estate can respond quickly to changes in the market. The borrowers family in case of his or her death, B. A rental property has a return rate of 8%. 48- The public report that a developer must provide when offering subdivided lands for sale is provided by which agency? What is the body of law that governs negotiable instruments? Rob, a salesperson, tells a buyer that the location of the electric meter on a house is up to the buyer. Local ordinance requires a 20-foot rear and front setback. California: Real Estate Practice Chapter 15 Quiz with no answers. How are properties affected by the local economy? A. 4 of 10 RESPA gives the buyer the right to review the completed closing disclosure how long before closing? 101- Which type of loan typically carries the most loan points? Seeking listings C. Seeking both buyers and sellers D. Seeking buyers for others agents' listings

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