7- How can a builder help you generate leads? Name and define the two forms of advertising. 2 of 10 All of these statements are true except which one? 25 of 50 Mortgage lenders are required to disclose financing costs and annual percentage rate to the borrower under which law or regulation? C. Brenda could be liable for a breach of the listing terms. 78- Nancy bought her home last year for $425,000. 5 of 10 What would be the least effective way to get to know your buyers needs? List the details of all parties involved. buyer randy makes an offer to purchase Why or why not? D. Pam is has no duty to investigate and may rely on the opinion of a heating professional or home inspector. C. The home sits on an earthquake fault zone. C. FSBO sellers who list with an agent will pay their own advertising costs. D. Written escrow instructions must include a statement with the brokers name, indicating he or she is a licensed real estate agent. 90- Marsha has been keeping track of the effectiveness of her advertising campaigns. They agree on a price and both parties execute the contract. Retain the check for use with a future sales contract offer. Seller Stuart calls buyer Bruce, stating that he has changed his mind and now has no intention, under any circumstance, of coming to the closing table to complete the transaction set forth in their executed contract. 4- What are the major areas of newspaper leads? D. Once the offer or counteroffer is accepted and the offeror has been notified, a legal contract is formed. B. It became a contingent contract when Sam accepted Mary's offer. 2- When establishing rapport, whats one of the best ways to get to know your buyers? Amanda loves the home and wants to make an offer. What is the key feature of this type of loan? C. Advertising in the telephone directory is cost effective because the directories can reach every home in the marketing area. 1. Broker Bob has a listing with Sam Seller and calls Sam to tell him Bob has received an offer from a buyer. Call Us Today! 7- What is the difference between an FHA loan and a VA loan? She put 20% down and got a mortgage for the remainder. 21- Which form of advertising is considered the most cost-effective method for selling a home? B. Offer to Purchase Form - Fill Out and Sign Printable PDF Template | signNow 11. 2- What are some tax benefits associated with investing? 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? 1- When preparing to present an offer to the sellers, what kinds of supporting information can be helpful? A. Mike has changed jobs six times in the past six months. This mortgage type is popular among the elderly. The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. Which of these ad headlines would probably be the least effective for this home? whether the property's buildings encroach on neighboring land, A right that goes along with the ownership of real property is, Plants and trees cultivated for harvest best describes. 2- Explain the difference between the primary and secondary mortgage markets. 2. Return the earnest money to buyer Norm. 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. How should Jan's licensee handle the offer? Amanda loves the home and wants to make an offer. 5- What should a good management contract contain? Installation of central air conditioning, D. Addition of a tenant laundry facility. 7- Name three benefits of listing a home with an agent that you could share with sellers. 22- Jane sold her personal home for $148,000. C. It must specify a definite termination date. B. B. C. Explain your marketing plan to the sellers. The loan will be distributed to them gradually. A. 6- When is a lender required to terminate a borrowers private mortgage insurance? He refuses to rent the other unit to families with children. Randy gives Tom an earnest money check f Randy gives Tom an earnest money check f Q: according to the law governing mortgage loan brokers what is the maximum commission Broker Dan can charge for securing a B. 1- What is an important thing to remember about listing agreements? D. Collecting information and pre-qualifying buyers yourself is the easiest and best approach. A. 5- If lenders intend to sell mortgages in the secondary market, what must they do? Hometown Real Estate, receives $100.00 each time they refer a customer to New Age flooring. C. Payments will not be enough to retire the loan. B. B. A. Youll know how much house they can afford. What would we call Hannah? C. Shows property addresses that should be excluded from prospecting. Mary makes an offer to purchase a duplex from Sam. Answer: A- Write a contingent counteroffer, Which of the following statements best describes a backup offer? sam neill laura tingle split plane rides is 0.5 and the price elasticity of demand for train rides is 0.2. In addition to agent and MLS home tours, what are some other ancillary tools you can use? What percent of commission the licensees can charge. She sold the property and several months later the buyer sued Pam for not disclosing the problem. An apartment building for a vacant lot, B. Bob writes the offer but is too embarrassed to submit it. Executor Fred calls Agent Tom to list a vacant tract of land, instructing him to list the land for $700,000. What should Tim do next? 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? B. I will practice my listing presentations. How should licensee Fred handle this offer? What kind of agreement is this? 80 feet of frontage x 160 feet of depth = 12,800 square feet allowed by local ordinance. 18- In a transaction that involves the purchase of a business, what document functions in the same way as the deed in a personal real estate transaction? Present the $200,000 first and recommend rejection. 6- According to California real estate law, how often must a broker balance his or her trust accounts? 4- How is property management seen as a risk to investing? D. Call the sellers immediately and let them know you wont be coming by. 2. They will have a number of new expenses as a result of this purchase. How to Write a Purchase Agreement? 9 of 10 Which of the following statements is not true? Retired persons are a good source of neighborhood information. Ask the caller if he or she would like to receive e-mails on newly listed properties. 3- When handling a telephone inquiry, why should you limit the amount of information you give out about the property? Entails entering into two agreements simultaneously. D. Magazine ads are significantly more expensive than newspaper ads. 4- Agent Greg receives a call about one of his firms ads. Solved Randy and his real estate agent, Bob, enter into a - Chegg A. 2- What is floor time and why is it important? 2- What types of office administration tasks are important for a licensed assistant to perform? Authors Channel Summit. A. C. Knocking on doors never requires special permits. B. 73- Which of these is not a buying signal? 50- Harry has some buyers that he believes are ready to make an offer. 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. 3 of 10 Sara just bought her first new home. The second mortgage has now become the primary loan. 9 of 10 All of these might be a buying signal except which? B. A secondary bid for a property that is for more than the first offer A. What California Fair Housing law has the manager violated? 3- For whom do property tax exemptions exist and for how much? D. Is permissible in amounts under $50. buyer randy makes an offer to purchase - ftp.ivnowandzen.com A rental condominium for a recreational vehicle. C. The buyers are interested in another property. Instead, Bob terminates the relationship with Mary. 1 of 10 All of the following are good newspaper sections to read for prospecting except which? 8 of 10 What does the paragraph on repairs state? 6- What is the ultimate result of using the Closing Disclosure form? B. Greg has put himself in a potential dual agency situation. 6 of 10 Which of these is an emotional reason that buyers buy property? C. The owner has 45 days to pay the new property taxes. California: Real Estate Practice Ch3 Quiz with no answers. 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 lender must furnish a copy of the CFPB booklet to Abby no later than the third business day from which date? C. Payments will not be enough to retire the loan. Give the prospects a black copy of a purchase agreement to look over. A. Lead-based paint was used in the home. C. Deposit into the brokerage business account. wigan warriors west stand chef buddy microwave egg cooker instructions; telemundo la casa de los famosos en vivo 1- The amount that a seller takes away from a sale is termed: 2- Which of the following best describes prospecting? 65- Which of the following items is usually not prorated at closing? 5 of 10 RESPA applies to all of the following EXCEPT which? buyer randy makes an offer to purchase The owner of the property is HIV positive. 1 of 10 Which of the following types of agency is not allowed in California? The advertiser can be sentenced to up to a year in prison. 4- Why is it important to talk to the sellers about the buyers? A. D. The lender assumes Tim and Sues income will rise over the first few years of the loan. C. They can make payments directly to the original lender. D. A shopping center might have to remodel their public restrooms. How to make a Best Offer. Before the sale can get finalized, the owner would require you to first meet certain conditions. There is nothing that can offset this problem. A. C. Moving closer to the agent to get a better look. 7- What does the net operating income of a property represent? 28- Abby applies for a federally-related loan to purchase a home. Donec aliquet. 87- What information can you gather from the newspaper to help develop a Prospecting Plan? What should Bill do? Donec aliquet. 3. The broker will not provide any. 6 of 10 Which of these is not a tool to help evaluate advertising effectiveness? The other 75% came from an hourly wage paid by Tami. \text { Annual rework cost } & 34,679 \\ 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? He asks, Which one of the children gets the basement bedroom with the private entrance? What kind of closing technique is Tim using? 23 of 50 Which of the following statements best describes what happens in a mortgage loan transaction? He pays rent for occupancy, plus maintenance and operating expenses. D. Avoid negative comments while hes inside the home. D. Arrange to meet the prospect at your office. 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. The purchase price, plus improvements, C. The fair market value at the time of sale. 6- What is the main reason sellers choose to sell their property without an agents help? What kind of mortgage are they looking for? B. FSBO sellers believe they will save money if they sell themselves. This is not true of which duty? B. C. Identifies buyers for other properties. D. Discrimination on the basis of race is strictly prohibited, meaning no exceptions whatsoever.