buyer randy makes an offer to purchase

C. Payments will not be enough to retire the loan. 4- What items are not covered by any title insurance policy? C. Explain your marketing plan to the sellers. C. Shows property addresses that should be excluded from prospecting. How can you prepare your sellers for receiving offers? Use as little white space as possible. 8- Under what conditions may a landlord enter a tenants property? A. 6. A borrower cannot qualify for a conventional loan unless he or she can make a 20% down payment. California: Real Estate Practice Ch12 Quiz with no answers. B. 9 of 10 When you believe an offer is both fair and reasonable but it does not meet the sellers asking price, you should: A. 9 of 10 Janet is an unlicensed assistant. 3 of 10 Jake has received two offers on one of his listings. The offer that has the shortest closing date, Answer: B- The offer with the highest price that is the most likely to close. Before completing the form, discuss the following important points with the home seller: Price. 4. Properties are very liquid and can move quickly. 5 of 10 Alice has decided that she will specialize in selling farm land. How should licensee Fred handle this offer? B. She sold the property and several months later the buyer sued Pam for not disclosing the problem. A. Mike has changed jobs six times in the past six months. When Bill pulls in front of the home, Linda decides immediately that she doesnt want to see the inside. 7 of 50 Glenna and Amanda just bought their first home. A. 5 of 10 When all members have unlimited liability for debts and obligations of the group, the organization is a: 6 of 10 What is the foremost reason people invest in property? 69,200 the buyer is not allowed to make a counteroffer. What kind of closing technique is Jim using? If a seller is in a multiple offer situation, how do you determine the best offer? Offer to mail the caller a set of fliers on interesting properties. C. How much time the licensees must spend in the office. Seeking buyers for your listings B. B. Bob writes the offer but is too embarrassed to submit it. C. Make up some statistics to share with the Bowers. 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.. 28- Abby applies for a federally-related loan to purchase a home. C. Tell them that this home is an exceptional buy and encourage them to look anyway. Who is responsible for removing the lien to clear the title? To insure loans made by approved lenders, D. To sell loans to other secondary mortgage marketers. 4 of 10 Once an offer has been accepted, the agent should do all of the following except which? 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. 4- What are the major areas of newspaper leads? A buyer wants to take the offer to an attorney to review it. Norm gave Pat a $500 earnest money check. 3. $5,500 the first year, plus a maximum 2% increase in market value per year, B. The offer with the fewest contingencies 2 of 10 All of these statements are true except which one? B. FSBO sellers believe they will save money if they sell themselves. 92- Which of the following situations is not exempt from the seller disclosure requirement? C. Have keys made for company listings. Mary writes a letter rescinding her offer and hand delivers it to Sam Sunday night. 63- Jennys home appraised for $550,000. What is the body of law that governs negotiable instruments? 2 of 10 Which of these statements is true? What is the status of the contract between Sam and Mary? The advertiser can be sentenced to up to a year in prison. 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. Sharon and Steve have just taken a second mortgage on their home. Next, determine the remainder of the loan; $185,000 - $40,000 = $145,000. 105- Agent Alice has received an offer that she believes is not in the sellers best interest. 5 of 10 RESPA applies to all of the following EXCEPT which? Ashley should end this relationship by, : asking the seller to sign a mutual release. What should Bob do? A broker might need to change the layout of the office to make the aisles wider for clients in wheelchairs. The difference between what Sara owes and what her home is worth is known as what? 1 of 10 Which figure represents the amount of income available as a return to an investor? At the time the agreement is signed. Change the locks on the tenants apartment. 4. 3 of 12 All of the following are primary mortgage market lenders except which? View an objection as the buyers request for more information. B. The loan value is based on the appraised value, not the sale price. C. Participate in a tax shelter program. A. Three days later, the agent shows the property; at that time the customer reveals her financial abilities and motivation. The sales agent should: Write a counteroffer stipulating the sellers' request. D. Broker Tom has only limited responsibility for the actions of his licensees. Broker Bob has a listing with Sam Seller and calls Sam to tell him Bob has received an offer from a buyer. Ordinary china is very fragile. 8. 1 of 10 Which of the following types of agency is not allowed in California? buyer randy makes an offer to purchase. 37 of 50 Which of the following economic characteristics is true? A buyer has obtained a mortgage in which the LTV is 95% of the first $40,000 of the sale price and 90% of the remainder of the sale price. It never was effective since Sam had not notified Mary of the acceptance. A. C. The seller did not disclose the problem on a sellers disclosure form so Pam is off the hook. There are several steps in calculating the answer to this question. D. Call the sellers immediately and let them know you wont be coming by. A broker may require licensees to carry high levels of automobile insurance. A. B. Sandy and Bill are putting 30% down on their home purchase. B. I will do two practice listing presentations per week with an experienced agent for the next two months. A secondary bid for a property that is for more than the first offer B. A. A. A buyer mails an offer to an out-of-town seller. 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? A. Generates leads for new listings. cross elasticity of demand for train rides with respect to the price of a plane ride B. B. 8 of 10 Which of these is a free form of advertising? 4- What is a good method for estimating what a seller will net from the sale of the property? C. There is a 6-month pre-payment penalty for paying off the loan early. B. B. 47- Which of the following duties is not a permitted activity for an unlicensed personal assistant? The interest rate will increase gradually over time. In the past year they have referred two dozen people who have purchased flooring from New Age. 3 of 10 Sara just bought her first new home. 5 of 11 Which of these statements is true about a CalVet loan? 4 of 10 Which of the following is NOT a condition of the safe harbor test? \text { Annual cost of scrap materials } & 286,000 \\ 11- Broker Jill has an agreement with seller Alice that says Jill will receive compensation if anyone except Alice sells Alices home, what kind of agreement is this? 9 of 11 Lenders can charge all of the following except which fee when a borrower gets a loan? D. Lends good visual support to what the agent is saying. The borrowers family in case of his or her death, B. C. Present Alexs offer first since it came in first. 3- When preparing a competitive market analysis, what categories of homes should an agent research? C. Mike has been late with his rent payments seven times in the past year, D. He had a serious physical altercation with his downstairs neighbor. A. I will complete the GRI certification in the next four years. 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? California: Real Estate Practice Chapter 14 Quiz with no answers. C. Present the $208,000 offer and the $200,000 offer together at the same presentation meeting. buyer randy makes an offer to purchasei miss you text art copy and paste. 3- When preparing a competitive market analysis, what categories of homes should an agent research? 2- What does Proposition 58 state? Present the offer and tell the seller that the check needs to be held until June 30. Entails entering into two agreements simultaneously. 1- What is important to know about unlicensed real estate assistants? Nam risus ante, dapibus a molestie consequat, ultrices ac magna. 10- Which of the following prospecting techniques do you have to use carefully because it has tended to upset people in recent years? A. Retain the check for use with a future sales contract offer. This is not true of which duty? 5 of 10 What would be the least effective way to get to know your buyers needs? Answer: B- Encourage the buyer to get the attorney to review it quickly. C. The Bryants have not received any feedback from any showings in the past month. PRACTICE QUESTIONS), (correct answers will be revealed with correct subscription). A. The other 75% came from an hourly wage paid by Tami. 1- What is goodwill as it relates to a business? Once the Offer is signed by the Buyer and the Seller, and the contained contingencies are met, it then becomes a legally binding agreement. During a phone call, a salesperson discusses showing a property to a prospect. 76- Mark believes he has been discriminated against during his home search. Courtesy of RealtyPact. D. If the buyer rejects the first counteroffer, the seller can accept the first offer. One offer is for $208,000; the other is for $200,000. 84- Four years ago, Sam purchased a vacant lot for $10,000. 1 of 10 Which item is not covered by CLTA, ALTA or ALTA-R insurance policies? Possession date. B. It is determined by who pays the compensation. Not waste anymore time on this house, the buyer will never make an offer. D. The monthly payments increase overtime. Which statement is TRUE? Make no recommendations and let the sellers decide on their own. C. I will open my own office within nine years. The couple now has. B. Answer: A- Proceed as if the buyer has decided to make an offer. 16 of 50 When doing research to recommend a reasonable listing price for a home, the most critical part of the research deals with analyzing: C. Listing prices of homes that expired unsold, D. Selling prices of recently sold homes. Nam lacinia pulvinar tortor nec facilisis. Hes no longer interested in seeing the inside and Marge agrees. How should Jan's licensee handle the offer? C. Once you set a goal you should never change it. \text { Annual cost of quality training } & 456,000 \\ C. Once filed, it remains until terminated. 19 of 50 When doing a competitive market analysis, the recently sold properties you include should have sold within what timeframe? Covers more than one piece of property. 1- What is an important thing to remember about listing agreements? 51- Which statement is true about a homeowners exemption? What approach can Greg use to discourage the person from calling other agents? D. The advertiser must prove he was grandfathered in as a licensee. 7 of 10 Which disclosure form gives detailed information about the propertys condition? Explain. The borrower makes payments of interest only over the term of the loan. D. Recommend that the seller delay response to make the buyer nervous and then submit a counteroffer. A. Brenda must follow all of Jims instructions. B. Newsletters can be a very effective advertising forum for niche marketers. 10 of 10 Which proposition limited the maximum amount of tax on real property? The borrower makes payments of interest only over the term of the loan. 9- Which California Fair Housing Law Prohibits discrimination based on sexual orientation of source of income? C. The home sits on an earthquake fault zone. D. Tim and Gail have qualified for an FHA loan. Which statement is true? 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. Mortgage bankers bring borrowers and lenders together. 2 of 10 How long must buyers and brokers keep the documentation on a foreign sale? D. The borrower gets a note in exchange for a mortgage. Which of the following statements is true? California: Real Estate Practice Ch4 Quiz with no answers, answers will be revealed with proper subscription. 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? A. The listing price of a house is $139,900. 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. 46 of 50 Greg grew up in and lives in a rural area. A. 100 4- What is the agreement that a broker can enter into with a buyer? A counteroffer by a seller to a buyer turns the seller from offeree to offeror. C. Clearly written contractor agreement must exist. (Who, Whom) has been selected as the team captain? 41- Agricultural land includes all of the following EXCEPT which? C. Recommend a counteroffer back to list price. 5 of 10 Mike bought his home last year for $150,000. B. 6- Whats important to know about the Liquidated Damages paragraph? The offer with the highest price that is the most likely to close First mortgage on a single-family home, C. Primary mortgage on an office building, D. Settlement charges on a shopping center. 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? Broker Bob has a buyer who has seen a property twice and seems ready to make an offer. 3- Differentiate between mortgage brokers and mortgage bankers. 102- What is the minimum period of time over which the owner of a commercial building can depreciate the improvements? What kind of loan do they have? Who will pay the points? Next, calculate the points charged; $168,500 x 0.02 = $3,370. 6 of 10 In the listing agreement, a seller can choose to decline/disapprove all but which of the following items? Tell the buyer about the other offer and urge the buyer to skip the attorney. B. Sexta, 26 de novembro de 2021 . 10 of 10 When a tenant agrees to pay all taxes, insurance, maintenance and repairs, that tenant has what kind of lease? Follow the below steps to write a solid purchase agreement: Step 1 - Buyer and Seller Details. Goodwill is an intangible asset that results from the reputation of the business. 2- When establishing rapport, whats one of the best ways to get to know your buyers? 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? Buys conventional, FHA and VA loans. 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 D. Administers special assistance programs. When you meet with your sellers after you obtain the listing, what is one of the first things you should share with them to get them involved in the process? D. Offer to call the prospect when new listings that meet his or her criteria come on the market. The homebuyer, on the other hand, is hoping the transaction will close because the home is in A-1 condition and perfect. 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? 6- How does a limited partnership differ from a general partnership? What is the key feature of this type of loan? From the 100' frontage, subtract the 10' per side setback (100' - 20' = 80'). What is meant by the term sphere of influence? D. The UCC is a body of law that standardizes a number of business practices. He refuses to rent the other unit to families with children. plane rides is 0.5 and the price elasticity of demand for train rides is 0.2. A. Which of these forms of advertising is she most likely to avoid? It took effect when Sam accepted Mary's offer. buyer randy makes an offer to purchase. What do many firms do to avoid confusion with their advertising plan? \hline \text { Annual inspection costs } & \$ 155,000 \\ The home comes equipped with all furnishings. D. Supply cannot be moved to a high demand area. A. In which stage of the General Adaptation Syndrome *(GAS) are bodily resources drained and stress hormones depleted? 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. What should Alice do? Answer: D- It was never effective since Sam had not notified Mary of the acceptance. Housing and Community Development Act. 33 of 50 Sal bought a personal residence for $150,000. C. Be sure all requested inspections have been ordered. What should you keep in mind when developing your marketing plans? Q: Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. What is important to remember about capturing the readers attention? What should Pat do with the earnest money deposit? 4- Amanda calls broker Tim to schedule a showing of one of his listings. 81- Jake has decided to specialize in working with clients who purchase schools. 5 of 10 Which of the following is not a source of information for professional ethics codes? B. The purchase price, plus improvements, C. The fair market value at the time of sale. The purchase price, plus improvements 3- What signals do buyers use to indicate they may be willing to make a purchase? 10 of 50 There has been very little interest in the Bowers home this past week. 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. Tommy asks his real estate agent to prepare a lease agreement instead of a purchase agreement now that he has decided to rent rather than buy. B. D. Avoid negative comments while hes inside the home. Which statement is true ? What should Bob do? Executor Fred calls Agent Tom to list a vacant tract of land, instructing him to list the land for $700,000. 4- Why is coordinating escrow so important and how can an assistant help? 2- What types of office administration tasks are important for a licensed assistant to perform? 3 of 10 Which paragraph of the purchase agreement states that if the buyer defaults after acceptance, he or she may be liable for the brokers commission? 86- Which of the following is not considered a benefit of investing in real estate? 8- What does the Water Heater Statement of Compliance address? 6- According to California real estate law, how often must a broker balance his or her trust accounts? Tom thereupon submits a full-price offer to the owner and purchases the property. B. The buyers have been pre-qualified by a lender. One day later. 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. buyer randy makes an offer to purchase. Rate of return is computed by dividing the annual net income by the rate of return. Which of these ad headlines would probably be the least effective for this home? To purchase conventional, FHA and VA loans, D. To insure conventional, FHA and VA loans. 9- Define a purchase money mortgage. They were counting on a full-price offer and are very disappointed. 93- Jim has created a nice property flier for the James home. A. 77- Which of the following Internet pages might not be of particular interest to buyers? 3 of 10 All of these items are important to include on your weekly activity report except which? What should agent Phil do? The home is listed at $210,000. 9 of 10 Which of these words or phrases might be considered discriminatory when used in advertising?

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