buyer randy makes an offer to purchase

Present the higher-priced offer first. A. 9 of 10 Janet is an unlicensed assistant. 1- How much is the loan origination fee and what does it cover? 8- When does a purchase offer become a legal contract? 3 of 10 The IREM designation reserved for individuals who meet a certain level of education and experience is: 4 of 10 When setting up a rent schedule, a property manager should analyze all but which of the following? Each of their payments is for the same amount. 10- What is the right to rescind and what is not covered by this rule? How long does he have to file a complaint with the Department of Housing and Urban Development? B. 5 of 10 When all members have unlimited liability for debts and obligations of the group, the organization is a: 6 of 10 What is the foremost reason people invest in property? university of missouri hospital salaries 2021; port orange arrests today. C. Sellers are apt to choose qualified buyers over ones who have not been qualified. A. Brenda must follow all of Jims instructions. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. California: Real Estate Practice Ch4 Quiz with no answers, answers will be revealed with proper subscription. A. C. Payments will not be enough to retire the loan. B. D. Call the sellers immediately and let them know you wont be coming by. D. Tell the sellers its time to reevaluate the price. Which of these statements is true about the wraparound mortgage? Amanda loves the home and wants to make an offer. 1 of 50 Which of the following newspaper information is not helpful in developing a Prospecting Plan? 1 of 10 All of the following are good newspaper sections to read for prospecting except which? 4- What are the major areas of newspaper leads? What kind of mortgage might they get? D. Broker Gina puts $150 into her trust account. B. Brenda refuses. 7 of 10 If a broker receives a deposit check with a purchase contract, which of these is he not allowed to do? 3- What is the major difference between an exclusive-authorization-and-right-to-sell listing and an exclusive-agency listing? What is the body of law that governs negotiable instruments? California: Real Estate Practice Ch3 Quiz with no answers. D. Exclusive-authorization-and-right-to-sell agreement. What should Elaine do? 8 of 10 Which disclosure is required by the Real Estate Settlement Procedures Act? Gives the names of lawyers who might require property assistance. A. Jim specializes in clients who want to buy restaurants. Three days later, the agent shows the property; at that time the customer reveals her financial abilities and motivation. Copyright - CaliforniaRealEstateExamAnswers.com - 2023 -, >Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. It helps to identify buyer and seller needs. The term of the loan can be shortened. Attend weekly staff meetings at the office. C. Maintaining the office filing system. B. A. A. She discovers that the more time passes, the more she feels frustrated by the seller's lack of cooperation. A. The ordinance also requires a 10-foot side set back. A. B. What would be determined by a location survey? A. Wills weekly report indicates two showings and five inquiries for the week. 27 of 50 Tim and Sue have obtained a buydown loan on their newly built home. Encourage Sam to make a counteroffer at 2% below Sam's asking price. 2- When establishing rapport, whats one of the best ways to get to know your buyers? Which of the following would be considered an intermediate goal? She thinks they are really interested in one particular property, but when she approaches them about it, the buyer says, The price is too high. What would be a good response to that comment? A. 6 of 10 Which of the following statements is not true? Loan terms are from 15 to 25 years. A. Bob Broker knows that another offer will be coming in at about the same time. Display lots of family photos to impress potential buyers. The escrow holder will use the purchase agreement as the basis for writing the escrow instructions. D. All adjustable rate mortgages have negative amortization. D. Once the offer or counteroffer is accepted and the offeror has been notified, a legal contract is formed. Other than residential list three kinds of property in the real estate market. B. 62- When agent Hal shows a home he should never: A. 4 of 10 Which is true of an exclusive-authorization-to-acquire-property agreement? Seeking buyers for your listings B. 10 of 10 Which of these individuals could not act as an escrow agent without an escrow license? D. Tim and Gail have qualified for an FHA loan. 1- What is important to know about unlicensed real estate assistants? D. Must start out as a part-time employee. B. 1 of 10 What kind of lease contains a recapture clause? The fees that Eric charges Paul for making the loan could be any but which of the following amounts? B. 8 of 10 When is the first installment of property taxes due? A. buyer randy makes an offer to purchase. C. Neither Sarah nor Ken can get employer-provided health insurance. A. 5. Give housing choices to the widest range of people. B. Salesperson Julie can receive her commission from the cooperating broker in her latest transaction. D. Broker Tom has only limited responsibility for the actions of his licensees. C. Broker Harry deposits $1000 into his brokerage business account. 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. 4- What is the agreement that a broker can enter into with a buyer? 1 of 10 What form can an agent use to show a seller what he or she will net on the sale of the property? B. 11- Greg and Joyce purchased a home from the builder who offered to pay $5,000 at closing as an incentive to get them to buy. 10 of 10 All of these activities are appropriate to do within the first few days of obtaining a listing except which? Find things in the home a seller needs to repair. This form is the first step in any real estate deal. 41- Agricultural land includes all of the following EXCEPT which? B. Its easier to prioritize your tasks if your goals are in writing. He made $150,000 of improvements during the three years he lived in it before he sold it. cross elasticity of demand for train rides with respect to the price of a plane ride 8- What is an important issue for potential buyer clients to understand? Not waste anymore time on this house, the buyer will never make an offer. 6- How does a limited partnership differ from a general partnership? For purposes of federal income tax, which statement is true? buyer randy makes an offer to purchase buyer randy makes an offer to purchase. Broker Bob has a buyer who has seen a property twice and seems ready to make an offer. Documents showing your affiliations with real estate organizations. 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? 4- What is a good method for estimating what a seller will net from the sale of the property? B. 10 of 10 Which of the following statements is not true about a net listing? Answer: B- Encourage the buyer to get the attorney to review it quickly. Retain the check for use with a future sales contract offer. D. The advertiser must prove he was grandfathered in as a licensee. A. Go back to the buyer's agent and try to get the offer higher. 45- Kirk wants to get an FHA loan. B. 45 of 50 What is the Federal Housing Administrations primary role in the mortgage market? 4- Why is coordinating escrow so important and how can an assistant help? Prior to bringing an offer to purchase. 8- Why should agent Grace give her client a Combined Hazards Book? 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. C. Refuse to accept the offer and check. 1. What will they have to pay the lender? 4- What items are not covered by any title insurance policy? Which of the these activities does she have control over? C. A broker is not responsible for the acts of independent contractors. Which of these forms of advertising is she most likely to avoid? C. Explain your marketing plan to the sellers. What law creates an automatic lien on a commercial property, subject to the listing agreement? B. Authors Channel Summit. A. Answer: B- Licensee Fred should take the offer to the seller and determine if the escrow deposit is acceptable. Ask questions of the prospects children. 73- Which of these is not a buying signal? Buyers looking at FSBO homes are usually looking for a bargain. Sam has insisted on pricing his home 10% higher than Bob's CMA recommended. A. Lead-based paint was used in the home. How much do you have in your savings account? If Broker Tom procures a buyer for Jack, Tom will get the commission and Alice will not. 5 of 10 Which of the following would not be a reason to choose to be an assistant? Real Estate Transfer Disclosure Statement, C. Natural Hazard Disclosure Statement. 55- Greg is approved for a Cal-Vet loan. A basis of $145,000 and a taxable gain of $3,000, C. A basis of $130,000 and a table gain of $18,000. 9- What is the basic purpose of Truth in Lending Regulation Z? A. A. C. I will get three new listings this month. D. Buyer indemnity and seller protection. Rule 21 A. Mike has changed jobs six times in the past six months. What kind of mortgage might they get? 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? California: Real Estate Practice Chapter 17 Quiz with no answers. Which statement is true? Mortgage bankers bring borrowers and lenders together. California: Real Estate Practice Sample of Final Course Exam. Answer: D- Return the money to buyer Norm. The sales agent should: Write a counteroffer stipulating the sellers' request At time of license renewal, what is the renewal charge for a salespersons license? 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. B. Discourage Sam from accepting an offer so far below Sam's asking price. A. 104- Lorna and Hal have obtained a growing equity mortgage for their new home. 3- What is a good approach to use when contacting the owner of an expired listing? Which of the following statements is true? 2- What kind of problem can result from a straight loan? 8- What does the Water Heater Statement of Compliance address? C. Theyre probably paying a higher interest rate on the second mortgage. Understanding the kind of responses your advertising generates, D. Being able to anticipate the callers requirements. A. California: Real Estate Practice Ch5 Quiz with no answers. B. 3 of 10 How long must trust account records be kept? A counteroffer represents a rejection of an offer. 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.. Gross income must be based on production. Which is a true statement? 88- Sally and Dan must pay 2 points on their new $65,000 loan. When Bill pulls in front of the home, Linda decides immediately that she doesnt want to see the inside. 76- Mark believes he has been discriminated against during his home search. Broker John puts $500 into his trust account. D. Exert pressure on the sellers to include something the other party wants. The escrow holder will need information about the brokers commission. He pays rent for occupancy, plus maintenance and operating expenses. yellowbrick scholarship reviews. 33 of 50 Sal bought a personal residence for $150,000. The lender must furnish a copy of the CFPB booklet to Abby no later than the third business day from which date? 4- Agent Greg receives a call about one of his firms ads. The price of a plane ride rises by 10 percent. 1- What is a competitive market analysis? Buyer Norm called and rescinded the offer. D. John expects his agents to spend 5 hours a week on unsupervised telephone duty. D. Preparing flyers and promotional materials for the brokers approval. C. Jim and Amanda whisper and frown when they see the basement. The definition of race was expanded to include ancestry. D. Recommend that the seller delay response to make the buyer nervous and then submit a counteroffer. 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? They made $50,000 of improvements. Nam lacinia pulvinar tortor nec facilisis. What is Gregs capital gain on the apartment? What should Alice do? Answer: C- 10% of the sales contract offer, What is the suggested response when a buyer asks "Do you think the seller will come down on the price?" Executor Fred calls Agent Tom to list a vacant tract of land, instructing him to list the land for $700,000. She is probably using all but which of the following tools? A broker cannot use the word escrow in a fictitious name. C. Once filed, it remains until terminated. How are properties affected by the local economy? 9- Define a purchase money mortgage. 8 of 12 Fannie Mae does all of the following activities except which? What should Jake do? D. Administers special assistance programs. C. Date and attach supporting documents. Amanda loves the home and wants to make an offer. Jim has decided that he will learn all he can about the new subdivisions at the west end of town. Tell Linda that the sellers will be very disappointed if they cancel the appointment. 2- What is floor time and why is it important? 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. 8- When considering making a loan to a borrower, which of the following factors would probably exert the least amount of influence on the lender? 7- What are the capital gains exclusions associated with the sale of a personal residence? Step 2. A. 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? Which of the following is Kirk himself not likely to do during the application process? 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. Why is it important for licensees to understand the Americans with Disabilities Act? B. View an objection as the buyers request for more information. 4 of 10 Which of these is not an important aspect of selling? 3- In what three ways can an assistant aid an agent with appointments? Needs a license to perform activities that are not strictly administrative in nature. C. Participation in the MLS increases a licensees inventory. 7 of 10 How might probate information help in prospecting? Local ordinance requires a 20-foot rear and front setback. However, he is objecting because the roof is 12 years old. How long must a broker be licensed in order to apply for a temporary broker's license? 7 of 50 Glenna and Amanda just bought their first home. 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. D. Send the weekly report as usual, emphasizing what your upcoming plans are for the week.

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