buyer randy makes an offer to purchase

B. I will do two practice listing presentations per week with an experienced agent for the next two months. 7 of 10 If a broker receives a deposit check with a purchase contract, which of these is he not allowed to do? 4 of 10 Which of the following would be the least desirable phone handling technique? 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; 69- According to ECOA, lenders cannot discriminate against potential borrowers on the basis of all but which of the following? D. Kirks offer to Larry is legally cancelled. A net listing is illegal in all states. What is the market value of the property? C. If the selling agent does not deal directly with the seller, the selling agent is not required to provide the disclosure. B. Alice knows everything about the exclusive east side neighborhoods. The interest rate will increase gradually over time. A. Ordinary china is very fragile. A. What do many firms do to avoid confusion with their advertising plan? \text { Annual cost of scrap materials } & 286,000 \\ B. Broker John puts $500 into his trust account. 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 \text { Annual rework cost } & 34,679 \\ B. 12,800 square feet Buys conventional, FHA and VA loans. B. They were counting on a full-price offer and are very disappointed. 5- Why is it important for the buyers to indicate whether or not they intend to occupy the property? C. It keeps your name in front of potential buyers and sellers. What are some important tips for home tours? 1 of 10 The Lead-Based Paint Disclosure is required for homes built: 2 of 10 Which of these documents is for sellers only and not for buyers? Access to over 100 million course-specific study resources, 24/7 help from Expert Tutors on 140+ subjects, Full access to over 1 million Textbook Solutions. C. Advertising in the telephone directory is cost effective because the directories can reach every home in the marketing area. Is depreciation accounted for by a hospital? The salesperson entered into a buyer-broker contract with her brother. A. Which is a true statement? B. buyer randy makes an offer to purchasei miss you text art copy and paste. The loan will be distributed to them gradually. First, determine the amount by which the first $40,000 is reduced; $40,000 x 0.05 = $2,000 (100% - 95% = 5% not covered). Bob Broker represents Sam Seller. Allows the agent to determine community market trends. A. Pam should tell them to reject the offer so that the buyers will counter back with full price. 50- Harry has some buyers that he believes are ready to make an offer. What kind of mortgage might they get? How would Grants lease at this time be classified? D. Whether or not the licensees attend staff meetings. What approach can Greg use to discourage the person from calling other agents? She sold the property and several months later the buyer sued Pam for not disclosing the problem. The home comes equipped with all furnishings. 7- What does the net operating income of a property represent? 6- What is the Real Estate Transfer Disclosure Statement and who is responsible for providing it? 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. What should you keep in mind when developing your marketing plans? Gross income must be based on production. 9 of 12 When a lender is evaluating a buyers ability to repay a loan, the lender looks at all of these items except which one? Who is responsible for removing the lien to clear the title? C. Offer to show the caller a newly-listed, not-yet-advertised property, even if one doesnt exist. 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. C. Be sure all requested inspections have been ordered. From the 200' depth, subtract the 20' rear and front setback (200' - 40' = 160'). C. The loan term will extend gradually over time. 3 of 10 Which of the following statements is NOT true regarding a broker acting as an escrow agent? What should Tom do? 8. 6- What is the main reason sellers choose to sell their property without an agents help? 3 of 10 Which of the following would be an example of a licensee specializing in business type? Certain homeowners may qualify for a $10,000 exemption. 10 of 10 Which of these individuals could not act as an escrow agent without an escrow license? What is this agreement called? 14- Value includes which of the following aspects? Rate of return is computed by dividing the annual net income by the rate of return. 76- Mark believes he has been discriminated against during his home search. A. C. I will get three new listings this month. A buyer applies for a loan that is neither insured nor guaranteed by a government agency. B. B. D. Collecting information and pre-qualifying buyers yourself is the easiest and best approach. A. Which of these statements is true about the wraparound mortgage? 12- What does TRID require of lenders? She discovers that the more time passes, the more she feels frustrated by the seller's lack of cooperation. Practice exam for California Real Estate Practice Class, Answers will be revealed with the correct subscription. Fill out a separate, numbered counteroffer form. 23- Jonestown Community Bank refuses to lend money to potential homeowners trying to purchase property in the predominantly Asian neighborhood on the west end of town. 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? Is critical to your success in real estate. B. Facebook Instagram. 2. What kinds of things should he be looking for? 41 of 50 What was the important ruling in Jones v. Mayer? Mary writes a letter rescinding her offer and hand delivers it to Sam Sunday night. 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? D. Similar expired listings that didnt sell. C. The date the lender receives her application. D. The casement windows have broken seals. B. An open listing is an exclusive contract. Allows quick repayment of the loan through accelerated payments. If a seller changes the terms of the offer to purchase, he has created a counteroffer. The sellers want the earnest money check made payable to them instead. 70- Which of these items would be a credit to the buyer on the settlement statement? A. Jim specializes in clients who want to buy restaurants. 7 of 11 In which of the following types of loans is the payment allocated only to interest? The appraised value is $86,500; 80% of that amount is $69,200 ($86,500 x 0.80). 3- What is the difference between CLTA and ALTA policies? Broker Bob has a listing with Sam Seller and calls Sam to tell him Bob has received an offer from a buyer. 3- What signals do buyers use to indicate they may be willing to make a purchase? 1- What is an important thing to remember about listing agreements? PRACTICE QUESTIONS), (correct answers will be revealed with correct subscription). Mary wants to terminate the contract. 1 of 10 Which of the following types of agency is not allowed in California? 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? 3- How could refinancing be an investment benefit? D. The property is in a state fire responsibility area. Buyers looking at FSBO homes are usually looking for a bargain. Sharon and Steve have just taken a second mortgage on their home. 5- What actions can the sellers take regarding the purchase offer? 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? Be a deal maker. A. Tell Mike that the sellers will be upset if they cancel the appointment. Rule 21 52- Which statement is true about a listing contract? 29 of 50 What is one way the Federal Reserve System regulates the money supply? Gives the names of lawyers who might require property assistance. Several weeks later when showing another home to a buyer, Greg mentions that Kim would have accepted less for her home. Which of these forms of advertising is she most likely to avoid? 84- Four years ago, Sam purchased a vacant lot for $10,000. Jim has decided that he will learn all he can about the new subdivisions at the west end of town. One day later. 8. B. Change the locks on the tenants apartment. C. Prepare additional documentation to take to the presentation. Write a contingent counteroffer. 8 of 10 Which of the following will give you comparative market data the fastest? 46 of 50 Greg grew up in and lives in a rural area. C. Tell the sellers you expect an offer to be coming soon. C. Tangible assets transferred in the sale include inventory, fixtures and equipment. D. Meet with the buyers lender to ensure theyre getting a good deal. C. The seller did not disclose the problem on a sellers disclosure form so Pam is off the hook. The owner of the property is HIV positive. 88- Sally and Dan must pay 2 points on their new $65,000 loan. 87- What information can you gather from the newspaper to help develop a Prospecting Plan? Other than residential list three kinds of property in the real estate market. 3- What signals do buyers use to indicate they may be willing to make a purchase? Their first mortgage will get paid off immediately. 5 of 11 Which of these statements is true about a CalVet loan? 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? D. I will complete a property management seminar within the next year. C. The fair market value at the time of sale 35 of 50 Agent John just listed a home in a mid-range priced neighborhood. D. Must start out as a part-time employee. Find solutions. B. Its a good idea for brokers to carry workers compensation coverage. $6,740 B. D. Tim and Gail have qualified for an FHA loan. C. Explain your marketing plan to the sellers. The price elasticity of demand for C. Broker Harry deposits $1000 into his brokerage business account. Course Hero is not sponsored or endorsed by any college or university. They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. 3 of 10 How long must trust account records be kept? Which of the following is Kirk himself not likely to do during the application process? C. Analyzing the income potential of the property. A. 14 of 50 The title report on a property shows there is a lien on the property. B. 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. The advertiser can be sentenced to up to a year in prison. A. D. A lender can continue to collect PMI payments until the homeowners equity reaches 25%. Elaine parks across the street from the home and Mike is disappointed by what he sees. 5 of 10 What would be the least effective way to get to know your buyers needs? A counteroffer by a seller to a buyer turns the seller from offeree to offeror. 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? Offer to mail the caller a set of fliers on interesting properties. 7 of 10 Which paragraph of the purchase agreement must be initialed by both buyers and sellers for it to apply? Present the $208,000 offer today and wait for a response from the sellers before he presents the other offer. 2- Describe an open listing. Brenda refuses. C. It must specify a definite termination date. 1- What is a competitive market analysis? 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. Which term is the process of joining several parcels of land into one larger parcel? 7- What are the capital gains exclusions associated with the sale of a personal residence? 57- Under federal income tax law, the basis for a personal residence is which of the following: What California Fair Housing law has the manager violated? California: Real Estate Practice Chapter 14 Quiz with no answers. What kinds of things should he be looking for? AnnualinspectioncostsAnnualcostofscrapmaterialsAnnualreworkcostAnnualcostofqualitytrainingAnnualwarrantycostAnnualtestingcost$155,000286,00034,679456,0001,546,000543,000. B. Better yet, try to avoid deal breakers. Here are the steps to follow to make an offer to purchase: Step 1. 10 of 10 Which of these is not an exemption to fair housing law? Tell the sellers exactly how she feels and why she thinks the offer is not a good one. Amanda loves the home and wants to make an offer. When Bill pulls in front of the home, Linda decides immediately that she doesnt want to see the inside. 92- Which of the following situations is not exempt from the seller disclosure requirement? He asks, Which one of the children gets the basement bedroom with the private entrance? What kind of closing technique is Tim using? D. I will distribute 200 business cards every month for the next six months. 8 of 10 When is the first installment of property taxes due? If something truly is a deal breaker and a line in the sand for you, that is fine, but stick to it. B. 7 of 10 Which of these is not a good thing to do when writing a counteroffer? D. Buyer indemnity and seller protection. 8- When does a purchase offer become a legal contract? B. What kind of loan do they have? A. C. Shows property addresses that should be excluded from prospecting. 1 of 10 Which Fair Housing Law added sex to the list of protected classes? 23 of 50 Which of the following statements best describes what happens in a mortgage loan transaction? He sold the home for $750,000 and paid $50,000 in selling expenses, including the brokers commission. five letter words with l; jaiswal surname caste; pros and cons of herzberg theory; sechrest funeral home obituaries; curious george stuffed animal 1975; cornerstone staffing application 0 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. D. Allows a broker to have as a commission anything above the minimum the seller sets. 16 juin 2022 why do babies clap their feet. Is equal for each year over the life of the property, C. Is high during the first five years of the ownership period, then reduces gradually over the life of the property, D. Varies according to the expired life of the improvements made to the property. At time of license renewal, what is the renewal charge for a salespersons license? A. Generates leads for new listings. 8 of 10 A lease that has no time limit is an: 9 of 10 Which of the following represents an intangible business asset? What is the key feature of this type of loan? If a buyer has given the broker a signal that the buyer is ready to make an offer, what should the broker do to get the buyer to make the offer? B. B. munich latitude compared to us; pro sun tan. Broker Bob has a buyer who has seen a property twice and seems ready to make an offer. How should licensee Fred handle this offer? D. The buyers love the landscaping improvements the sellers have made. The borrower makes payments of interest only over the term of the loan. This is not true of which duty? Which statement is true ? Lenders are in the best position to qualify buyers. She should advise them to let the offer expire with no action so the buyers will get nervous. C. Eric may not represent the sellers interests to the detriment of the buyer. 9- Which California Fair Housing Law Prohibits discrimination based on sexual orientation of source of income? C. Write and sign commission checks to salespersons. Retain the check for use with a future sales contract offer.

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