buyer randy makes an offer to purchase

B. Pam is not liable since it was summer and the heating problem was not obvious. Offer to mail the caller a set of fliers on interesting properties. Find things in the home a seller needs to repair. The interest rate will increase gradually over time. What should Tom do? Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. B. 13 of 50 What is the most common reason that owners try to sell their homes themselves? What should Tom do? First, determine the amount by which the first $40,000 is reduced; $40,000 x 0.05 = $2,000 (100% - 95% = 5% not covered). What approach can their agent take to change the sellers perception of the offer? What should Bob do? D. After the agent has had time to make copies at the office. 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. 11- What are the penalties for violating Regulation Z? 2. A. C. FSBO sellers who list with an agent will pay their own advertising costs. C. The owner has 45 days to pay the new property taxes. A. D. Goals must be realistic if you hope to accomplish them. Bill cannot contact the seller. 5. A. 10 of 10 Agent Jim tells his buyers that the seller will leave the riding lawn mower if the buyers make an offer now. Wait until next week to send an activity report, hoping things will pick up. 5 of 10 What would be the least effective way to get to know your buyers needs? Answer: B- Encourage the buyer to get the attorney to review it quickly. Next, calculate the points charged; $168,500 x 0.02 = $3,370. D. Whether or not the licensees attend staff meetings. 12- What are grant programs typically used for? D. Make the headline bold and all caps. California Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. 2 of 10 Which of these statements is true? It was terminated when Mary delivered the recission to Sam. Covers more than one piece of property. (Who, Whom) has been selected as the team captain? A counteroffer represents a rejection of an offer. A. Agent Sally tries to match her clients with neighborhoods that have similar cultural and racial backgrounds. There is nothing that can offset this problem. This action is legal but very unprofessional. Tom thereupon submits a full-price offer to the owner and purchases the property. What would we call Hannah? On what amount will they pay capital gains tax? 5- What should a good management contract contain? Answer: D- They are effectively terminating the original offer. C. Prepare additional documentation to take to the presentation. 7 of 10 Which kind of advertising aims at increasing sales by informing the public of a companys capabilities? A. Sets a limit on the commission a broker can earn. Jim has decided to specialize in what area of real estate? "Yes, let's offer $10,000 less than the asking price. There . Mortgage bankers bring borrowers and lenders together. Checking your browser. The listing price of a house is $139,900. The appraised value is $86,500; 80% of that amount is $69,200 ($86,500 x 0.80). Her broker has asked her to be available for tasks in the field rather than in the office. Ashley should end this relationship by, : asking the seller to sign a mutual release. Please remove your shoes before entering the home. B. 31- Patrick has a written independent contractor agreement with his broker Tami. Certain homeowners may qualify for a $10,000 exemption. Answer: A- Proceed as if the buyer has decided to make an offer. 59- Which of the following is a sellers request that an agent cannot honor? Is critical to your success in real estate. Yes, there was a contract when the seller mailed the offer, If, upon receipt of an offer to purchase under certain terms, the seller makes a counteroffer, the prospective buyer is. C. Is subordinate to a first mortgage. D. Broker Gina puts $150 into her trust account. 3- When preparing a competitive market analysis, what categories of homes should an agent research? What kind of closing technique is Jim using? Next, determine the amount to apply toward the loan origination fee and discount points; $185,000 - $2,000 - $14,500 = $168,500. B. C. Brenda could be liable for a breach of the listing terms. He says to them, "Would you prefer to take possession on September 1 or October 1?" dota 2 annual revenue 2020. adam foote parents. C. The lender gives the borrower a mortgage and funds. Elaine parks across the street from the home and Mike is disappointed by what he sees. A. D. Amanda smiles at Jim when she sees the whirlpool tub. What should Bob do? C. A borrower can request the cancellation of PMI payments when the equity reaches 20% of the appraised value. The price elasticity of demand for Brenda refuses. A. 4 of 10 Once an offer has been accepted, the agent should do all of the following except which? 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. B. 7 of 10 Which of these forms is not filled out by the seller? 65- Which of the following items is usually not prorated at closing? Which of the following would be the least likely place for them to obtain a loan? 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? Be open-minded. He asks his real estate agent if she could tell him how to go about building a house on the land. D. Send the weekly report as usual, emphasizing what your upcoming plans are for the week. California: Real Estate Practice Ch3 Quiz with no answers. 12- What are grant programs typically used for? 4- Describe a reverse annuity mortgage. B. 1 of 10 Which figure represents the amount of income available as a return to an investor? 26 of 50 Veteran Bill has applied and been approved for a non-VA-guaranteed CalVet loan. Rule F-21 3- When making your presentation, what topics should you cover? B. Nam lacinia pulvinar tortor nec facilisis. Q: Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. 3- What is a good approach to use when contacting the owner of an expired listing? 2- What exception exists to the duty of obedience when working with a client? California: Real Estate Practice Chapter 14 Quiz with no answers. 8 of 10 Which California Fair Housing law provides protection from discrimination by business establishments? D. Brenda has not violated any fiduciary duty. The escrow holder will need information about the brokers commission. D. The property is in a state fire responsibility area. C. Once you set a goal you should never change it. What should Tim do next? C. Participation in the MLS increases a licensees inventory. Which is true? 7 of 50 Glenna and Amanda just bought their first home. 4 of 10 RESPA gives the buyer the right to review the completed closing disclosure how long before closing? 6 of 10 Which of the following is not a probable reason for a listing to expire without selling? 95- Who is liable for the withholding on the sale of a property owned by a foreigner? 10 of 10 Which of these is not an exemption to fair housing law? During a phone call, a salesperson discusses showing a property to a prospect. How would Grants lease at this time be classified? D. All adjustable rate mortgages have negative amortization. B. Its a good idea for brokers to carry workers compensation coverage. C. Tangible assets transferred in the sale include inventory, fixtures and equipment. : The Commission could suspend or revoke Rob's license. California: Real Estate Practice Ch7 Quiz with no answers. 23 of 50 Which of the following statements best describes what happens in a mortgage loan transaction? What would you say about Alexs actions? Tell Mike that the sellers will be upset if they cancel the appointment. A. 9- Which California Fair Housing Law Prohibits discrimination based on sexual orientation of source of income? At time of license renewal, what is the renewal charge for a salespersons license? The buyer must pay the broker a commission. A. What is this called? The loan will be distributed to them gradually. 2. 8 of 10 What does the paragraph on repairs state? Mary makes an offer to purchase a duplex from Sam. The gross annual income, $7,200, divided by 8% (0.08), is $90,000. Name four traditional marketing tools that you should use with every listing you get. What disclosure does the salesperson owe to the buyer and seller? C. Explain your marketing plan to the sellers. The purchase price, plus depreciation, B. 53- Greg sold an apartment building he owned for 20 years. The bundle of rights does NOT include the right of, Billy has a two-acre lot that is zoned agricultural. D. There is a loan protection plan included with the loan. This term typically refers to. 6- What is the ultimate result of using the Closing Disclosure form? D. Must start out as a part-time employee. 8 of 10 Which disclosure is required by the Real Estate Settlement Procedures Act? 106- If broker Tim advertises a property for sale that he doesnt intend to sell so that he can attract potential buyers, Tim is practicing: >Real Estate Practice Class Questions with no Answers for 1- When is an agency relationship created? The buyers family is pressuring them to purchase this home. buyer randy makes an offer to purchase. 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.. Buyers make an offer to purchase property and to place $1000.00 earnest money into their broker's trust account. D. The interest payment is always smaller then the amount allocated to the principal. 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? The buyers have been pre-qualified by a lender. Hes very comfortable selling that type of property and knows he can work well with clients in that area. 14 of 50 The title report on a property shows there is a lien on the property. Last year, about 25% of his income came from sales commissions. When Bill pulls in front of the home, Linda decides immediately that she doesnt want to see the inside. The listing agent must provide the disclosure to the seller prior to securing the listing agreement. 76- Mark believes he has been discriminated against during his home search. 9- What required disclosure is a result of Megans Law? 67- Hannah is a real estate assistant. What do many firms do to avoid confusion with their advertising plan? buyer randy makes an offer to 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. Sam plans to overnight the acceptance on Monday. In addition to agent and MLS home tours, what are some other ancillary tools you can use? 2- What types of office administration tasks are important for a licensed assistant to perform? 4- What are the major areas of newspaper leads? The offer with the fewest contingencies D. Placing a classified ad in the weekend paper. Only needs to be done periodically. 2 of 10 How long must buyers and brokers keep the documentation on a foreign sale? 3 of 50 Paul is filling out the Natural Hazard Disclosure Statement. What is most likely their main motivation for investing? 10 of 10 If an agent does not comply with the requirement of conducting a visual inspection of a property, how long after possession does the buyer have to file a suit? C. Sellers are apt to choose qualified buyers over ones who have not been qualified. 7- What is the difference between an FHA loan and a VA loan? 5 of 10 Which of the following is not a source of information for professional ethics 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? Answer: D- Return the money to buyer Norm. They were counting on a full-price offer and are very disappointed. C. Real Estate Settlement and Procedures Act. Before the sale can get finalized, the owner would require you to first meet certain conditions. D. The buyers love the landscaping improvements the sellers have made. 4- What are the major areas of newspaper leads? 105- Agent Alice has received an offer that she believes is not in the sellers best interest. 3- What is the difference between CLTA and ALTA policies? Answer: C- Ask the buyer if the buyer would like to make an offer taking the roof age into account. B. AnnualinspectioncostsAnnualcostofscrapmaterialsAnnualreworkcostAnnualcostofqualitytrainingAnnualwarrantycostAnnualtestingcost$155,000286,00034,679456,0001,546,000543,000. D. Interest rates are typically fixed rate. Present the higher-priced offer first. B. 7- If an item is paid for in advance by the seller, how will it be handled on the settlement statement? Share that information with the sellers. What would be determined by a location survey? A. B. Salesperson Julie can receive her commission from the cooperating broker in her latest transaction. 10- Which disclosures are NOT required to be made when selling residential property? What percent of loss did you have? A. I will complete the GRI certification in the next four years. On what amount will he pay capital gains tax? 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. 55- Greg is approved for a Cal-Vet loan. How much did Sam gain or lose on the sale? Which of these actions might have caused their upset? Present the $208,000 offer today and wait for a response from the sellers before he presents the other offer. 83- Matt is computing the adjusted cost basis of his apartment building for income tax purposes. A. B. D. Recommend that the seller delay response to make the buyer nervous and then submit a counteroffer. D. A shopping center might have to remodel their public restrooms. What will the new owners pay in property taxes? The lender must furnish a copy of the CFPB booklet to Abby no later than the third business day from which date? Pellentesque dapibus efficitur laoreet. The original loan becomes subordinate to the wraparound. 21- Which form of advertising is considered the most cost-effective method for selling a home? 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? A. This best describes. The ordinance also requires a 10-foot side set back. A. D. A lender can continue to collect PMI payments until the homeowners equity reaches 25%. 3 of 12 All of the following are primary mortgage market lenders except which? 3 of 11 Which loan covers the period of time between the end of one mortgage and the beginning of another? 2- Name one advantage and one disadvantage of telephone contacts. 10. C. Allow indoor pets to leave their designated area. What kinds of things should he be looking for? What approach can their agent take to change the sellers perception of the offer? The check that accompanies the salesperson license application must be for what amount? An apartment building for a vacant lot, B. 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? Set up a face-to-face meeting with the sellers as soon as possible. Answer a question with a question when possible. 5- Under what circumstances can a loss on the sale of a personal residence be deducted from income taxes? Not waste anymore time on this house, the buyer will never make an offer. A net listing is illegal in all states. chris kelly rock 92 net worth. What should you keep in mind when developing your marketing plans? Make no recommendations and let the sellers decide on their own. "What would you like to offer?" Bob Broker knows that another offer will be coming in at about the same time. Prior to bringing an offer to purchase. C. There is a 6-month pre-payment penalty for paying off the loan early. D. Written escrow instructions must include a statement with the brokers name, indicating he or she is a licensed real estate agent. Buyers make an offer to purchase property and to place $1000.00 earnest money into their broker's trust account. sam neill laura tingle split 6- What is the main reason sellers choose to sell their property without an agents help? Two weeks before the close of seller Jan's property, buyer Sam makes an offer. A buyer mails an offer to an out-of-town seller. A. Lead-based paint was used in the home. Courtesy of RealtyPact. 44 of 50 Fair Housing laws are designed to: A. C. Classified ads placed on the property, D. Number of hits on the company website. A. 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? B. 1- What are the three important considerations for a good property investment? Licensee Pat was in transit to the cooperating licensee's office with the offer. Is generally viewed as unprofessional. The buyer was responsible for making the discovery, so Pam is therefore liable. This practice is: 24- When talking to his investment clients, Broker Adam often to tax shelters. A secondary bid for a property that the seller will accept if the first offer fails Which of the following statements is not true? 6 of 10 Which of the following statements is not true? A. 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? 8- What is an important issue for potential buyer clients to understand? 4 of 10 Which is true of an exclusive-authorization-to-acquire-property agreement? 7- What does the net operating income of a property represent? 4- How is property management seen as a risk to investing? Finally, add the origination fee and points together to calculate the buyer's total cost; $3,370 + $3,370 = $6,740. Now, calculate the amount by which the remaining $145,000 is reduced; $145,000 x 0.10 = $14,500 (100% - 90% = 10% not covered). D. Offer to call the prospect when new listings that meet his or her criteria come on the market. D. Offer something valuable to the reader. buyer randy makes an offer to purchase. They will have a number of new expenses as a result of this purchase. A. I will make two new contacts every day this week. 19- Which of the following is not an advantage of hosting an open house? Explain. Installation of central air conditioning, D. Addition of a tenant laundry facility. His depreciation was $2,500 per year. C. The loan term will extend gradually over time. 5 of 10 All of the following are valid listing agreements. Change the locks on the tenants apartment. 8- What actions does a lender take to sell a mortgage in the secondary market? 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. The date Abby receives the good faith estimate. C. Is not necessary if the verbal presentation is strong. D. Avoid negative comments while hes inside the home. 1- What is an important thing to remember about listing agreements? How are properties affected by the local economy? If the terms offered by the Buyer are acceptable to the Seller, the Seller signs the Offer Form to begin the sale. C. Discover why some homes havent sold. 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? buyer randy makes an offer to purchase. 4- What items are not covered by any title insurance policy? I do not know (who\underline{\text{who}}who, whom) the guest speaker will be. First mortgage on a single-family home, C. Primary mortgage on an office building, D. Settlement charges on a shopping center. A. Brenda must follow all of Jims instructions. A. B. Where is it that he likely found out the property was for sale? What kind of listing agreement does Alice have with Jack? 49 of 50 Greg and Wanda Sandler purchased their home 35 years ago and it was paid off at the end of thirty years. They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. D. Their lender can profit from the difference in interest rates. 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 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? 6- What is the Real Estate Transfer Disclosure Statement and who is responsible for providing it? Which of the following statements is true? 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. Answer: B- The contract is voidable due to mutual mistake. 9 of 10 An agent must give a copy of the listing agreement to the sellers: A. A. The broker will owe fiduciary responsibilities to the seller as well as the buyer. 44- Jim owns a gift shop in a commercial building. Pellentesque dapibus efficitur laoreet. Auteur/autrice de la publication : Post published: 16 juin 2022 Post category: aerogarden pump settings for herbs aerogarden pump settings for herbs 4- What is a good method for estimating what a seller will net from the sale of the property? What should Bob advise Sam? C. Pam should recommend that they counteroffer with a price halfway between asking and offering price. 8 of 10 Proof of ownership of a property is called: 9 of 10 Who is responsible for ordering the preliminary title report? ", Which of the following rules deals with specific actions regarding the requirements for handling earnest money deposits? If an item is already correct, write C on the line provided. B. Which of the following would be considered an intermediate goal? 8- Why is it important to have a written prospecting plan? 12,800 square feet Example 1. The homebuyer, on the other hand, is hoping the transaction will close because the home is in A-1 condition and perfect. 8- What actions does a lender take to sell a mortgage in the secondary market? Which law extended discrimination to include handicap and familial status? Post by; on fulgrim vs guilliman excerpt; clubhouse baseball iphone . \end{array} When should the agent have disclosed this fact? 9 of 10 When you believe an offer is both fair and reasonable but it does not meet the sellers asking price, you should: A. 9- What is the basic purpose of Truth in Lending Regulation Z? The couple now has. 7- What does the paragraph in the listing agreement titled Entire Contract deal with? B. castilian drive, los angeles. B. C. The home sits on an earthquake fault zone. What should Jake do? 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. How much do you have in your savings account? 1- What is a competitive market analysis? 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? 7- How can a builder help you generate leads? B. C. Johns office has a selection of books, CDs and tapes for agent use. The definition of race was expanded to include ancestry. 5- What does the safety clause in the listing agreement do? The owner of the property is HIV positive. 38 of 50 What is the primary role of Fannie Mae? D. Greg has no fiduciary responsibilities to Kim once the listing expired. 62- When agent Hal shows a home he should never: A. 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. 84- Four years ago, Sam purchased a vacant lot for $10,000. A. The offer that has the shortest closing date, Answer: B- The offer with the highest price that is the most likely to close. 9- Define a purchase money mortgage. B. Write a counteroffer. 1- The amount that a seller takes away from a sale is termed: A) Net sale price B) Seller's proceeds C) Gross sales price D) Profit margin 2- Which of the following best describes prospecting? D. Supply cannot be moved to a high demand area. 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?. 1- What is important to know about unlicensed real estate assistants? 3 of 10 Sara just bought her first new home. A. 3- Differentiate between mortgage brokers and mortgage bankers. Tom violated the law by not providing notice of information that would affect Fred, When a broker received an unexpected bill, he deposited a client's earnest money check into his personal account to cover the expense. B. 1- What is escrow? 27 of 50 Tim and Sue have obtained a buydown loan on their newly built home. California: Real Estate Practice Ch12 Quiz with no answers. 75- All but which of the following is NOT an AIDA feature? 2- What are some tax benefits associated with investing? C. An offer or counteroffer can be withdrawn at any time before it has been accepted. 29 of 50 What is one way the Federal Reserve System regulates the money supply? D. She should persuade them to accept the offer. A. $5,500 the first year, plus a maximum 2% increase in market value per year, B. 4- What is a good method for estimating what a seller will net from the sale of the property? D. Make sure all light bulbs and lamps are working and are bright. D. Chris is a buyer's agent. C. Once filed, it remains until terminated. 97- Buyer Randy makes an offer to purchase one of Broker Toms listings on June 15. What is the result? He just sold it for $13,000. Which of the following items can Matt not add to the original cost when doing the computation? 8. Buyer Amanda asks if she can measure the windows to see if her current drapes will fit. Which would NOT result from the exercise of police power? Go back to the buyer's agent and try to get the offer higher. 4. D. Broker Tom has only limited responsibility for the actions of his licensees. A rental condominium for a recreational vehicle. C. Moving closer to the agent to get a better look. Recommend a counteroffer back to list price. One day later. 45 of 50 What is the Federal Housing Administrations primary role in the mortgage market? A broker might need to change the layout of the office to make the aisles wider for clients in wheelchairs. A. Click the "Allow" button. \text { Annual warranty cost } & 1,546,000 \\ What approach can Greg use to discourage the person from calling other agents? 1 of 10 All of the following are good newspaper sections to read for prospecting except which? 2 of 10 Which of these is not an AIDA characteristic? C. A counteroffer can give the buyers an out if they want one. B. B. Rewrite whole paragraphs to ensure clarity. 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. Mary makes an offer to purchase a duplex from Sam. residential transactions financed by federally related mortgage loans. C. Identifies buyers for other properties. How long does he have to file a complaint with the Department of Housing and Urban Development? fort worth police report number, what happened to jeff pegues,

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