buyer randy makes an offer to purchase

61- Bill and Sue secured a mortgage loan that is tied to an index which fluctuates over the life of the loan. 4 of 10 Which is true of an exclusive-authorization-to-acquire-property agreement? buyer randy makes an offer to purchase - cspconlutas.org.br 30- Being prepared to handle incoming phone calls means all of the following except which? What kind of closing technique is Harry using? What kinds of things should you include in a weekly activity report? B. Amanda loves the home and wants to make an offer. 2- When establishing rapport, whats one of the best ways to get to know your buyers? Several weeks later, Agent Tom becomes aware of a developer who would pay as much as $1,000,000 for the property. 6 of 10 Which of these is not a tool to help evaluate advertising effectiveness? A. 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. 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. He refuses to rent the other unit to families with children. Which of these forms of advertising is she most likely to avoid? 1- What are the three important considerations for a good property investment? A. She doesnt need a license to perform many activities at the firm, but which of the following would require her to have a license? Which of the following activities would she not be authorized to perform? 2 of 10 Assistants who are asked to be available for tasks in the field rather than in the office are referred to as: 3 of 10 Which of these items on a resume accompanying an application for an assistants position should be kept brief? If the terms offered by the Buyer are acceptable to the Seller, the Seller signs the Offer Form to begin the sale. Name four traditional marketing tools that you should use with every listing you get. 4- What are the major areas of newspaper leads? B. Brenda refuses. Maximize the return to the property management firm. Other than residential list three kinds of property in the real estate market. He says to them, Would you prefer to take possession on September 1 or October 1? What kind of closing technique is Harry using? Offers To Purchase Real Estate 43 Offer To Purchase Real Estate Templates (& Letters) As a potential buyer for a house, you would make an offer on paper to the owner of your intentions. This broker is guilty of what prohibited activity? 63- Jennys home appraised for $550,000. 1 of 10 All of the following are good approaches for handling objections except which? 25 of 50 Mortgage lenders are required to disclose financing costs and annual percentage rate to the borrower under which law or regulation? Facebook Instagram. Tell the sellers exactly how she feels and why she thinks the offer is not a good one. 7- What are the capital gains exclusions associated with the sale of a personal residence? Chapter 8: QUIZ QUESTIONS Flashcards | Quizlet B. Which of the following statements is true? The lender in case of the borrowers death, C. The lender against delinquent payments, D. The lender in case of the borrowers default. Bob Broker represents Sam Seller. A. Possession date. Sam has insisted on pricing his home 10% higher than Bob's CMA recommended. 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. Virtual tours are a very expensive marketing tool to use. 1- How much is the loan origination fee and what does it cover? A. B. B. 3- What signals do buyers use to indicate they may be willing to make a purchase? 76- Mark believes he has been discriminated against during his home search. Nam risus ante, dapibus a molestie consequat, ultrices ac magna. B. 1 of 10 When you receive an offer on a listing for less than asking price, you should not: A. Present the offer and tell the seller that the check needs to be held until June 30. What should Elaine do? C. FSBO sellers who list with an agent will pay their own advertising costs. 46 of 50 Greg grew up in and lives in a rural area. 6 of 12 The maximum commission amount a mortgage loan broker can charge on a second mortgage loan of 3 years for $18,000 is what? 8- What does the Water Heater Statement of Compliance address? B. Tell the buyer to submit the offer first and then take a copy to the attorney to review. D. Reduces the monthly payment for a borrower during the initial years. 3- An agents fiduciary responsibilities to a client usually end when the transaction closes. they are effectively terminating the original offer. Buys pools of mortgages in exchange for mortgage-backed securities. Offer to mail the caller a set of fliers on interesting properties. Housing and Community Development Act. Deposit the check into his trust fund account on the next business day. 45 of 50 What is the Federal Housing Administrations primary role in the mortgage market? 10- Which disclosures are NOT required to be made when selling residential property? Giving information about a listing to prospective buyers. chris kelly rock 92 net worth. 10 of 10 Which of these individuals could not act as an escrow agent without an escrow license? 14 of 50 The title report on a property shows there is a lien on the property. castilian drive, los angeles. [Solved] Buyer Randy makes an offer to purchase one of Broker Tom's A. A. A. Lead-based paint was used in the home. 7- What is the difference between an FHA loan and a VA loan? The agent should, Something of value given to another as an inducement for entering into a contract is termed, To emphasize the timely performance as an essential part of the contract, a contract would use the words. An open listing is an exclusive contract. five letter words with l; jaiswal surname caste; pros and cons of herzberg theory; sechrest funeral home obituaries; curious george stuffed animal 1975; cornerstone staffing application 0 What is important to remember about capturing the readers attention? 2- What types of office administration tasks are important for a licensed assistant to perform? C. Salespersons must perform all of their activities on behalf of their employing broker. 27- Mr. and Mrs. Haley are purchasing beachfront property in an upscale development. D. Meet with the buyers lender to ensure theyre getting a good deal. What kind of listing agreement does Alice have with Jack? $5,600 every year, with no increase, C. $5,750 the first year, plus a maximum 2% increase in market value per year, D. $5,750, plus a maximum 1% increase in market value per year. The purchase price, plus depreciation, B. A counteroffer by a seller to a buyer turns the seller from offeree to offeror. Answer a question with a question when possible. 3 of 10 What kind of ad usually combines both institutional and product advertising? Pellentesque dapibus efficitur laoreet. Allows the agent to determine community market trends. A. Greg Burns is selling his interest in his home to his wife Melanie as part of their divorce settlement. 5- What does the safety clause in the listing agreement do? California: Real Estate Practice Ch5 Quiz with no answers. A. Youll know how much house they can afford. 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? Tom thereupon submits a full-price offer to the owner and purchases the property. To purchase conventional, FHA and VA loans, D. To insure conventional, FHA and VA loans. 45- Kirk wants to get an FHA loan. 100- What does the Real Estate Disclosure Law refer to? Executor Fred calls Agent Tom to list a vacant tract of land, instructing him to list the land for $700,000. \text { Annual cost of quality training } & 456,000 \\ D. After the agent has had time to make copies at the office. What kind of loan do they have? They were counting on a full-price offer and are very disappointed. 16- Dave and Nadine have decided that they want to become property investors. D. Will conducted an agent open house last week that was attended by 25 agents. At the time the agent presents an offer. 16 juin 2022 why do babies clap their feet. 7- Name three benefits of listing a home with an agent that you could share with sellers. The buyer must pay the broker a commission. C. Is subordinate to a first mortgage. C. Discover why some homes havent sold. 3 of 10 Which of these lenders would be most likely to finance a large shopping mall? 6- What does the security and insurance clause of the listing agreement address? A buyer mails an offer to an out-of-town seller. B. Only needs to be done periodically. 5- What is the Closing Disclosure? What type of relationship best describes how a real estate broker represents her principal in the sale of the principal's single-family home? 101- Which type of loan typically carries the most loan points? 5 of 10 The principles of an agency relationship include all of these factors except which one? Bob writes the offer but is too embarrassed to submit it. What is the market value of the property? 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? Point out that the roof is not leaking despite its age. Now, calculate the amount by which the remaining $145,000 is reduced; $145,000 x 0.10 = $14,500 (100% - 90% = 10% not covered). A. 51- Which statement is true about a homeowners exemption? From the 200' depth, subtract the 20' rear and front setback (200' - 40' = 160'). 12. Mortgage bankers bring borrowers and lenders together. 7- Name three benefits of listing a home with an agent that you could share with sellers. Answer: D- They are effectively terminating the original offer. The seller accepts the offer by signing it, puts the accepted offer in an envelope addressed to the buyer, and places it in a U.S. mailbox. Which one is illegal in many states? C. Make up some statistics to share with the Bowers. What should Bob do? 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. Norm gave Pat a $500 earnest money check. C. Regulating reserves of institutions with savings accounts only. 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? 2 of 10 Offering a buyer more than one option and having him or her choose is using what kind of closing technique? What should Tim do next? He asks, Which one of the children gets the basement bedroom with the private entrance? What kind of closing technique is Tim using? B. Bob Broker knows that another offer will be coming in at about the same time. 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? You can make a Best Offer on listings that have a Make Offer button. A. What property type will he be dealing with? 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? 34- Sarah is an employee and Ken is an independent contractor at Kerns Realty. They will have a number of new expenses as a result of this purchase. 3 of 10 Which of the following forms is non-standard and should be prepared by a broker to give to sellers? 7 of 10 How might probate information help in prospecting? 5- Your listing presentation manual should be made up of two sections that address what issues? 10- Which of the following prospecting techniques do you have to use carefully because it has tended to upset people in recent years? C. It creates an agency relationship. 64- Which of the following is not a form of personal advertising? (Who, Whom) has been selected as the team captain? The purchase price, plus improvements, C. The fair market value at the time of sale. 3- What kinds of limits are placed on the interest rate in an adjustable rate mortgage? Her asking price was $560,000 and the property sold for $575,000. A. Mike has changed jobs six times in the past six months. B. 8 of 50 Buyer Kirk submits an offer to seller Larry. 2- What are some tax benefits associated with investing? Which is a true statement? If a seller is in a multiple offer situation, how do you determine the best offer? C. Ask the caller when not if he or she wants to see the property. When should the agent have disclosed this fact? C. Participate in a tax shelter program. D. Property evaluations from other agents have valuable information for sellers. 6 of 10 In the listing agreement, a seller can choose to decline/disapprove all but which of the following items? California: Real Estate Practice Chapter 13 Quiz with no answers. \text { Annual cost of scrap materials } & 286,000 \\ D. The loan must be repaid before the borrowers death. In this scenario, which of the following is not true? C. Advertising in the telephone directory is cost effective because the directories can reach every home in the marketing area. Which of the following is true, if you are licensed as a referral agent? Answer: B- Encourage the buyer to get the attorney to review it quickly. 2- What is important to remember about multiple offers? First mortgage on a single-family home, C. Primary mortgage on an office building, D. Settlement charges on a shopping center. D. Preparing flyers and promotional materials for the brokers approval. buyer randy makes an offer to purchase C. Date and attach supporting documents. Seeking buyers for your listings B. 99- All exclusive listing agreements must have, C. A list of personal property included in the sale. Answer: A- No, Bob Should have submitted the offer. 11 of 50 Jake and Janet are required to pay 4 points on the $80,000 loan they are getting. There are no offers on the property during the 6-month listing period and the listing expires. Buyer Norm just signed a purchase contract with licensee Pat. 3- Differentiate between mortgage brokers and mortgage bankers. D. Write advertisements and promotional materials with the approval of the licensee and supervising broker. 8- What does the Water Heater Statement of Compliance address? At the time the agreement is signed. A. Eric can require that both the buyer and seller share equally in his commission. From whom may a salesperson receive compensation for performed activities? C. Classified ads placed on the property, D. Number of hits on the company website. D. Greg has no fiduciary responsibilities to Kim once the listing expired. Receives special tax considerations. He says to them, "Would you prefer to take possession on September 1 or October 1?" 7 of 10 Which of the following is not a national real estate trade organization? A secondary bid for a property that the seller will accept if the first offer fails B. 1- What is important to know about unlicensed real estate assistants? A. Kirk doesnt have the right to withdraw the offer so soon. D. The UCC is a body of law that standardizes a number of business practices. A. Properties are very liquid and can move quickly. Which would NOT result from the exercise of police power? C. Theyre probably paying a higher interest rate on the second mortgage. buyer randy makes an offer to purchase. 81- Jake has decided to specialize in working with clients who purchase schools. B. 7- In the initial meetings with the prospects, the agent should do all of the following except which? B. Have you been pre-qualified or pre-approved by a lender yet? 30 of 50 After six months time, manager Tim wants to terminate the lease of one of his month-to-month tenants. 4 of 10 Once an offer has been accepted, the agent should do all of the following except which? 2 of 10 Which of these is not an AIDA characteristic? 8 of 10 Which disclosure is required by the Real Estate Settlement Procedures Act? 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. 2- Name one advantage and one disadvantage of telephone contacts. B. Once the Offer is signed by the Buyer and the Seller, and the contained contingencies are met, it then becomes a legally binding agreement. 6 of 10 Which of these is an emotional reason that buyers buy property? Encourage the buyer to get the attorney to review it quickly. B. Its a good idea for brokers to carry workers compensation coverage. What should Jake do? The loan value is based on the appraised value, not the sale price. A. I will make two new contacts every day this week. 2. What is the status of the contract between Sam and Mary? C. Gather listing forms for her employer. 10 of 50 There has been very little interest in the Bowers home this past week. D. Hold both offers because he heard that a full-price offer is on its way. It is completed by an interested Buyer then presented to the Seller, stating the basic terms under which the Buyer is willing to purchase the property. What kinds of things should he be looking for? You had a 9% loss. 4- What is a good method for estimating what a seller will net from the sale of the property? What does the net operating income of a property represent? C. The fair market value at the time of sale \text { Annual testing cost } & 543,000 \\ Broker compensation to other brokers. The buyers have been pre-qualified by a lender. B. What should Tom do? 2- What does Proposition 58 state? B. From the 100' frontage, subtract the 10' per side setback (100' - 20' = 80'). What kind of closing technique is Jim using? What kind of a mortgage do they have? Which is true? 2 of 10 A competitive market analysis contains information about all of the following items except which? 9 of 10 All of these might be a buying signal except which? : 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. In the past year they have referred two dozen people who have purchased flooring from New Age. A. D. Have the broker send a thank you for listing letter to the sellers. D. Allows viewing access to strangers. The lender must furnish a copy of the CFPB booklet to Abby no later than the third business day from which date? A secondary bid for a property from the same buyer. 7 of 10 Which document shows the assets and liabilities of a business? 7 of 10 Which disclosure form gives detailed information about the propertys condition? C. Analyzing the income potential of the property. 93- Jim has created a nice property flier for the James home. D. Once escrow instructions are signed, changes can only be made with the written agreement of all parties. 3- When handling a telephone inquiry, why should you limit the amount of information you give out about the property? 1- What is important to know about unlicensed real estate assistants? 4- What are the major areas of newspaper leads? "No, you may lose the house." D. Meet with an inspector at a listing. D. A basis of $140,000 and no taxable gain. 9 of 11 Lenders can charge all of the following except which fee when a borrower gets a loan? California: Real Estate Practice Ch12 Quiz with no answers. To learn more about the real estate business, D. To make more money than a real estate agent. In the meantime, Bill gets another offer on the property from another buyer at a higher price. Answer: C- A secondary bid for a property that the seller will accept if the first offer fails. An Offer to Purchase REval Estate (the "Offer") is a document that sets out the basic proposed terms and conditions between the Buyer and the Seller in a rEval estate transaction. Later that day, Kirk finds a home he likes better; so he withdraws his offer to Larry. If a buyer has given the broker a signal that the buyer is ready to make an offer, what should the broker do to get the buyer to make the offer? 8 of 12 Fannie Mae does all of the following activities except which? Who should Tommy recommend the owner consult with before making a decision? A broker cannot use the word escrow in a fictitious name. The Language of Composition: Reading, Writing, Rhetoric, Lawrence Scanlon, Renee H. Shea, Robin Dissin Aufses, Edge Reading, Writing and Language: Level C, David W. Moore, Deborah Short, Michael W. Smith. D. Kirks offer to Larry is legally cancelled. 9 of 10 Janet is an unlicensed assistant. Buyers make an offer to purchase property and to place $1000.00 earnest money into their broker's trust account. 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. The selling agent must provide the disclosure to the seller as soon as practicable prior to presenting a purchase offer. Local ordinance requires a 20-foot rear and front setback. 5- If lenders intend to sell mortgages in the secondary market, what must they do? Tell Mike that the sellers will be upset if they cancel the appointment. C. Real estate can respond quickly to changes in the market. Name and define the two forms of advertising. The owner of the property is HIV positive. 14- Value includes which of the following aspects? 1 of 10 Which of the following actions by an agent would most probably upset the sellers? 8 of 10 Which of the following is a good direct mail technique? Sets a limit on the commission a broker can earn. 7- Agent Jim needs to do a visual inspection of his listing. Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. Jim has decided that he will learn all he can about the new subdivisions at the west end of town.

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