38- When using the straight-line method of depreciation, each year of economic age is given a rate that, A. Varies each year according to a table provided by the IRS, B. 5- Define the term loan-to-value ratio. 12- What are grant programs typically used for? they are effectively terminating the original offer. The buyer was responsible for making the discovery, so Pam is therefore liable. A. Jim specializes in clients who want to buy restaurants. A. Lead-based paint was used in the home. What should Tom do? Which law extended discrimination to include handicap and familial status? A. A. 29- Which of the following is not a good direct mail technique? Give the sellers a copy of some homeowners tips. 2 of 10 When can a landlord enter a tenants property to make repairs or show it? 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? B. 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.
A. C. Eric may not represent the sellers interests to the detriment of the buyer. 24 of 50 Tim thinks his buyers are ready to make an offer. 10- Which disclosures are NOT required to be made when selling residential property? 59- Which of the following is a sellers request that an agent cannot honor? 5 of 10 You should try to attach a rider strip to your For Sale sign that has: 6 of 10 If there is no interest in the property on a given week, the agent should: A. D. Chris is a buyer's agent. Harry has some buyers that he believes are ready to make an offer. California: Real Estate Practice Ch10 Quiz with no answers. 7 of 10 Which of the following is a possible benefit of investing in real property? 1. Suggest that the buyer look at a different house. 4- Describe a reverse annuity mortgage. The ordinance also requires a 10-foot side set back. Does not need to be familiar with office policy.
Free Purchase Agreement | PDF & Word | Legal Templates The term of the loan can be shortened. Practice exam for California Real Estate Practice Class, Answers will be revealed with the correct subscription. D. The loan must be repaid before the borrowers death. 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?
Offer to Purchase Form - Fill Out and Sign Printable PDF Template | signNow C. It must specify a definite termination date. This action is legal but very unprofessional. Please remove your shoes before entering the home. A. Which of the following statements is true? A counteroffer represents a rejection of an offer. D. Give the sellers the price over the phone so that they can think about it before you meet with them. Display lots of family photos to impress potential buyers.
buyer randy makes an offer to purchase - cspconlutas.org.br B. 58- Mortgage lenders are prohibited from discriminating in giving credit to prospective borrowers based on race, color, religion, national origin, sex, marital status, age or dependency on public assistance under which law or regulation? Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. D. Exclusive-authorization-and-right-to-sell agreement. 6 of 10 Which of these is an emotional reason that buyers buy property? A. Prior to bringing an offer to purchase. It can provide a steady stream of future clients. A. I will complete the GRI certification in the next four years. 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? The broker will owe fiduciary responsibilities to the seller as well as the buyer. C. Is not necessary if the verbal presentation is strong. C. Refuse to accept the offer and check. 4- Whats a bonus closing and whats important to keep in mind about this technique? C. Identifies buyers for other properties. She tells them they would not be comfortable in this home and she shows them a list of homes in other neighborhoods she thinks would be more appropriate. He succeeds in setting up an appointment to meet with the caller. Giving information about a listing to prospective buyers. What is the market value of the property? D. The first and second mortgage will be rolled into one. Which of these statements is true about the wraparound mortgage? Wait until next week to send an activity report, hoping things will pick up. 8- Why is it important to have a written prospecting plan? Last year, about 25% of his income came from sales commissions. 45- Kirk wants to get an FHA loan. B. Not waste anymore time on this house, the buyer will never make an offer. Goodwill is an intangible asset that results from the reputation of the business. 10 of 10 Which of these is not an exemption to fair housing law? C. Advertising in the telephone directory is cost effective because the directories can reach every home in the marketing area. 5 of 10 What would be the least effective way to get to know your buyers needs? 10 of 10 All of these activities are appropriate to do within the first few days of obtaining a listing except which? buyer randy makes an offer to purchasewhy do my fingertips smell like garlic PB Nitom Blog . B. 11- What is a public report and when must it be provided? 5- How do life insurance companies get involved in the investment market? Covers more than one piece of property. 64- Which of the following is not a form of personal advertising? 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. Receives special tax considerations. Plastic dishes last a long time because they are unbreakable. A religious organization providing housing to members only, C. The sale of a single-family home by an owner who owns five residences, D. Rental of a unit in an owner-occupied four-family flat. At the end of the term, the loan balance will be negative. 9 of 10 Which of the following statements is not true? B. 8- When studying the characteristics of an area in which an investment property is located, what factors should the investor look at carefully? 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. 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. A. Why or why not? If Broker Tom procures a buyer for Jack, Tom will get the commission and Alice will not. What should Bill do? B. FSBO sellers believe they will save money if they sell themselves. Now, calculate the amount by which the remaining $145,000 is reduced; $145,000 x 0.10 = $14,500 (100% - 90% = 10% not covered). How to Write a Purchase Agreement? A. B. D. Tim and Gail have qualified for an FHA loan. 5- What kind of newspaper ad could you place to solicit a listing? Skip the activity report for that week. 6 of 10 A buyer calls your office to inquire about a property he saw advertised. C. I will open my own office within nine years. 5 of 10 All of the following are valid listing agreements. D. Is best left to experienced brokers. 84- Four years ago, Sam purchased a vacant lot for $10,000. Allows the agent to determine community market trends. 2 of 10 A competitive market analysis contains information about all of the following items except which? What are some important tips for home tours? 7 of 10 Bill and Brenda bought their home for $150,000 seven years ago and have lived in it ever since. 1 of 10 Which of the following actions by an agent would most probably upset the sellers? 2- Who needs title insurance and why? 3- What is a good approach to use when contacting the owner of an expired listing? C. Real Estate Settlement and Procedures Act. AnnualinspectioncostsAnnualcostofscrapmaterialsAnnualreworkcostAnnualcostofqualitytrainingAnnualwarrantycostAnnualtestingcost$155,000286,00034,679456,0001,546,000543,000. 8- What is the major difference between a CalVet loan and other loans? C. Clearly written contractor agreement must exist. 9 of 50 Which of the following is a credit to the seller on the settlement statement? 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. If something truly is a deal breaker and a line in the sand for you, that is fine, but stick to it.
buyer randy makes an offer to purchase 11- Greg and Joyce purchased a home from the builder who offered to pay $5,000 at closing as an incentive to get them to buy. 45 of 50 What is the Federal Housing Administrations primary role in the mortgage market? 3- When preparing a competitive market analysis, what categories of homes should an agent research? 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? 7 of 11 In which of the following types of loans is the payment allocated only to interest? The difference between what Sara owes and what her home is worth is known as what? B. Sandy and Bill are putting 30% down on their home purchase. Now you have the numbers to plug into the loss formula; Percent of Loss = Loss / Cost or $13,990 / $153,890 = 0.0909. They were counting on a full-price offer and are very disappointed. She is probably using all but which of the following tools? California: Real Estate Practice Ch9 Quiz with no answers. D. The lender assumes Tim and Sues income will rise over the first few years of the loan. 76- Mark believes he has been discriminated against during his home search. 69- According to ECOA, lenders cannot discriminate against potential borrowers on the basis of all but which of the following? 4. C. Tangible assets transferred in the sale include inventory, fixtures and equipment. D. Make the headline bold and all caps. 92- Which of the following situations is not exempt from the seller disclosure requirement? Is critical to your success in real estate.
The steps to make an offer to purchase | DuProprio 8- When does a purchase offer become a legal contract? 3 of 10 How long must trust account records be kept? What does the net operating income of a property represent? Study the other terms of the offer so that you can maximize the offers benefits and minimize the lower price. What is the major difference between an employee and an independent contractor? Step 2. A. Try to get Sam to accept the offer. "Let's make a low ball offer?" 2- What exception exists to the duty of obedience when working with a client? 8 of 10 What does the paragraph on repairs state? 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. 51- Which statement is true about a homeowners exemption? 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. Example 1. 9 of 10 Which of the following items would not usually be included in a presentation manual for buyers? How would Grants lease at this time be classified? A. 60- Seller Tom has an agreement with Broker Bill, Broker Jim and Broker Joe. 2- What is important to remember about multiple offers? A. 4- What items are not covered by any title insurance policy? 70- Which of these items would be a credit to the buyer on the settlement statement? 33 of 50 Sal bought a personal residence for $150,000. A. The borrower gives the lender a note and a mortgage in exchange for the funds. fairbanks ice dogs standings . Underline the correct pronoun in parentheses in the following sentence. C. The owner has 45 days to pay the new property taxes. A. The lender gives a mortgage to the borrower and gets funds in exchange. What should Bob do? 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. What California Fair Housing law has the manager violated? 6- What is the Real Estate Transfer Disclosure Statement and who is responsible for providing it? 9 of 10 A person who believes he or she has been discriminated against has how long from the time of the alleged violation to file a suit in a state or federal court? 47- Which of the following duties is not a permitted activity for an unlicensed personal assistant? 15 of 50 Agent Will has had a listing with the Bryants for 6 weeks. 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. Which would NOT result from the exercise of police power? 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. 1 of 50 Which of the following newspaper information is not helpful in developing a Prospecting Plan? 37 of 50 Which of the following economic characteristics is true? : disclose the material relationship with the buyer on the dual agency disclosure, A man and woman sign a purchase contract, which is subsequently approved and signed by the seller. rickey smiley and grandson videos A. D. Offer something valuable to the reader. 4- What is the agreement that a broker can enter into with a buyer? 19 of 50 When doing a competitive market analysis, the recently sold properties you include should have sold within what timeframe? 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? 43- The Equal Credit Opportunity Act (ECOA) requires lenders to: A. 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? 3- What signals do buyers use to indicate they may be willing to make a purchase? Can be used in place of a verbal presentation. Agent Sally tries to match her clients with neighborhoods that have similar cultural and racial backgrounds. 25 of 50 Mortgage lenders are required to disclose financing costs and annual percentage rate to the borrower under which law or regulation? Select Review offer. Refusing to make loans based on the racial composition of a neighborhood is called. A. Broker Bob has a buyer who has seen a property twice and seems ready to make an offer.
Willie Watkins Funeral Home Net Worth,
Butcher Block Style Table Top,
Articles B