Anasayfa; Hakkmzda. Broker Alice holds an uncashed check until the offer is accepted. C. How much time the licensees must spend in the office. There are several successful agents at Johns office. B. Rewrite whole paragraphs to ensure clarity. Two weeks before the close of seller Jan's property, buyer Sam makes an offer. D. Magazine ads are significantly more expensive than newspaper ads. 8- What actions does a lender take to sell a mortgage in the secondary market? Fusce, Explore over 16 million step-by-step answers from our library, acinia pulvinar tortor nec facilisis. At the time the agreement is signed. yellowbrick scholarship reviews. The listing agent must provide the disclosure to the seller prior to securing the listing agreement. 2- List the three Institute of Real Estate Management property management designations. 1- What is an important thing to remember about listing agreements? 5- Define the term loan-to-value ratio. Go back to the buyer's agent and try to get the offer higher. 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. A. 100 Which of the following statements is not true? D. I will complete a property management seminar within the next year. 12. Return the earnest money to buyer Norm. Ask the caller if he or she would like to receive e-mails on newly listed properties. A. A. Jake is getting a VA loan with no down payment. C. Deposit into the brokerage business account. Tell Linda that the sellers will be very disappointed if they cancel the appointment. She can do all of the following except which? AnnualinspectioncostsAnnualcostofscrapmaterialsAnnualreworkcostAnnualcostofqualitytrainingAnnualwarrantycostAnnualtestingcost$155,000286,00034,679456,0001,546,000543,000. D. Must start out as a part-time employee. A. Wills weekly report indicates two showings and five inquiries for the week. The buyer was responsible for making the discovery, so Pam is therefore liable. A. Executor Fred calls Agent Tom to list a vacant tract of land, instructing him to list the land for $700,000. A. B. 2- Who needs title insurance and why? Has New Age violated any laws? Buyer Randy makes an offer to purchase one of Broker Tom's D. The owner has 45 days to file a change in ownership statement. What should you keep in mind when developing your marketing plans? 37 of 50 Which of the following economic characteristics is true? Rob, a salesperson, tells a buyer that the location of the electric meter on a house is up to the buyer. buyer randy makes an offer to purchase B. The following table lists all costs of quality incurred by Sam's Surf Shop last year. Give the sellers a copy of some homeowners tips. If the lot measures 100' x 200', which is the total allowable square footage of a single story building? 7- What happens if the parties do not initial the section of dispute resolution that deals with binding arbitration? What is the major difference between an employee and an independent contractor? 1. 23 of 50 Which of the following statements best describes what happens in a mortgage loan transaction? B. California: Real Estate Practice Chapter 14 Quiz with no answers. Mary writes a letter rescinding her offer and hand delivers it to Sam Sunday night. 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? Answer: C- Ask the buyer if the buyer would like to make an offer taking the roof age into account. Free Purchase Agreement | PDF & Word | Legal Templates 1 of 10 Gail is a licensed real estate assistant. B. He paid $100,000 for it, and made $300,000 worth of improvements. Offer to Purchase Form - Fill Out and Sign Printable PDF Template | signNow A counteroffer by a seller to a buyer turns the seller from offeree to offeror. Then present the $208,000 offer. 4 of 10 Which of the following is NOT a condition of the safe harbor test? 67- Hannah is a real estate assistant. 73- Which of these is not a buying signal? 6- What is important for the sellers to know about a counteroffer? Establish a homes fair market value. 8. 6 of 50 Broker Tami has a very low advertising budget. 1- When is an agency relationship created? Bob cannot do anything; it is out of his hands. 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. 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? Rule F-1. Sunday afternoon, Mary is driving around and finds a property she likes better. C. The court has ordered the transfer of Sally Greens home to her friend Penny Jacobs as part of the settlement of Sallys estate. What kind of closing technique is Jim using? What would we call Hannah? buyer randy makes an offer to purchase - 740alvarado.com 6 of 12 The maximum commission amount a mortgage loan broker can charge on a second mortgage loan of 3 years for $18,000 is what? How much do you have in your savings account? 1 of 10 All of the following are good newspaper sections to read for prospecting except which? Use as little white space as possible. mejores programas bases de datos. A. 11 of 50 Jake and Janet are required to pay 4 points on the $80,000 loan they are getting. If checked, the seller can complete repairs after closing. Next, determine the remainder of the loan; $185,000 - $40,000 = $145,000. C. The lender gives the borrower a mortgage and funds. 3- What signals do buyers use to indicate they may be willing to make a purchase? B. 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? Now, calculate the origination fee; $168,500 x 0.02 = $3,370. A. 9 of 10 Agent Paul is bound to inform his client of all facts that might affect the clients interests both what Paul knows and what he should have known. Which of these situations would not be something Paul should know? The borrower gives the lender a note and a mortgage in exchange for the funds. 20 of 50 Seller Patsy wants to net $150,000 from the sale of her home. D. Allows viewing access to strangers. C. Real Estate Settlement and Procedures Act. California: Real Estate Practice Ch4 Quiz with no answers, answers will be revealed with proper subscription. Buyers looking at FSBO homes are usually looking for a bargain. C. Tangible assets transferred in the sale include inventory, fixtures and equipment. D. Lends good visual support to what the agent is saying. 9 of 10 How can a seller lessen the tax impact of selling a home for enough profit that he or she will be boosted to a much higher tax bracket? 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. What is important to remember about capturing the readers attention? Which is true? Sets a limit on the commission a broker can earn. D. Employee status versus independent contractor status is an IRS issue. B. Brenda has violated the fiduciary duty of obedience to Jim. 58- Mortgage lenders are prohibited from discriminating in giving credit to prospective borrowers based on race, color, religion, national origin, sex, marital status, age or dependency on public assistance under which law or regulation? Underline each word that should be capitalized in the following items. C. Alice is getting a conventional loan and making a 15% down payment. 40- Which of the following phrases should Salesperson Brenda avoid when writing an advertisement for one of her listings? 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? D. The casement windows have broken seals. B. Alice knows everything about the exclusive east side neighborhoods. The HUD-1 Uniform Settlement Statement, required by RESPA, must be used in what instance? Give as much detailed information about the property as you can. He made $150,000 of improvements during the three years he lived in it before he sold it. A. 6- What is the main reason sellers choose to sell their property without an agents help? 1- How much is the loan origination fee and what does it cover? A. How to make a Best Offer. C. FSBO sellers who list with an agent will pay their own advertising costs. B. Who makes the payments to a claimant from the Guaranty Fund? Protect Your Family From Lead In Your Home, C. The Homeowners Guide to Earthquake Safety, D. Consumer Guide to Disclosure for Buyers. The value of the property the borrower wants to purchase, D. The neighborhood in which the property is located. buyer randy makes an offer to purchase - ftp.ivnowandzen.com The purchase price, plus improvements, C. The fair market value at the time of sale. View an objection as the buyers request for more information. 7- What does the paragraph in the listing agreement titled Entire Contract deal with? 13 of 50 What is the most common reason that owners try to sell their homes themselves? What kind of lease does Jim have? A. Greg Burns is selling his interest in his home to his wife Melanie as part of their divorce settlement. In addition to agent and MLS home tours, what are some other ancillary tools you can use? Supervises the Truth in Lending Act. D. Recommend that the seller delay response to make the buyer nervous and then submit a counteroffer. 6- When is a lender required to terminate a borrowers private mortgage insurance? The broker will not provide any. Jim and Jane financed the remaining $25,000 through the seller. Checking your browser. On what amount will he pay capital gains tax? 43 Offer To Purchase Real Estate Templates (& Letters) They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. 8- What is the major difference between a CalVet loan and other loans? 8- What does the Water Heater Statement of Compliance address? 4 of 10 A totally disabled veteran could be eligible for a property tax exemption of up to what amount? Give the prospects a black copy of a purchase agreement to look over. A buyer applies for a loan that is neither insured nor guaranteed by a government agency. 2- When establishing rapport, whats one of the best ways to get to know your buyers? A. Tell the sellers exactly how she feels and why she thinks the offer is not a good one. 3- What is the major difference between an exclusive-authorization-and-right-to-sell listing and an exclusive-agency listing? He asks his real estate agent if she could tell him how to go about building a house on the land. The sales agent should: Write a counteroffer stipulating the sellers' request. When you meet with your sellers after you obtain the listing, what is one of the first things you should share with them to get them involved in the process? How are properties affected by the local economy? A. Deposit the check into his trust fund account on the next business day. A. 10 of 10 All of these activities are appropriate to do within the first few days of obtaining a listing except which? 38 of 50 What is the primary role of Fannie Mae? Now you have the numbers to plug into the loss formula; Percent of Loss = Loss / Cost or $13,990 / $153,890 = 0.0909. C. Give the tenant a 3-day notice to pay or quit. You can make a Best Offer on listings that have a Make Offer button. B. I will do two practice listing presentations per week with an experienced agent for the next two months. Encourage the buyer to get the attorney to review it quickly. B. Studying population trends in the area. Present the $208,000 offer today and wait for a response from the sellers before he presents the other offer. D. Broker Gina puts $150 into her trust account. In this scenario, which of the following is not true? The loan value is based on the appraised value, not the sale price. 24 of 50 Tim thinks his buyers are ready to make an offer. 2 of 10 When presenting information about the buyers to the sellers, which piece of information might not be useful in helping the sellers make a decision? Nam lacinia pulvinar tortor nec facilisis. 50 of 50 Eric is acting as a disclosed dual agent in a transaction. Most likely, what did they get? 7- In the initial meetings with the prospects, the agent should do all of the following except which? Finally, add the origination fee and points together to calculate the buyer's total cost; $3,370 + $3,370 = $6,740. 1- The amount that a seller takes away from a sale is termed: 2- Which of the following best describes prospecting? She doesnt need a license to perform many activities at the firm, but which of the following would require her to have a license? 4- What is a good method for estimating what a seller will net from the sale of the property? B. What law creates an automatic lien on a commercial property, subject to the listing agreement? 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. Course Hero is not sponsored or endorsed by any college or university. 1 of 10 Broker Alice has hired several independent contractors in her firm. D. Hold both offers because he heard that a full-price offer is on its way. He says to them, "Would you prefer to take possession on September 1 or October 1?" Hometown received $2400.00 in referrals. 5 of 10 The principles of an agency relationship include all of these factors except which one? 3- What is the difference between CLTA and ALTA policies? C. Knocking on doors never requires special permits. chris kelly rock 92 net worth. 7- What makes up a mortgage? Example ______ 1. east of the mississippiriver\underline{\text{mississippi river}}mississippiriver. D. Discrimination on the basis of race is strictly prohibited, meaning no exceptions whatsoever. 5. Find a home that meets FHA requirements. Here are the steps to follow to make an offer to purchase: Step 1. If something truly is a deal breaker and a line in the sand for you, that is fine, but stick to it. D. Written escrow instructions must include a statement with the brokers name, indicating he or she is a licensed real estate agent. Which would NOT result from the exercise of police power? B. 8- When does a purchase offer become a legal contract? How to Write a Purchase Agreement? A. 1 of 10 All of the following are good approaches for handling objections except which?