8- When studying the characteristics of an area in which an investment property is located, what factors should the investor look at carefully? Enter your offer. D. The buyers love the landscaping improvements the sellers have made. Retired persons are a good source of neighborhood information. they are effectively terminating the original offer. 7- What is the difference between an FHA loan and a VA loan? 3- Differentiate between mortgage brokers and mortgage bankers. Nam lacinia pulvinar tortor nec facilisis. 88- Sally and Dan must pay 2 points on their new $65,000 loan. This type of action might be viewed as: Buyer Frank has just signed a sales contract for a 2 million dollar property. Study the other terms of the offer so that you can maximize the offers benefits and minimize the lower price. Encourage the buyer to get the attorney to review it quickly. 10 of 10 Assistants who are hired to work part time: C. Usually get a percentage of the commission in addition to a salary. The original loan becomes subordinate to the wraparound. B. 53- Greg sold an apartment building he owned for 20 years. C. The buyers are interested in another property. 1 of 10 What kind of lease contains a recapture clause? B. 4. A counteroffer by a seller to a buyer turns the seller from offeree to offeror. 1- What is escrow? What kinds of things should he be looking for? He refuses to rent the other unit to families with children. cross elasticity of demand for train rides with respect to the price of a plane ride 87- What information can you gather from the newspaper to help develop a Prospecting Plan? 19 of 50 When doing a competitive market analysis, the recently sold properties you include should have sold within what timeframe? Nam risus ante, dapibus a molestie consequat, ultrices ac magna. 9. 7- What does the net operating income of a property represent? A. Generates leads for new listings. 2- What is floor time and why is it important? 3- In what three ways can an assistant aid an agent with appointments? 3- How could refinancing be an investment benefit? To learn more about the real estate business, D. To make more money than a real estate agent. 99- All exclusive listing agreements must have, C. A list of personal property included in the sale. They will owe a balloon payment at the end of the loan term. 1- What is a competitive market analysis? D. Purchasing loans from primary lenders. C. Accept commissions from referral agents. A. What is the key feature of this type of loan? C. Recommend a counteroffer back to list price. 7- What makes up a mortgage? 4- What do Fannie Mae and Ginnie Mae do that Freddie Mac does not? kennesaw state football depth chart; 2022617 buyer randy makes an offer to purchase A. Give the prospects a black copy of a purchase agreement to look over. 73- Which of these is not a buying signal? Has Bob acted properly? Fill out a separate, numbered counteroffer form. $5,600 every year, with no increase, C. $5,750 the first year, plus a maximum 2% increase in market value per year, D. $5,750, plus a maximum 1% increase in market value per year. B. 10 of 10 Which of these Internet pages might be of particular interest to sellers? A. 3 of 10 What kind of ad usually combines both institutional and product advertising? B. buyer randy makes an offer to purchase. Goodwill is an intangible asset that results from the reputation of the business. C. An offer or counteroffer can be withdrawn at any time before it has been accepted. The advertiser can be sentenced to up to a year in prison. C. Sharing all visitor comments two weeks before the listing ends. Local ordinance requires a 20-foot rear and front setback. At the end of the term, the loan balance will be negative. 4- Describe a reverse annuity mortgage. 11- What are the penalties for violating Regulation Z? C. There is a 6-month pre-payment penalty for paying off the loan early. 10- What is the right to rescind and what is not covered by this rule? The home comes equipped with all furnishings. Installation of central air conditioning, D. Addition of a tenant laundry facility. 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? 10 of 10 Agent Jim tells his buyers that the seller will leave the riding lawn mower if the buyers make an offer now. B. Next, determine the amount to apply toward the loan origination fee and discount points; $185,000 - $2,000 - $14,500 = $168,500. 5 of 50 Jane has been working with some buyers for several weeks. 5- What is the Closing Disclosure? C. The lender gives the borrower a mortgage and funds. A buyer has obtained a mortgage in which the LTV is 95% of the first $40,000 of the sale price and 90% of the remainder of the sale price. 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. : disclose the material relationship with the buyer on the dual agency disclosure, A man and woman sign a purchase contract, which is subsequently approved and signed by the seller. \text { Annual cost of scrap materials } & 286,000 \\ 3- What is the difference between CLTA and ALTA policies? Her property taxes would be assessed at: 79- Tom and Mary want to purchase their first home. D. The UCC is a body of law that standardizes a number of business practices. B. There is a crack in the basement wall. B. A real estate investment business organized as a trust best describes a(n), Chapter 9 - Cellular Respiration and Fermenta, flash card for the first 25 math question, Operations Management: Sustainability and Supply Chain Management, Alexander Holmes, Barbara Illowsky, Susan Dean, Calculus for Business, Economics, Life Sciences and Social Sciences, Karl E. Byleen, Michael R. Ziegler, Michae Ziegler, Raymond A. Barnett, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. 41 of 50 What was the important ruling in Jones v. Mayer? 4 of 10 Once an offer has been accepted, the agent should do all of the following except which? 2- What kind of problem can result from a straight loan? Encourage Sam to make a counteroffer at 2% below Sam's asking price. Supervises the Truth in Lending Act. A. A broker might need to change the layout of the office to make the aisles wider for clients in wheelchairs. An apartment building for a vacant lot, B. During this interim period, grant makes monthly rent payments and the owner accepts them. What does that mean? 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? 9% 7 of 10 Which document shows the assets and liabilities of a business? D. All adjustable rate mortgages have negative amortization. B. 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. Annualinspectioncosts$155,000Annualcostofscrapmaterials286,000Annualreworkcost34,679Annualcostofqualitytraining456,000Annualwarrantycost1,546,000Annualtestingcost543,000\begin{array}{lr} fairbanks ice dogs standings . Which of the following is Kirk himself not likely to do during the application process? 8 of 10 Which of these is a free form of advertising? C. Moving closer to the agent to get a better look. 7 of 10 Which kind of advertising aims at increasing sales by informing the public of a companys capabilities? It took effect when Sam accepted Mary's offer. Which statement is true? 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? A. Given the rise in the price of a plane ride, what percentage change in the price I do not know (who\underline{\text{who}}who, whom) the guest speaker will be. CSP-Conlutas Central Sindical e Popular . D. The first and second mortgage will be rolled into one. B. "No, you may lose the house." A net listing is illegal in all states. 8 of 10 What does the paragraph on repairs state? C. Participation in the MLS increases a licensees inventory. 5 of 10 Which of the following is not a source of information for professional ethics codes? 1- What is an important thing to remember about listing agreements? D. Allows a broker to have as a commission anything above the minimum the seller sets. 3- In what three ways can an assistant aid an agent with appointments? B. 96- Which statement is not true about a listing contract? 3- What is a good approach to use when contacting the owner of an expired listing? A. What is this agreement called? Harry has some buyers that he believes are ready to make an offer. 3 of 12 All of the following are primary mortgage market lenders except which? This term typically refers to. 10- Which of the following prospecting techniques do you have to use carefully because it has tended to upset people in recent years? The purchase price, plus improvements 9 of 10 A shopping center would be primarily categorized as what type of property? Two months later she purchased and moved into a new home that cost $145,000. A borrower cannot qualify for a conventional loan unless he or she can make a 20% down payment. Checking your browser. D. Goals must be realistic if you hope to accomplish them. Minimize expenses while maximizing profits for the owner. D. Their loan payments will gradually increase. California: Real Estate Practice Ch7 Quiz with no answers. 7- Name three benefits of listing a home with an agent that you could share with sellers. 29- Which of the following is not a good direct mail technique? 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? B. 7. C. A broker is not responsible for the acts of independent contractors. A. Forwarding calls from the public to one of the salespersons in the office. 1 of 10 All of the following are good approaches for handling objections except which? Underline the correct pronoun in parentheses in the following sentence. 1- What is an important thing to remember about listing agreements? C. The seller did not disclose the problem on a sellers disclosure form so Pam is off the hook. Rule F-1. 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. What should Bob advise Sam? 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? Sam has insisted on pricing his home 10% higher than Bob's CMA recommended. 9 of 10 Janet is an unlicensed assistant. A. sam neill laura tingle split What kind of closing technique is Harry using? 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? What should a licensees written employment agreement contain? B. 6 of 10 How often can a tenant call his or her own professional to make repairs and then deduct the amount from the next months rent? 5 of 10 All of these would be effective at capturing a readers attention except which? 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. She tells Broker Al that he can list the property for whatever price he wants and anything he gets above the $150,000 he can keep as his commission. B. 42- Alice is planning her career and setting her goals. Department of Housing and Urban Development, C. Recorders Office in the county where the land is located. 12. What should Pat do with the earnest money deposit? 1- What is a competitive market analysis? 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. A. The following table lists all costs of quality incurred by Sam's Surf Shop last year. C. Real Estate Settlement and Procedures Act. C. Consider child support payments in the decision. What kind of closing technique is Jim using? 2- Who needs title insurance and why? 9 of 10 An agent must give a copy of the listing agreement to the sellers: A. A. Greg is violating the duties he owes to his new buyer. 81- Jake has decided to specialize in working with clients who purchase schools. B. A. Present the $200,000 first and recommend rejection. C. If Bill pays off the loan early, there will be no prepayment penalty. C. Pam should recommend that they counteroffer with a price halfway between asking and offering price. D. Make the headline bold and all caps. Launch into your list of the homes special features and hope she changes her mind. D. Tim and Gail have qualified for an FHA loan. B. \end{array} What property type will he be dealing with? For purposes of federal income tax, which statement is true? A. 6 of 10 A buyer calls your office to inquire about a property he saw advertised. B. 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? B. Finally, add the origination fee and points together to calculate the buyer's total cost; $3,370 + $3,370 = $6,740. The home is listed at $210,000. 5 of 10 The principles of an agency relationship include all of these factors except which one? Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. 8 of 10 Which disclosure is required by the Real Estate Settlement Procedures Act? 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? Sam plans to overnight the acceptance on Monday. 3 of 10 How long must trust account records be kept? A. The offer with the highest price that is the most likely to close 3- For whom do property tax exemptions exist and for how much? A. Give a discount to families with children. An assistant should never be left with the task of taking photos of a new listing. C. Neither Sarah nor Ken can get employer-provided health insurance. He says to them, "Would you prefer to take possession on September 1 or October 1?" B. Jim Sharp is purchasing his fathers home. D. Avoid negative comments while hes inside the home. "Let's make a low ball offer?" B. Answer: A- Personal Check When the sellers make a counteroffer: they are accepting the original offer with changes. how to type spanish accents on chromebook keyboard; one way process of communication; 47 brand franchise fitted hats; ncaa softball coaches' salaries 2019; albert pujols home run record; C. Brenda could be liable for a breach of the listing terms. 3. 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. 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. 4 of 10 Which of the following would be the least desirable phone handling technique? A. C. I will get three new listings this month. He sold the building for $1,000,000 and paid $60,000 in commission to the broker. California: Real Estate Practice Chapter 13 Quiz with no answers. 11. 5- When must a licensee provide an agency disclosure to a prospective client? D. The owner has 45 days to file a change in ownership statement. C. It must specify a definite termination date. Name four traditional marketing tools that you should use with every listing you get. Find things in the home a seller needs to repair. 3- What is a good approach to use when contacting the owner of an expired listing? 6- Which type of leasehold estate is commonly referred to as a periodic tenancy? What kind of loan do they have? Which statement is TRUE? C. Broker Harry deposits $1000 into his brokerage business account. Step 2. What do many firms do to avoid confusion with their advertising plan? 10- Whats the difference between a lease purchase and a lease option? C. When you have 200 names in your contact database. 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. Post by; on fulgrim vs guilliman excerpt; clubhouse baseball iphone . Elaine parks across the street from the home and Mike is disappointed by what he sees. D. There is a loan protection plan included with the loan. "What would you like to offer?" Lenders are in the best position to qualify buyers. 7. 2- When establishing rapport, whats one of the best ways to get to know your buyers? C. Exclusive-authorization-and-right-to-sell agreement. He just sold it for $13,000. 7- Name three benefits of listing a home with an agent that you could share with sellers. 3 of 50 Paul is filling out the Natural Hazard Disclosure Statement. 2- What kind of problem can result from a straight loan? Anasayfa; Hakkmzda. B. This is not true of which duty? D. After the agent has had time to make copies at the office. California: Real Estate Practice Ch12 Quiz with no answers. Mary wants to make an offer on a house that is 25% lower than the asking price. buyer randy makes an offer to purchase 2 of 10 Which of these is not an AIDA characteristic? Which of these statements is true about the wraparound mortgage? 3 of 10 Jake has received two offers on one of his listings. How does ALTA-R differ from ALTA? B. What kinds of things should you include in a weekly activity report? 63- Jennys home appraised for $550,000. The appraised value is $86,500; 80% of that amount is $69,200 ($86,500 x 0.80). The loan will be distributed to them gradually. 61- Bill and Sue secured a mortgage loan that is tied to an index which fluctuates over the life of the loan. Follow the below steps to write a solid purchase agreement: Step 1 - Buyer and Seller Details. Q: Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. Three days later, the agent shows the property; at that time the customer reveals her financial abilities and motivation. C. The broker must conduct the escrow personally and not delegate any escrow activities. The property is in an area that could flood. Referral fee to a homeowners insurance agent. A. 76- Mark believes he has been discriminated against during his home search. Answer: D- They are effectively terminating the original offer.