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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. Once you've found an item you want to buy that accepts Best Offers, here's how to make your offer: Choose Make Offer. B. $5,500 the first year, plus a maximum 2% increase in market value per year, B. California: Real Estate Practice Ch5 Quiz with no answers. Call Us Today! 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. Nam lacinia pulvinar tortor nec facilisis. 26 of 50 Veteran Bill has applied and been approved for a non-VA-guaranteed CalVet loan. A. Properties are very liquid and can move quickly. D. Have the broker send a thank you for listing letter to the sellers. 42- Alice is planning her career and setting her goals. 2- What exception exists to the duty of obedience when working with a client? A. 51- Which statement is true about a homeowners exemption? 61- Bill and Sue secured a mortgage loan that is tied to an index which fluctuates over the life of the loan. C. Alice is getting a conventional loan and making a 15% down payment. Hikayemiz; Misyon & Vizyon; Kalite Politikamz; Sertifikalarmz; ISPM-15 aretleme zin Duyuru; Sosyal Sorumluluk; Hizmetlerimiz 6 of 10 Who typically presents an offer to the sellers? 8- What does the Water Heater Statement of Compliance address? 100- What does the Real Estate Disclosure Law refer to? The original loan becomes subordinate to the wraparound. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. B. how to type spanish accents on chromebook keyboard; one way process of communication; 47 brand franchise fitted hats; ncaa softball coaches' salaries 2019; albert pujols home run record; How are properties affected by the local economy? B. California: Real Estate Practice Ch9 Quiz with no answers. B. 5- What should a good management contract contain? D. Call the sellers immediately and let them know you wont be coming by. 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? 1- What is an important thing to remember about listing agreements? C. Give the tenant a 3-day notice to pay or quit. The other 75% came from an hourly wage paid by Tami. D. Meet with the buyers lender to ensure theyre getting a good deal. Negotiate agreements regarding commission structuring. D. Lends good visual support to what the agent is saying. 10- Which of the following prospecting techniques do you have to use carefully because it has tended to upset people in recent years? A. A broker may require licensees to carry high levels of automobile insurance. Only after receiving the tenants consent. When Bill pulls in front of the home, Linda decides immediately that she doesnt want to see the inside. 8 of 10 An association of two or more people who combine financial resources to achieve investment objectives is: 9 of 10 Which statement is not true about a Real Estate Investment Trust? Sample Final Exam for California Real Estate Practice Questions with no 7- In the initial meetings with the prospects, the agent should do all of the following except which? 9 of 10 Which of the following statements is not true? Buyers looking at FSBO homes are usually looking for a bargain. Answer: C- Ask the buyer if the buyer would like to make an offer taking the roof age into account. C. Sharing all visitor comments two weeks before the listing ends. D. The casement windows have broken seals. Who should Tommy recommend the owner consult with before making a decision? D. A shopping center might have to remodel their public restrooms. Needs a license to perform activities that are not strictly administrative in nature. 6 of 10 Which of the following is not a true statement? lumberton man killed; guggenheim annuity rates. What should Bob advise Sam? 31- Patrick has a written independent contractor agreement with his broker Tami. 6- When is a lender required to terminate a borrowers private mortgage insurance? For what type of loan is the borrower applying? 4 of 10 Which of the following would be the least desirable phone handling technique? "No, you may lose the house." 36- Broker Eric secures a loan for buyer Paul. B. B. Jim Sharp is purchasing his fathers home. 8 of 10 A lease that has no time limit is an: 9 of 10 Which of the following represents an intangible business asset? The broker will owe fiduciary responsibilities to the seller as well as the buyer. What is the market value of the property? 8 of 10 Which of these is a free form of advertising? Skip the activity report for that week. D. The UCC is a body of law that standardizes a number of business practices. Change the locks on the tenants apartment. B. A. At the end of the term, the loan balance will be negative. C. Present Alexs offer first since it came in first. A. Ordinary china is very fragile. D. Must start out as a part-time employee. His depreciation was $2,500 per year. How would you classify this essay (high or low comedy)? Encourage Sam to make a counteroffer at 2% below Sam's asking price. 42 of 50 Alex makes an offer to purchase one of Bills listings. Make sure all required disclosures have been done. A. A. 10 of 10 When a tenant agrees to pay all taxes, insurance, maintenance and repairs, that tenant has what kind of lease? 43- The Equal Credit Opportunity Act (ECOA) requires lenders to: A. Mortgage brokers do not lend money. Which of the following is Kirk himself not likely to do during the application process? A secondary bid for a property that is for more than the first offer You bought if for the listing price plus 10% and sold it for the listing price. What law creates an automatic lien on a commercial property, subject to the listing agreement? They sold the home for $450,000 and paid $30,000 in selling expenses, including the brokers commission. California Real Estate Practice Class Questions with no Answers for Preview (ALL R.E. 28- Abby applies for a federally-related loan to purchase a home. He just sold it for $13,000. D. Whether or not the licensees attend staff meetings. C. Exclusive-authorization-and-right-to-sell. 5 of 10 Which of the following would not be a reason to choose to be an assistant? 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. 14 of 50 The title report on a property shows there is a lien on the property. 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? Retain the check for use with a future sales contract offer. California: Real Estate Practice Ch12 Quiz with no answers. Who makes the payments to a claimant from the Guaranty Fund? B. Exclusive-authorization-and-right-to-sell agreement. C. Broker Harry deposits $1000 into his brokerage business account. 80- Which of the following is an example of commingling? D. Amanda smiles at Jim when she sees the whirlpool tub. C. Your plan for finding the buyer a home. This type of action might be viewed as: Buyer Frank has just signed a sales contract for a 2 million dollar property. The monthly net rental is $600. A buyer wants to take the offer to an attorney to review it. At time of license renewal, what is the renewal charge for a salespersons license? Answer: B- Licensee Fred should take the offer to the seller and determine if the escrow deposit is acceptable. B. Pam is not liable since it was summer and the heating problem was not obvious. Before completing the form, discuss the following important points with the home seller: Price. The definition of race was expanded to include ancestry. C. It creates an agency relationship. B. 6 of 10 In the listing agreement, a seller can choose to decline/disapprove all but which of the following items? 55- Greg is approved for a Cal-Vet loan. A. A. Present the $208,000 offer today and wait for a response from the sellers before he presents the other offer. Mary writes a letter rescinding her offer and hand delivers it to Sam Sunday night. Chapter 8: QUIZ QUESTIONS Flashcards | Quizlet Answer: D- Avoid telling him the price by setting up an immediate appointment. dota 2 annual revenue 2020. adam foote parents. The home has been listed for several months; so Pam does a CMA and determines that the offer is more than reasonable in todays market. A buyer mails an offer to an out-of-town seller. 3- A property manager can refuse to rent to applicant Mike for any of the following reasons except which? 44- Jim owns a gift shop in a commercial building. 7 of 10 If a broker receives a deposit check with a purchase contract, which of these is he not allowed to do? D. John expects his agents to spend 5 hours a week on unsupervised telephone duty. 3- What is the major difference between an exclusive-authorization-and-right-to-sell listing and an exclusive-agency listing? the buyer is not allowed to make a counteroffer. A. Executor Fred calls Agent Tom to list a vacant tract of land, instructing him to list the land for $700,000. 3- When making your presentation, what topics should you cover? B. 5 of 10 All of the following are valid listing agreements. A purchase offer is a binding contract between the buyer, the seller and their agents. She thinks they are really interested in one particular property, but when she approaches them about it, the buyer says, The price is too high. What would be a good response to that comment? 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. Mary wants to make an offer on a house that is 25% lower than the asking price. C. The definition of handicap was expanded to include use of guide or support animals for deaf and blind individuals. Give a discount to families with children. 7 of 10 How might probate information help in prospecting? 3 of 10 Jake has received two offers on one of his listings. 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. Answer: A- Proceed as if the buyer has decided to make an offer. Then present the $208,000 offer. The purchase price, plus improvements 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? Their first mortgage will get paid off immediately. Smoke Detector Statement of Compliance, D. Sellers Affidavit of Nonforeign Status and/or California Withholding Exemption. Give the prospects a black copy of a purchase agreement to look over. B. B. What should Jake do? 5- What actions can the sellers take regarding the purchase offer? Which of the following statements is not true? C. Greg has violated the duty of confidentiality to Kim. When You Should Make a Purchase Offer - The Balance Offer to Purchase Form - Fill Out and Sign Printable PDF Template | signNow 2. B. California: Real Estate Practice Chapter 17 Quiz with no answers. Which of the following would be the least likely place for them to obtain a loan? If a person feels like he or she has been discriminated against, how long does that person have to file a complaint? buyer randy makes an offer to purchase. Radio advertising is not as effective as other methods because listeners can be distracted by their activities and not hear the ads. Underline the correct pronoun in parentheses in the following sentence. C. Gather listing forms for her employer. D. The buyers love the landscaping improvements the sellers have made. \text { Annual cost of scrap materials } & 286,000 \\