buyer randy makes an offer to purchase buyer randy makes an offer to purchase

C. Identifies buyers for other properties. 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. 1- The amount that a seller takes away from a sale is termed: 2- Which of the following best describes prospecting? Real Estate Transfer Disclosure Statement, C. Natural Hazard Disclosure Statement. Deposit the check into his trust fund account on the next business day. A broker may advertise that he or she is an escrow agent. What are the buyer's costs on a $185,000 sale if the lender charges a 2% loan origination fee and 2 points? 6- According to California real estate law, how often must a broker balance his or her trust accounts? C. Classified ads placed on the property, D. Number of hits on the company website. \hline \text { Annual inspection costs } & \$ 155,000 \\ Once you've found an item you want to buy that accepts Best Offers, here's how to make your offer: Choose Make Offer. The borrowers family in case of his or her death, B. 27- Mr. and Mrs. Haley are purchasing beachfront property in an upscale development. California: Real Estate Practice Ch3 Quiz with no answers. A. Go back to the buyer's agent and try to get the offer higher. What should Alice do? 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. Seeking buyers for your listings B. A. PRACTICE QUESTIONS), >CALIFORNIA REAL ESTATE PRACTICE PRELICENSE CLASS, >CALIFORNIA LEGAL ASPECTS OF REAL ESTATE PRELICENSE CLASS, >ALL Questions with Answers for ALL 3 PreLicense Classes Guides on 1 page, >ALL Real Estate Practice Class Questions with Answers & most with Explanations. Information on current loan programs. Which of the following would be considered an intermediate goal? What should you keep in mind when developing your marketing plans? From whom may a salesperson receive compensation for performed activities? 7- What is the difference between an FHA loan and a VA loan? Whoever brings the buyer will get the commission. Entails entering into two agreements simultaneously. What are some important tips for home tours? B. B. Greg has put himself in a potential dual agency situation. B. Salesperson Julie can receive her commission from the cooperating broker in her latest transaction. Why or why not? 3- In what three ways can an assistant aid an agent with appointments? B. Pleases the sellers by inv=creasing activity. yellowbrick scholarship reviews. 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? fairbanks ice dogs standings . Broker compensation to other brokers. D. In most situations, an assistant should not have the responsibility of in-person contact with clients. What is the major difference between an employee and an independent contractor? Next, calculate the points charged; $168,500 x 0.02 = $3,370. B. If you like, you can add a message to the seller. A. He must withdraw his representation of one of the parties. 9 of 10 A reference list of alternative comparable properties is sometimes referred to as the: 10 of 10 Prospects Jim and Linda arrive with agent Bill at the first showing. 10 of 10 All of these activities are appropriate to do within the first few days of obtaining a listing except which? 7 of 10 Which document shows the assets and liabilities of a business? Who is responsible for removing the lien to clear the title? Several weeks later when showing another home to a buyer, Greg mentions that Kim would have accepted less for her home. 4- Amanda calls broker Tim to schedule a showing of one of his listings. They made $50,000 of improvements. B. D. Provides the names of individuals who may want to sell inherited property. 3- When making your presentation, what topics should you cover? To insure loans made by approved lenders, D. To sell loans to other secondary mortgage marketers. 65- Which of the following items is usually not prorated at closing? D. Property evaluations from other agents have valuable information for sellers. \text { Annual rework cost } & 34,679 \\ \text { Annual cost of quality training } & 456,000 \\ 7- How can a builder help you generate leads? 4. How to make a Best Offer. 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? A. 6- What is the Real Estate Transfer Disclosure Statement and who is responsible for providing it? Which area of specialization would she fall into? D. Allows a broker to have as a commission anything above the minimum the seller sets. 3- What are the three general responsibilities of a property manager? C. If the selling agent does not deal directly with the seller, the selling agent is not required to provide the disclosure. B. 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? 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. Explain the method used to write good advertising. A. Return the earnest money to buyer Norm. A. 4 of 10 Which of the following is NOT a condition of the safe harbor test? What will they have to pay at closing for the points? 103- Kirk and Sandy obtained a wraparound mortgage. 7- What does the net operating income of a property represent? C. Eric may not represent the sellers interests to the detriment of the buyer. \text { Annual testing cost } & 543,000 \\ Be a deal maker. 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? C. Recommend a counteroffer back to list price. 7 of 50 Glenna and Amanda just bought their first home. 7. They will have a number of new expenses as a result of this purchase. 2- What is important to remember about multiple offers? D. Offer something valuable to the reader. 5- When must a licensee provide an agency disclosure to a prospective client? B. plane rides is 0.5 and the price elasticity of demand for train rides is 0.2. 29 of 50 What is one way the Federal Reserve System regulates the money supply? 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.. The price elasticity of demand for He asks, Which one of the children gets the basement bedroom with the private entrance? What kind of closing technique is Tim using? 1 of 10 All of the following are good newspaper sections to read for prospecting except which? 4 of 10 Which of these is not an important aspect of selling? 6 of 10 Which booklet is not part of the Combined Hazards Book? Two months later she purchased and moved into a new home that cost $145,000. 80 feet of frontage x 160 feet of depth = 12,800 square feet allowed by local ordinance. The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. Code Violations and Tax Delinquencies. Bob cannot do anything; it is out of his hands. 33- Which statement is true about a loan that has a negative amortization? What is the result? 39 of 50 Prospects Mike and Marge arrive with agent Elaine at a showing. Lorem ipsum dolor sit amet, consecteticitur laoreet. B. 7 of 10 Bill and Brenda bought their home for $150,000 seven years ago and have lived in it ever since. C. Sharing all visitor comments two weeks before the listing ends. A. 6 of 10 Which of the following is not an item that a buyer usually pays at closing? C. A broker is not responsible for the acts of independent contractors. 8. The appraised value is $86,500; 80% of that amount is $69,200 ($86,500 x 0.80). Lenders are in the best position to qualify buyers. He paid $100,000 for it, and made $300,000 worth of improvements. Which statement is true? 10- What is the right to rescind and what is not covered by this rule? D. Exclusive-authorization-and-right-to-sell agreement. 2- Name one advantage and one disadvantage of telephone contacts. D. Convince a seller to list with you. 4 of 10 Examining the economic soundness of a property means looking at all of the following except which? B. Newsletters can be a very effective advertising forum for niche marketers. A. A. Plastic dishes last a long time because they are unbreakable. 2- What exception exists to the duty of obedience when working with a client? A. D. Interest rates are typically fixed rate. 7. 4. buyer randy makes an offer to purchasewhy do my fingertips smell like garlic PB Nitom Blog . 3- What signals do buyers use to indicate they may be willing to make a purchase? they are effectively terminating the original offer. "Let's make a low ball offer?" What is the body of law that governs negotiable instruments? 5 of 10 The principles of an agency relationship include all of these factors except which one? 1- What is goodwill as it relates to a business? 31 of 50 Which of the following AIDA characteristics is the most critical in the ad? A. 16- Dave and Nadine have decided that they want to become property investors. B. Once the Offer is signed by the Buyer and the Seller, and the contained contingencies are met, it then becomes a legally binding agreement. 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? For what type of loan is the borrower applying? Later that day, Kirk finds a home he likes better; so he withdraws his offer to Larry. Possession date. B. Availability of multiple listing service, C. Broker-paid advertising and promotion, D. Assistance with filling out disclosures. Decide which offer is best and present that one. 3- A property manager can refuse to rent to applicant Mike for any of the following reasons except which? 8 of 10 Which of these statements about counteroffers is not true? The homebuyer, on the other hand, is hoping the transaction will close because the home is in A-1 condition and perfect. To learn more about the real estate business, D. To make more money than a real estate agent. However, she believes the sellers will not be willing to accept the offering price. Which would NOT result from the exercise of police power? Which law extended discrimination to include handicap and familial status? Sending cards and newsletters is a good way to keep in contact with clients and prospects. C. I will get three new listings this month. Terminate the first contract and accept the higher offer. List the details of all parties involved. A secondary bid for a property from the same buyer. Mary learns that Sam is selling only half of the duplex. C. Jim and Amanda whisper and frown when they see the basement. B. Wait until next week to send an activity report, hoping things will pick up. Answer: D- They are effectively terminating the original offer. Buyer Norm called and rescinded the offer. D. Broker Gina puts $150 into her trust account. When a home seller accepts a purchase offer, the seller is hoping the buyer will complete the transaction at the agreed-on price and believes there is nothing wrong with the condition of the home. 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. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. 33- Which statement is true about a loan that has a negative amortization? 82- What is the minimum period of time over which the owner of an apartment building can depreciate the improvements? D. Arrange to meet the prospect at your office. 2- What does Proposition 58 state? Buys conventional, FHA and VA loans. 3- What is the difference between CLTA and ALTA policies? To access the website, click "Allow". B. B. 7 of 10 Which disclosure form gives detailed information about the propertys condition? California: Real Estate Practice Sample of Final Course Exam. D. Whether or not the licensees attend staff meetings. 2 of 10 Offering a buyer more than one option and having him or her choose is using what kind of closing technique? B. 6- What is the Real Estate Transfer Disclosure Statement and who is responsible for providing it? 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? 3 of 10 Which of the following forms is non-standard and should be prepared by a broker to give to sellers? 1- What is an important thing to remember about listing agreements? Tell the buyer to submit the offer first and then take a copy to the attorney to review. 1- When is real property reassessed? 6 of 50 Broker Tami has a very low advertising budget. 4 of 10 Timeshare buyers have the right to rescind a transaction within what timeframe after signing the purchase contract? 5 of 10 Which of the following is not a source of information for professional ethics codes? C. The home sits on an earthquake fault zone. 47 of 50 Which of the following would not qualify as a 1031 exchange? C. The seller did not disclose the problem on a sellers disclosure form so Pam is off the hook. Answer: D- Avoid telling him the price by setting up an immediate appointment. C. FSBO sellers who list with an agent will pay their own advertising costs. What would be a good approach for Pam to take? Answer: B- The contract is voidable due to mutual mistake. C. Moving closer to the agent to get a better look. buyer randy makes an offer to purchase. B. C. Maintaining the office filing system. Which is true? D. Ensure fair real estate negotiations. California: Real Estate Practice Chapter 13 Quiz with no answers. C. Present Alexs offer first since it came in first. The term of the loan can be shortened. The lender must furnish a copy of the CFPB booklet to Abby no later than the third business day from which date? Next, determine the remainder of the loan; $185,000 - $40,000 = $145,000. 8 of 10 Proof of ownership of a property is called: 9 of 10 Who is responsible for ordering the preliminary title report? Understanding the kind of responses your advertising generates, D. Being able to anticipate the callers requirements. What kind of loan do they have? 4- What is the agreement that a broker can enter into with a buyer? B. 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? 4. 7- Name three benefits of listing a home with an agent that you could share with sellers. 49 of 50 Greg and Wanda Sandler purchased their home 35 years ago and it was paid off at the end of thirty years. cross elasticity of demand for train rides with respect to the price of a plane ride 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? C. Once filed, it remains until terminated. A. B. Rewrite whole paragraphs to ensure clarity. If a person feels like he or she has been discriminated against, how long does that person have to file a complaint? First, determine what you originally paid for the house: $139,900 x 1.10 (100% + 10% = 110% or 1.10) = $153,890. 5- If lenders intend to sell mortgages in the secondary market, what must they do?