It took effect when Sam accepted Mary's offer. The sales agent should: Write a counteroffer stipulating the sellers' request. 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. Hometown received $2400.00 in referrals. B. The bundle of rights does NOT include the right of, Billy has a two-acre lot that is zoned agricultural. 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? Buyers make an offer to purchase property and to place $1000.00 earnest money into their broker's trust account. D. Erics broker should appoint Eric as the designated agent in this transaction. How can you prepare your sellers for receiving offers? Sunday afternoon, Mary is driving around and finds a property she likes better. Which of these forms of advertising is she most likely to avoid? Rule F-1. A. 5 of 10 Which of the following would not be a reason to choose to be an assistant? 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. 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. She would likely be required to do which of the following? 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. D. Purchasing loans from primary lenders. A. What kind of mortgage might they get? Deposit the check into his trust fund account on the next business day. 75- All but which of the following is NOT an AIDA feature? The price of a plane ride rises by 10 percent. His depreciation was $2,500 per year. Which term is the process of joining several parcels of land into one larger parcel? 1. 1 of 10 When you receive an offer on a listing for less than asking price, you should not: A. B. What is the status of the contract between Sam and Mary? A rental property has a return rate of 8%. You can use a reverse telephone directory to get the names of residents. C. FSBO sellers who list with an agent will pay their own advertising costs. 3 of 10 Which of the following statements is NOT true regarding a broker acting as an escrow agent? A. C. Allow indoor pets to leave their designated area. This form is the first step in any real estate deal. 6- What is the main reason sellers choose to sell their property without an agents help? 31- Patrick has a written independent contractor agreement with his broker Tami. 10 of 10 Assistants who are hired to work part time: C. Usually get a percentage of the commission in addition to a salary. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. wigan warriors west stand chef buddy microwave egg cooker instructions; telemundo la casa de los famosos en vivo D. All repairs must be in compliance with existing building codes. What should Tim do next? B. 1 of 10 All of the following are good newspaper sections to read for prospecting except which? A. 48- The public report that a developer must provide when offering subdivided lands for sale is provided by which agency? buyer randy makes an offer to purchase. What kinds of insurance do brokers normally require of their employees? Harry has some buyers that he believes are ready to make an offer. B. 7- Agent Jim needs to do a visual inspection of his listing. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Try to get Sam to accept the offer. B. B. Newsletters can be a very effective advertising forum for niche marketers. C. The court has ordered the transfer of Sally Greens home to her friend Penny Jacobs as part of the settlement of Sallys estate. 10 of 10 Which of the following statements is not true about a net listing? 6- What is important for the sellers to know about a counteroffer? 10 of 10 Which of these is not an exemption to fair housing law? Jim has decided to specialize in what area of real estate? What will they have to pay the lender? Lenders are in the best position to qualify buyers. C. Use an attractive first-class stamp. A net listing is illegal in all states. They will have to make a very high down payment. A broker cannot use the word escrow in a fictitious name. A. What approach can their agent take to change the sellers perception of the offer? A broker may advertise that he or she is an escrow agent. 1- What is an important thing to remember about listing agreements? Checking your browser. 20 of 50 Seller Patsy wants to net $150,000 from the sale of her home. buyer randy makes an offer to purchasei miss you text art copy and paste. 4- Explain the documentary transfer tax. D. I will distribute 200 business cards every month for the next six months. Write a counteroffer. C. Bake muffins or cinnamon rolls to create a homey feel. A. Eric can require that both the buyer and seller share equally in his commission. Which of the following is Kirk himself not likely to do during the application process? 1 of 10 Which item is not covered by CLTA, ALTA or ALTA-R insurance policies? Which of the following would be the least likely place for them to obtain a loan? 5- What should a good management contract contain? 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? California: Real Estate Practice Ch11 Quiz with no answers. Give the deposit money to the seller. 9- What required disclosure is a result of Megans Law? How would Grants lease at this time be classified? Follow the below steps to write a solid purchase agreement: Step 1 - Buyer and Seller Details. 4. D. Allows a broker to have as a commission anything above the minimum the seller sets. B. 4- What do Fannie Mae and Ginnie Mae do that Freddie Mac does not? 2- What kind of problem can result from a straight loan? 86- Which of the following is not considered a benefit of investing in real estate? 10 of 10 Which of these Internet pages might be of particular interest to sellers? B. How does ALTA-R differ from ALTA? B. Offer to mail the caller a set of fliers on interesting properties. D. A basis of $140,000 and no taxable gain. D. The selling agent must provide the disclosure to the buyer as soon as practicable prior to the execution of the buyers offer to purchase. 98- Grant moves into his new office space while he awaits the completion of the negotiations of the lease terms. A. 3 of 11 Which loan covers the period of time between the end of one mortgage and the beginning of another? Several weeks later when showing another home to a buyer, Greg mentions that Kim would have accepted less for her home. 3 of 10 Which of the following forms is non-standard and should be prepared by a broker to give to sellers? B. buyer randy makes an offer to purchase. 4- What items are not covered by any title insurance policy? A. 3 of 10 Homeowners can deduct all but which of the following from their income taxes? buyer randy makes an offer to purchase 4- Why is coordinating escrow so important and how can an assistant help? The borrower makes payments of interest only over the term of the loan. Buyers looking at FSBO homes are usually looking for a bargain. B. A. The lender gives a mortgage to the borrower and gets funds in exchange. 11- What are the penalties for violating Regulation Z? Buyer Jim asks if he can visit the property for a second time. At the end of the term, the loan balance will be negative. Why or why not? Amanda loves the home and wants to make an offer. B. C. Advertising in the telephone directory is cost effective because the directories can reach every home in the marketing area. C. Clearly written contractor agreement must exist. A. Greg Burns is selling his interest in his home to his wife Melanie as part of their divorce settlement. The listing agent must provide the disclosure to the seller prior to securing the listing agreement. 5- What kind of newspaper ad could you place to solicit a listing? B. D. Interest rates are typically fixed rate. A. 1 of 10 What form can an agent use to show a seller what he or she will net on the sale of the property? A. The Residential Environmental Hazards Guide, B. B. Housing and Community Development Act. 2- What is floor time and why is it important? munich latitude compared to us; pro sun tan. B. Lorem ipsum dolor sit amet, consecteticitur laoreet. 4. C. Is not necessary if the verbal presentation is strong. 10- Whats the difference between a lease purchase and a lease option? A. Is generally viewed as unprofessional. C. Exclusive-authorization-and-right-to-sell. D. If the buyer rejects the first counteroffer, the seller can accept the first offer. 3- When preparing a competitive market analysis, what categories of homes should an agent research? Regulates reserve requirements for all institutions that offer checking accounts. 84- Four years ago, Sam purchased a vacant lot for $10,000. 6- Which type of leasehold estate is commonly referred to as a periodic tenancy? What should Bob do? Which statement is true? C. Payments will not be enough to retire the loan. 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. C. Gather listing forms for her employer. For what type of loan is the borrower applying? He asks, Which one of the children gets the basement bedroom with the private entrance? What kind of closing technique is Tim using? D. Avoid negative comments while hes inside the home. 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. Is permissible in amounts under $50. Only after receiving the tenants consent. 6 of 10 In the listing agreement, a seller can choose to decline/disapprove all but which of the following items? Encourage the buyer to get the attorney to review it quickly. A. C. If the selling agent does not deal directly with the seller, the selling agent is not required to provide the disclosure. A. Refusing to make loans based on the racial composition of a neighborhood is called. B. B. 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. A. 5 of 10 RESPA applies to all of the following EXCEPT which? 8- What actions does a lender take to sell a mortgage in the secondary market? C. Write and sign commission checks to salespersons. 6 of 10 A buyer calls your office to inquire about a property he saw advertised. B. Jim Sharp is purchasing his fathers home. 4 of 10 Which of the following is NOT a condition of the safe harbor test? 1 of 10 Broker Alice has hired several independent contractors in her firm. The broker will owe fiduciary responsibilities to the seller as well as the buyer. Bob should not have presented the offer after the property was under contract to another buyer. Sexta, 26 de novembro de 2021 . A. 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? B. A. 10 of 10 A competitive market analysis is an attempt to: A. Give an example of a specific short-term goal. B. 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? C. An apartment manager might be required to allow a tenant with a disability to widen a doorway. He has put up $50,000 in preferred stock as earnest money. 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. 8. The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. 6- What is important for the sellers to know about a counteroffer? 10 of 10 All of these activities are appropriate to do within the first few days of obtaining a listing except which? B. Department of Housing and Urban Development, C. Recorders Office in the county where the land is located. The listing price of a house is $139,900. Goodwill is an intangible asset that results from the reputation of the business. \text { Annual warranty cost } & 1,546,000 \\ Instead, Bob terminates the relationship with Mary. C. Identifies buyers for other properties. This broker is guilty of what prohibited activity? Each of their payments is for the same amount. If something truly is a deal breaker and a line in the sand for you, that is fine, but stick to it. D. Have the prospects sign the disclosure about agency relationship. A. Their interest rate will rise after the first few years. What kinds of things should he be looking for? A secondary bid for a property that the seller will accept if the first offer fails 8- Why is it important to have a written prospecting plan?