buyer randy makes an offer to purchase10 marca 2023
What is the market value of the property? Rule F-21 Who should Tommy recommend the owner consult with before making a decision? 78- Nancy bought her home last year for $425,000. B. Once you've found an item you want to buy that accepts Best Offers, here's how to make your offer: Choose Make Offer. Give a discount to families with children. A. Establish a homes fair market value. B. 6 of 10 Which of the following is not a probable reason for a listing to expire without selling? How long does he have to file a complaint with the Department of Housing and Urban Development? 66- When doing a listing presentation which of the following items would you not describe to the owners as being a benefit of listing with an agent? 4- What do Fannie Mae and Ginnie Mae do that Freddie Mac does not? Enter your offer. How does ALTA-R differ from ALTA? What must Tim do? Select Review offer. 82- What is the minimum period of time over which the owner of an apartment building can depreciate the improvements? Buyers looking at FSBO homes are usually looking for a bargain. 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. A purchase offer is a binding contract between the buyer, the seller and their agents. 3. Person must be properly licensed. Housing and Community Development Act. 42- Alice is planning her career and setting her goals. B. Bob Broker represents Sam Seller. Share that information with the sellers. 33 of 50 Sal bought a personal residence for $150,000. They made $50,000 of improvements. D. Have the prospects sign the disclosure about agency relationship. B. Senior housing for residents 62 or older, B. C. The seller did not disclose the problem on a sellers disclosure form so Pam is off the hook. D. Hold both offers because he heard that a full-price offer is on its way. A. Answer: D- They are effectively terminating the original offer. B. Which is a true statement? 88- Sally and Dan must pay 2 points on their new $65,000 loan. B. 6- Whats important to know about the Liquidated Damages paragraph? 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. 8 of 10 A lease that has no time limit is an: 9 of 10 Which of the following represents an intangible business asset? 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 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? 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. 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. 60- Seller Tom has an agreement with Broker Bill, Broker Jim and Broker Joe. D. Gross income must be based on hours worked. What should Jake do? C. Regulating reserves of institutions with savings accounts only. 6- What is the main reason sellers choose to sell their property without an agents help? 2- When establishing rapport, whats one of the best ways to get to know your buyers? A week later, the salesperson takes a new listing and prepares an offer for her seller from her brother/client. 2 of 10 Which is not a true statement about the Americans with Disabilities Act? Covers more than one piece of property. 73- Which of these is not a buying signal? Which term is the process of joining several parcels of land into one larger parcel? B. Minimize expenses while maximizing profits for the owner. 40- Which of the following phrases should Salesperson Brenda avoid when writing an advertisement for one of her listings? 6- According to California real estate law, how often must a broker balance his or her trust accounts? 5- Under what circumstances can a loss on the sale of a personal residence be deducted from income taxes? 2- What is important to remember about multiple offers? Broker Ashley has been working for a seller for the past seven months. D. Visiting a neighborhood with a co-worker could make you feel more comfortable. The Haleys want to get a mortgage that will cover the purchase price plus all the furnishings. 9 of 10 Which of the following statements is not true? 83- Matt is computing the adjusted cost basis of his apartment building for income tax purposes. 8- When does a purchase offer become a legal contract? Sunday afternoon, Mary is driving around and finds a property she likes better. Give as much detailed information about the property as you can. 69- According to ECOA, lenders cannot discriminate against potential borrowers on the basis of all but which of the following? 8- What does the Water Heater Statement of Compliance address? B. I will do two practice listing presentations per week with an experienced agent for the next two months. D. Chris is a buyer's agent. 46 of 50 Greg grew up in and lives in a rural area. Now, calculate the amount by which the remaining $145,000 is reduced; $145,000 x 0.10 = $14,500 (100% - 90% = 10% not covered). 21- Which form of advertising is considered the most cost-effective method for selling a home? Broker Bob has a listing with Sam Seller and calls Sam to tell him Bob has received an offer from a buyer. Be a deal maker. 7 of 10 Which of the following is not a national real estate trade organization? 2 of 12 Which of the following statements is not true about the Federal Reserve? Why or why not? 6- How does a limited partnership differ from a general partnership? Answer: D- It was never effective since Sam had not notified Mary of the acceptance. What is the body of law that governs negotiable instruments? 7- What are the capital gains exclusions associated with the sale of a personal residence? 4 of 10 Which of these is not an important aspect of selling? Annualinspectioncosts$155,000Annualcostofscrapmaterials286,000Annualreworkcost34,679Annualcostofqualitytraining456,000Annualwarrantycost1,546,000Annualtestingcost543,000\begin{array}{lr} On what amount will he pay capital gains tax? A net listing is illegal in all states. B. The listing price of a house is $139,900. Bob writes the offer but is too embarrassed to submit it. How much did Sam gain or lose on the sale? 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. A. Authors Channel Summit. 5. A real estate investment business organized as a trust best describes a(n), Chapter 9 - Cellular Respiration and Fermenta, flash card for the first 25 math question, Operations Management: Sustainability and Supply Chain Management, Alexander Holmes, Barbara Illowsky, Susan Dean, Calculus for Business, Economics, Life Sciences and Social Sciences, Karl E. Byleen, Michael R. Ziegler, Michae Ziegler, Raymond A. Barnett, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese. A broker cannot use the word escrow in a fictitious name. If the lot measures 100' x 200', which is the total allowable square footage of a single story building? The other 75% came from an hourly wage paid by Tami. On what amount will they pay capital gains tax? D. Amanda smiles at Jim when she sees the whirlpool tub. The advertiser can be sentenced to up to a year in prison. A. C. Emphasize that this home is a great buy and it would be a shame for them to dismiss it without looking first. Tip: to find a certain word or key term, press at the same time, the buttons: California: Real Estate Practice Ch1 Quiz with no answers, Answers will be revealed with proper subscription. 98- Grant moves into his new office space while he awaits the completion of the negotiations of the lease terms. 3. B. Ken must obtain his own training. D. Written escrow instructions must include a statement with the brokers name, indicating he or she is a licensed real estate agent. If an item is already correct, write C on the line provided. 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? 8 of 10 Which of the following is a good direct mail technique? B. Certain homeowners may qualify for a $10,000 exemption. What is the most often used form of earnest money deposit? A. B. Set up a face-to-face meeting with the sellers as soon as possible. What is this called? cross elasticity of demand for train rides with respect to the price of a plane ride The sales agent should: Write a counteroffer stipulating the sellers' request At time of license renewal, what is the renewal charge for a salespersons license? 53- Greg sold an apartment building he owned for 20 years. The offer that has the shortest closing date, Answer: B- The offer with the highest price that is the most likely to close. 69,200 6. Jim and Jane financed the remaining $25,000 through the seller. A. What kind of loan do they have? Bill cannot contact the seller. An open listing is an exclusive contract. A borrower cannot qualify for a conventional loan unless he or she can make a 20% down payment. 11 of 50 Jake and Janet are required to pay 4 points on the $80,000 loan they are getting. In this case, multiply the monthly income ($600) by 12. 14- Value includes which of the following aspects? 1 of 10 When you receive an offer on a listing for less than asking price, you should not: A. A broker may advertise that he or she is an escrow agent. C. Present Alexs offer first since it came in first. 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. Post by; on fulgrim vs guilliman excerpt; clubhouse baseball iphone . fairbanks ice dogs standings . C. If the selling agent does not deal directly with the seller, the selling agent is not required to provide the disclosure. C. Discover why some homes havent sold. To learn more about the real estate business, D. To make more money than a real estate agent. C. The owner has 45 days to pay the new property taxes. 07 Jun. A. 1. 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? D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. C. Pam should recommend that they counteroffer with a price halfway between asking and offering price. 3 of 10 Homeowners can deduct all but which of the following from their income taxes? 5- What does the safety clause in the listing agreement do? Which of these forms of advertising is she most likely to avoid? What is important to remember about capturing the readers attention? A secondary bid for a property that is for more than the first offer 5- Under what circumstances can a loss on the sale of a personal residence be deducted from income taxes? 8- What is the major difference between a CalVet loan and other loans? The property is in an area that could flood. 13 of 50 What is the most common reason that owners try to sell their homes themselves? 3- When preparing a competitive market analysis, what categories of homes should an agent research? A. 2 of 10 Which lender typically deals in interim financing? C. Mortgage bankers are a large source of residential loans in California. 9 of 10 A reference list of alternative comparable properties is sometimes referred to as the: 10 of 10 Prospects Jim and Linda arrive with agent Bill at the first showing. The bundle of rights does NOT include the right of, Billy has a two-acre lot that is zoned agricultural. B. 9- What is the basic purpose of Truth in Lending Regulation Z? C. Refuse to accept the offer and check. From the 200' depth, subtract the 20' rear and front setback (200' - 40' = 160'). Wait until next week to send an activity report, hoping things will pick up. 4- Explain the documentary transfer tax. He asks, Which one of the children gets the basement bedroom with the private entrance? What kind of closing technique is Tim using? Bob Broker knows that another offer will be coming in at about the same time. 8 of 10 What does the paragraph on repairs state? Point out that the roof is not leaking despite its age. Present the $200,000 first and recommend rejection. 21 of 50 Once signed, escrow instructions can be changed only by: 22 of 50 What is one of the major objectives of professional property management? 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. ", Which of the following rules deals with specific actions regarding the requirements for handling earnest money deposits? Ask questions of the prospects children. Checking your browser. Discourage Sam from accepting an offer so far below Sam's asking price. 5- What actions can the sellers take regarding the purchase offer? ", Answer: A- "What would you like to offer? B. Rule E-1 8- What is the major difference between a CalVet loan and other loans? chris kelly rock 92 net worth. 9- Define a purchase money mortgage. 9 of 10 Agent Paul is bound to inform his client of all facts that might affect the clients interests both what Paul knows and what he should have known. Which of these situations would not be something Paul should know? 1 of 10 All of the following are good approaches for handling objections except which? D. A shopping center might have to remodel their public restrooms. B. Its easier to prioritize your tasks if your goals are in writing. A rental condominium for a recreational vehicle. C. Moving closer to the agent to get a better look. Billy's agent tells him that he needs, When using the cost approach to appraise a property, the appraiser is most likely working for the, insurance company trying to obtain a replacement cost on the property. D. All adjustable rate mortgages have negative amortization. 59- Which of the following is a sellers request that an agent cannot honor? D. Ken and Sarah both must be at the office from 9 a.m. to 5 p.m. 35- Who benefits from Private Mortgage Insurance? Jim has decided that he will learn all he can about the new subdivisions at the west end of town. D. I will complete a property management seminar within the next year. Buyers make an offer to purchase property and to place $1000.00 earnest money into their broker's trust account. 7- Agent Jim needs to do a visual inspection of his listing. When Bill pulls in front of the home, Linda decides immediately that she doesnt want to see the inside. 87- What information can you gather from the newspaper to help develop a Prospecting Plan? 7- What does the net operating income of a property represent? buyer randy makes an offer to purchase. First, determine the amount by which the first $40,000 is reduced; $40,000 x 0.05 = $2,000 (100% - 95% = 5% not covered). She discovers that the more time passes, the more she feels frustrated by the seller's lack of cooperation. Sets a limit on the commission a broker can earn. What is the major difference between an employee and an independent contractor? A. Q: Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. Not waste anymore time on this house, the buyer will never make an offer. 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. A. The seller must file a bill of sale with the county clerk. How would Grants lease at this time be classified? 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? 7- How can a builder help you generate leads? $5,500 the first year, plus a maximum 2% increase in market value per year, B. 7. 9 of 11 Lenders can charge all of the following except which fee when a borrower gets a loan? B. How does ALTA-R differ from ALTA? The interest rate will increase gradually over time. Virtual tours are a very expensive marketing tool to use. A. California: Real Estate Practice Ch11 Quiz with no answers. 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. 1- What is a competitive market analysis? 8 of 10 Which of the following circumstances would concern you about working for Broker John? The purchase price, plus depreciation B. 3 of 10 Which of the following would be an example of a licensee specializing in business type? D. Broker Tom has only limited responsibility for the actions of his licensees. What does that mean? The gross annual income, $7,200, divided by 8% (0.08), is $90,000. Possession date. Ask the buyers to sign a real estate transfer disclosure statement. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. D. Property evaluations from other agents have valuable information for sellers. 4. The Residential Environmental Hazards Guide, B. 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? PRACTICE QUESTIONS), >CALIFORNIA REAL ESTATE PRACTICE PRELICENSE CLASS, >CALIFORNIA LEGAL ASPECTS OF REAL ESTATE PRELICENSE CLASS, >ALL Questions with Answers for ALL 3 PreLicense Classes Guides on 1 page, >ALL Real Estate Practice Class Questions with Answers & most with Explanations. 5 of 10 All of these would be effective at capturing a readers attention except which? It must be in writing to be enforceable. The second mortgage has now become the primary loan. 9 of 10 All of these might be a buying signal except which? Answer: D- They are effectively terminating the original offer. 7- Name three benefits of listing a home with an agent that you could share with sellers. D. A lender can continue to collect PMI payments until the homeowners equity reaches 25%. 7 of 11 In which of the following types of loans is the payment allocated only to interest? Underline the correct pronoun in parentheses in the following sentence. C. The buyers are interested in another property. 1 of 10 All of the following are good newspaper sections to read for prospecting except which? Write a counteroffer. 7 of 10 Which kind of advertising aims at increasing sales by informing the public of a companys capabilities? Nam lacinia pulvinar tortor nec facilisis. At the time the agreement is signed. D. Similar expired listings that didnt sell. California: Real Estate Practice Ch3 Quiz with no answers. B. 6 of 10 Which booklet is not part of the Combined Hazards Book? 3 of 11 Which loan covers the period of time between the end of one mortgage and the beginning of another? B. 3- What is the difference between CLTA and ALTA policies? How long must a broker be licensed in order to apply for a temporary broker's license? 2- When looking at homes currently for sale, what is important for a prospective seller to know about asking price? Which statement is true? D. Offer to call the prospect when new listings that meet his or her criteria come on the market. List the details of all parties involved. Give the deposit money to the seller. B. The original loan becomes subordinate to the wraparound. 2- What kind of problem can result from a straight loan? This term typically refers to. D. If the buyer rejects the first counteroffer, the seller can accept the first offer. C. Payments will not be enough to retire the loan. 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? Display lots of family photos to impress potential buyers. The home is listed at $210,000. Properties are very liquid and can move quickly. 39 of 50 Prospects Mike and Marge arrive with agent Elaine at a showing. B. B. A. The sellers want the earnest money check made payable to them instead. 2- List the three Institute of Real Estate Management property management designations. Giving information about a listing to prospective buyers. 3- Differentiate between mortgage brokers and mortgage bankers. The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. A. 4 of 10 Once an offer has been accepted, the agent should do all of the following except which? 2- Describe an open listing. California: Real Estate Practice Chapter 17 Quiz with no answers. B. 6 of 10 Which of these is an emotional reason that buyers buy property? 10 of 10 When a tenant agrees to pay all taxes, insurance, maintenance and repairs, that tenant has what kind of lease? She can do all of the following except which? D. All repairs must be in compliance with existing building codes. 8- When does a purchase offer become a legal contract? Mary makes an offer to purchase a duplex from Sam. 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. C. The air conditioner does not work. Radio advertising is not as effective as other methods because listeners can be distracted by their activities and not hear the ads. Last year, about 25% of his income came from sales commissions. 10- Whats the difference between a lease purchase and a lease option? 2- What is floor time and why is it important? B. A secondary bid for a property from the same buyer. The fees that Eric charges Paul for making the loan could be any but which of the following amounts? Information on current loan programs. 5- If lenders intend to sell mortgages in the secondary market, what must they do? B. B. 8- When considering making a loan to a borrower, which of the following factors would probably exert the least amount of influence on the lender? 97- Buyer Randy makes an offer to purchase one of Broker Toms listings on June 15. 3 of 10 The IREM designation reserved for individuals who meet a certain level of education and experience is: 4 of 10 When setting up a rent schedule, a property manager should analyze all but which of the following? D. Their lender can profit from the difference in interest rates. C. Do you need the equity from your current home for the new home 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. B. Give the prospects a black copy of a purchase agreement to look over. The price of a plane ride rises by 10 percent. 99- All exclusive listing agreements must have, C. A list of personal property included in the sale. A. 6- What items can an owner of an income-producing property deduct that an owner of a personal residence cannot? The couple now has. Download an offer to purchase document and refer to the annotated Agreement of Purchase and Sale to help you fill it out. AnnualinspectioncostsAnnualcostofscrapmaterialsAnnualreworkcostAnnualcostofqualitytrainingAnnualwarrantycostAnnualtestingcost$155,000286,00034,679456,0001,546,000543,000. A. What do you need to remember about making phone calls to potential clients? A. D. Brenda has not violated any fiduciary duty. sam neill laura tingle split 23 of 50 Which of the following statements best describes what happens in a mortgage loan transaction? Why is it important for licensees to understand the Americans with Disabilities Act? A basis of $145,000 and a taxable gain of $3,000, C. A basis of $130,000 and a table gain of $18,000. D. Is permissible in amounts under $50. What percent of loss did you have? 12 of 50 The manager of a large hotel refuses to rent a room to a blind person with a guide dog. What approach can their agent take to change the sellers perception of the offer? 27 of 50 Tim and Sue have obtained a buydown loan on their newly built home. Start in the room with the best features. D. Make the headline bold and all caps. How can you prepare your sellers for receiving offers? 5 of 10 All of the following are valid listing agreements. 10 of 10 All of the following are true statements about goals except which one? C. Offer to show the caller a newly-listed, not-yet-advertised property, even if one doesnt exist. The lender makes payments to the borrower. 57- Under federal income tax law, the basis for a personal residence is which of the following: A. 1- The amount that a seller takes away from a sale is termed: A) Net sale price B) Seller's proceeds C) Gross sales price D) Profit margin 2- Which of the following best describes prospecting? 4- What is the agreement that a broker can enter into with a buyer? C. I will open my own office within nine years. Seeking buyers for your listings B. Tell the buyer to submit the offer first and then take a copy to the attorney to review. What would be a good approach for Pam to take? 10 of 10 Most sellers object to offers based on: 1- When preparing to present an offer to the sellers, what kinds of supporting information can be helpful? Follow the below steps to write a solid purchase agreement: Step 1 - Buyer and Seller Details. Agent Sally tries to match her clients with neighborhoods that have similar cultural and racial backgrounds. The C. Neither Sarah nor Ken can get employer-provided health insurance. C. Allow indoor pets to leave their designated area. Deposit the check into his trust fund account on the next business day. They were counting on a full-price offer and are very disappointed. 76- Mark believes he has been discriminated against during his home search. Nam ri, Explore over 16 million step-by-step answers from our library, m ipsum dolor sit amet, consectetur adipiscing elit. 8- What actions does a lender take to sell a mortgage in the secondary market? At the end of the term, the loan balance will be negative. D. The appraised value prior to sale C. Advertising in the telephone directory is cost effective because the directories can reach every home in the marketing area. He says to them, "Would you prefer to take possession on September 1 or October 1?" What type of relationship best describes how a real estate broker represents her principal in the sale of the principal's single-family home? A. A buyer wants to take the offer to an attorney to review it. A counteroffer represents a rejection of an offer.
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