Three days after that, the agent prepares her offer and asks the buyer to sign an agency disclosure statement stating the agent represents the seller. Recommend a counteroffer back to list price. How to make a Best Offer. B. Underline the correct pronoun in parentheses in the following sentence. Underline each word that should be capitalized in the following items. B. 9- What required disclosure is a result of Megans Law? 2- What kind of problem can result from a straight loan? Can be used in place of a verbal presentation. B. 7- In the initial meetings with the prospects, the agent should do all of the following except which? Broker John puts $500 into his trust account. Brenda refuses. B. What should Bill do? What does that mean? 8- What is an important issue for potential buyer clients to understand? 8- What is an important issue for potential buyer clients to understand? What kinds of things should he be looking for? A. Pam should tell them to reject the offer so that the buyers will counter back with full price. Retain the check for use with a future sales contract offer. 8. Sample Final Exam for California Real Estate Practice Questions with no The ordinance also requires a 10-foot side set back. 8 of 10 Which of these statements about counteroffers is not true? 2- What is important to remember about multiple offers? B. FSBO sellers believe they will save money if they sell themselves. Executor Fred calls Agent Tom to list a vacant tract of land, instructing him to list the land for $700,000. 7 of 50 Glenna and Amanda just bought their first home. B. Mary learns that Sam is selling only half of the duplex. He succeeds in setting up an appointment to meet with the caller. 1 of 10 When you receive an offer on a listing for less than asking price, you should not: A. 6 of 12 The maximum commission amount a mortgage loan broker can charge on a second mortgage loan of 3 years for $18,000 is what? 5 of 10 Alice has decided that she will specialize in selling farm land. 2- Who needs title insurance and why? 41- Agricultural land includes all of the following EXCEPT which? Amanda loves the home and wants to make an offer. However, he is objecting because the roof is 12 years old. Chapter 8: QUIZ QUESTIONS Flashcards | Quizlet 1- What is escrow? Which area of specialization would she fall into? She would likely be required to do which of the following? C. If the selling agent does not deal directly with the seller, the selling agent is not required to provide the disclosure. She doesnt need a license to perform many activities at the firm, but which of the following would require her to have a license? A secondary bid for a property that is for more than the first offer 7 of 10 When the broker and seller agree that the broker can receive commission for a specified number of days after the listing expires if selling to a named party on a list, its referred to by what term? 6 of 10 Which of these is not a tool to help evaluate advertising effectiveness? C. If Bill pays off the loan early, there will be no prepayment penalty. The monthly net rental is $600. buyer randy makes an offer to purchase 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? A. Brenda must follow all of Jims instructions. 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. 7- What makes up a mortgage? 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. 1 of 12 California law requires that a licensee acting as a loan broker keep the Mortgage Loan Disclosure Statement on file for how long? Mary makes an offer to purchase a duplex from Sam. 3- For whom do property tax exemptions exist and for how much? Bob Broker represents Mary Buyer. 1- What is a competitive market analysis? Post by; on fulgrim vs guilliman excerpt; clubhouse baseball iphone . C. Alice is getting a conventional loan and making a 15% down payment. During business hours and only after giving the tenant 24 hours notice. C. Participation in the MLS increases a licensees inventory. C. Theyre probably paying a higher interest rate on the second mortgage. B. Its easier to prioritize your tasks if your goals are in writing. Be a deal maker. 10 of 50 There has been very little interest in the Bowers home this past week. 5- What kind of newspaper ad could you place to solicit a listing? Loan terms are from 15 to 25 years. PRACTICE QUESTIONS), (correct answers will be revealed with correct subscription). D. Understanding characteristics of the rental market. 2 of 10 Which of these is not an AIDA characteristic? Give housing choices to the widest range of people. B. 4- What is the agreement that a broker can enter into with a buyer? 10 of 10 Which of these individuals could not act as an escrow agent without an escrow license? D. Give the sellers the price over the phone so that they can think about it before you meet with them. 5- How do life insurance companies get involved in the investment market? buyer randy makes an offer to purchase - cspconlutas.org.br Answer: D- They are effectively terminating the original offer. D. All adjustable rate mortgages have negative amortization. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. C. Present the $208,000 offer and the $200,000 offer together at the same presentation meeting. The offer with the fewest contingencies B. 9 of 10 All of these might be a buying signal except which? 11- What is a public report and when must it be provided? 7- What does the paragraph in the listing agreement titled Entire Contract deal with? Lorem ipsum dolor sit amet, consecteticitur laoreet. buyer randy makes an offer to purchase. A broker might need to change the layout of the office to make the aisles wider for clients in wheelchairs. an opinion of value for the day of the appraisal only. C. Emphasize that this home is a great buy and it would be a shame for them to dismiss it without looking first. 24 of 50 Tim thinks his buyers are ready to make an offer. B. A. 60- Seller Tom has an agreement with Broker Bill, Broker Jim and Broker Joe. 33- Which statement is true about a loan that has a negative amortization? He made $150,000 of improvements during the three years he lived in it before he sold it. A broker may require licensees to carry high levels of automobile insurance. C. The borrower pays a fixed rate of interest. C. When you have 200 names in your contact database. Checking your browser. \text { Annual cost of scrap materials } & 286,000 \\ Next, determine the remainder of the loan; $185,000 - $40,000 = $145,000. What should Pat do with the earnest money deposit? Each of their payments is for the same amount. A. If an item is already correct, write C on the line provided. Start in the room with the best features. How much do you have in your savings account? Practice exam for California Real Estate Practice Class, Answers will be revealed with the correct subscription. D. In most situations, an assistant should not have the responsibility of in-person contact with clients. B. Amanda loves the home and wants to make an offer. In this scenario, which of the following is not true? D. After the agent has had time to make copies at the office. Rate of return is computed by dividing the annual net income by the rate of return. 8- What is the major difference between a CalVet loan and other loans? 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? The other 75% came from an hourly wage paid by Tami. The couple now has. CSP-Conlutas Central Sindical e Popular . 3 of 10 When must a listing agent present the Disclosure Regarding Real Estate Agency Relationships to the seller? Answer: D- They are effectively terminating the original offer. Jim should not use this flier as a: 94- Sellers agent Pam was unaware of the fact that the heating system of a home she had listed was defective. 1- When is an agency relationship created? kennesaw state football depth chart; 2022617 buyer randy makes an offer to purchase B. buyer randy makes an offer to purchase - pet-anneve.com Deposit the check into his trust fund account on the next business day. buyer randy makes an offer to purchasewhy do my fingertips smell like garlic PB Nitom Blog . 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. Authors Channel Summit. D. Tell the sellers its time to reevaluate the price. Sam asks Bob what the price is. B. She tells them that this action could decrease their property values. Donec aliquet. The sellers want the earnest money check made payable to them instead. Select Review offer. An apartment building for a vacant lot, B. 8 of 10 Which of these marketing tools is not considered a traditional tool? The borrower makes payments of interest only over the term of the loan. They were counting on a full-price offer and are very disappointed. The sales agent should: Write a counteroffer stipulating the sellers' request. In which stage of the General Adaptation Syndrome *(GAS) are bodily resources drained and stress hormones depleted? 6- What is important for the sellers to know about a counteroffer? 5- Why is it important for the buyers to indicate whether or not they intend to occupy the property? 7- Name three benefits of listing a home with an agent that you could share with sellers. 4. For income tax purposes, the IRS would probably classify Patrick as: 32- Broker Alice has a listing agreement with Jack. B. 5- When must a licensee provide an agency disclosure to a prospective client? A. \text { Annual cost of quality training } & 456,000 \\ What should Alice do? Retired persons are a good source of neighborhood information. What are members of NAR required to do? C. Give the tenant a 3-day notice to pay or quit. Given the rise in the price of a plane ride, what percentage change in the price B. Alice knows everything about the exclusive east side neighborhoods. buyer randy makes an offer to purchase buyer randy makes an offer to 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. Better yet, try to avoid deal breakers. Example ______ 1. east of the mississippiriver\underline{\text{mississippi river}}mississippiriver. 5- What actions can the sellers take regarding the purchase offer? they are effectively terminating the original offer. is 0.4. What kind of lease does Jim have? 4. What approach can their agent take to change the sellers perception of the offer? B. 64- Which of the following is not a form of personal advertising? 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? Which is a true statement? If Broker Tom procures a buyer for Jack, Tom will get the commission and Alice will not. C. Bake muffins or cinnamon rolls to create a homey feel. The purchase price, plus improvements, C. The fair market value at the time of sale. B. C. Your plan for finding the buyer a home. This mortgage type is popular among the elderly. 10- Whats the difference between a lease purchase and a lease option? mejores programas bases de datos. 8- Why is it important to have a written prospecting plan? D. Amanda smiles at Jim when she sees the whirlpool tub. B. Sandy and Bill are putting 30% down on their home purchase. C. Brenda could be liable for a breach of the listing terms. C. Analyzing the income potential of the property. 4- What do Fannie Mae and Ginnie Mae do that Freddie Mac does not? D. The UCC is a body of law that standardizes a number of business practices. A. Greg is violating the duties he owes to his new buyer. A. Find a home that meets FHA requirements. In addition to agent and MLS home tours, what are some other ancillary tools you can use? Which of the following would be considered an intermediate goal? 2. 9. Answer: D- Avoid telling him the price by setting up an immediate appointment. Broker Ashley has been working for a seller for the past seven months. 4 of 50 Seller Kim tells her agent Greg that she would be willing to accept $185,000 on her $205,000 listed home. Point out that the roof is not leaking despite its age. If the terms offered by the Buyer are acceptable to the Seller, the Seller signs the Offer Form to begin the sale. 6- What is the ultimate result of using the Closing Disclosure form? 2- What types of office administration tasks are important for a licensed assistant to perform? 41 of 50 What was the important ruling in Jones v. Mayer? Real Estate Transfer Disclosure Statement, C. Natural Hazard Disclosure Statement. Which of the following activities would she not be authorized to perform? If checked, the seller can complete repairs after closing. The loan will be distributed to them gradually. A. Greg Burns is selling his interest in his home to his wife Melanie as part of their divorce settlement. 1- What are the three important considerations for a good property investment? What percent of commission the licensees can charge. 6- What is important for the sellers to know about a counteroffer? B. 69- According to ECOA, lenders cannot discriminate against potential borrowers on the basis of all but which of the following? A. What is the most often used form of earnest money deposit? 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? 90- Marsha has been keeping track of the effectiveness of her advertising campaigns. B. A. Salesperson Harry can solicit his own listings. Buyers make an offer to purchase property and to place $1000.00 earnest money into their broker's trust account. 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? From whom may a salesperson receive compensation for performed activities? 81- Jake has decided to specialize in working with clients who purchase schools. 4- Amanda calls broker Tim to schedule a showing of one of his listings. 7- Name three benefits of listing a home with an agent that you could share with sellers. 2- Name one advantage and one disadvantage of telephone contacts. Hes very comfortable selling that type of property and knows he can work well with clients in that area. Tommy Gee encounters an owner of a property who has no equity in the home because of a sharp decline in market values. 6- What is the Real Estate Transfer Disclosure Statement and who is responsible for providing it?
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