buyer randy makes an offer to purchase
Tell Mike that the sellers will be upset if they cancel the appointment. A. A. 6- Which type of leasehold estate is commonly referred to as a periodic tenancy? 8 of 10 When is the first installment of property taxes due? Give the sellers a copy of some homeowners tips. 8- Under what conditions may a landlord enter a tenants property? Two months later she purchased and moved into a new home that cost $145,000. C. Deposit into the brokerage business account. 57- Under federal income tax law, the basis for a personal residence is which of the following: A. 2 of 10 Which of these is not a good technique to get the name of a caller who is reluctant to give you that information? 1 of 10 All of these questions could help you determine a prospects capacity to make a purchase except which one? 8 of 10 Which of these statements about counteroffers is not true? 83- Matt is computing the adjusted cost basis of his apartment building for income tax purposes. What does the net operating income of a property represent? There are several successful agents at Johns office. Later that day, Kirk finds a home he likes better; so he withdraws his offer to Larry. Course Hero is not sponsored or endorsed by any college or university. 4. A. The offer that has the shortest closing date, Answer: B- The offer with the highest price that is the most likely to close. 3- When handling a telephone inquiry, why should you limit the amount of information you give out about the property? A Bill of Sale gives title to the business equipment. Nam risus an, View answer & additonal benefits from the subscription, Explore recently answered questions from the same subject, Explore documents and answered questions from similar courses. 70- Which of these items would be a credit to the buyer on the settlement statement? 8- When does a purchase offer become a legal contract? 23 of 50 Which of the following statements best describes what happens in a mortgage loan transaction? 8 of 10 Which of the following is a good direct mail technique? The purchase price, plus improvements, C. The fair market value at the time of sale. D. Magazine ads are significantly more expensive than newspaper ads. 3- For whom do property tax exemptions exist and for how much? Tom violated the law by not providing notice of information that would affect Fred, When a broker received an unexpected bill, he deposited a client's earnest money check into his personal account to cover the expense. 7- Name three benefits of listing a home with an agent that you could share with sellers. 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. C. If the selling agent does not deal directly with the seller, the selling agent is not required to provide the disclosure. 4 of 10 Timeshare buyers have the right to rescind a transaction within what timeframe after signing the purchase contract? What would be a good approach for Pam to take? B. 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? 6- According to California real estate law, how often must a broker balance his or her trust accounts? 88- Sally and Dan must pay 2 points on their new $65,000 loan. What should Bob do? 12- What does TRID require of lenders? D. Provides the names of individuals who may want to sell inherited property. 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? 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. A. Ken is responsible for his own taxes, while the broker pays Sarahs. B. Study the other terms of the offer so that you can maximize the offers benefits and minimize the lower price. Once the Offer is signed by the Buyer and the Seller, and the contained contingencies are met, it then becomes a legally binding agreement. 7- Agent Jim needs to do a visual inspection of his listing. 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? They have $20,000 for a down payment and assumed the sellers mortgage of $75,000. 29 of 50 What is one way the Federal Reserve System regulates the money supply? To purchase conventional, FHA and VA loans, D. To insure conventional, FHA and VA loans. Which of the following would be considered an intermediate goal? sam neill laura tingle split It was terminated when Mary delivered the recission to Sam. Which statement is true? B. Newsletters can be a very effective advertising forum for niche marketers. B. His property taxes would be assessed at: 6 of 10 When a person acquires new property, which is true? 8- When studying the characteristics of an area in which an investment property is located, what factors should the investor look at carefully? It is determined by who pays the compensation. Agent Sally tries to match her clients with neighborhoods that have similar cultural and racial backgrounds. 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. A secondary bid for a property that is for more than the first offer C. Eric may not represent the sellers interests to the detriment of the buyer. Recommend a counteroffer back to list price. Availability of multiple listing service, C. Broker-paid advertising and promotion, D. Assistance with filling out disclosures. 62- When agent Hal shows a home he should never: A. 38- When using the straight-line method of depreciation, each year of economic age is given a rate that, A. Varies each year according to a table provided by the IRS, B. Rob, a salesperson, tells a buyer that the location of the electric meter on a house is up to the buyer. C. Analyzing the income potential of the property. C. Shows property addresses that should be excluded from prospecting. 6. 8 of 10 What does the paragraph on repairs state? D. Offer something valuable to the reader. A. A. Tom thereupon submits a full-price offer to the owner and purchases the property. B. 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? Answer: C- 10% of the sales contract offer, What is the suggested response when a buyer asks "Do you think the seller will come down on the price?" 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? One offer is for $208,000; the other is for $200,000. 85- Which paragraph of the purchase agreement states that the balance of the purchase price will be deposited into escrow prior to closing? Properties are very liquid and can move quickly. 100- What does the Real Estate Disclosure Law refer to? 8 of 10 Which of the following circumstances would concern you about working for Broker John? 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. 11. 63- Jennys home appraised for $550,000. Executor Fred calls Agent Tom to list a vacant tract of land, instructing him to list the land for $700,000. 7 of 10 How might probate information help in prospecting? The definition of race was expanded to include ancestry. C. The same amount will go towards the principal every month. Making An Offer To Buy A Business - 6 Key Considerations - Forbes 8 of 10 Proof of ownership of a property is called: 9 of 10 Who is responsible for ordering the preliminary title report? 55- Greg is approved for a Cal-Vet loan. C. Tangible assets transferred in the sale include inventory, fixtures and equipment. wigan warriors west stand chef buddy microwave egg cooker instructions; telemundo la casa de los famosos en vivo $6,740 Find solutions. The bundle of rights does NOT include the right of, Billy has a two-acre lot that is zoned agricultural. 2- What kind of problem can result from a straight loan? A. Mike has changed jobs six times in the past six months. A. I will complete the GRI certification in the next four years. 1 of 10 Gail is a licensed real estate assistant. Code Violations and Tax Delinquencies. D. Buyers of FSBO homes are usually the ones who save money. C. Broker Harry deposits $1000 into his brokerage business account. Which is a true statement? Rule 21 Which statement is true? C. Brenda could be liable for a breach of the listing terms. 2 of 10 All of these statements are true except which one? 8- What does the Water Heater Statement of Compliance address? D. Chris is a buyer's agent. 31- Patrick has a written independent contractor agreement with his broker Tami. C. The seller did not disclose the problem on a sellers disclosure form so Pam is off the hook. Who is responsible for removing the lien to clear the title? D. Placing a classified ad in the weekend paper. B. What would we call Hannah? 8- Which section of the purchase agreement does not apply directly to the buyers and sellers? Bob cannot do anything; it is out of his hands. 93- Jim has created a nice property flier for the James home. Has New Age violated any laws? 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. D. Tell the sellers its time to reevaluate the price. B. Salesperson Julie can receive her commission from the cooperating broker in her latest transaction. 10 of 10 Which of the following is not a possible benefit of investing in real property? What is the key feature of this type of loan? C. The air conditioner does not work. B. B. 3- A property manager can refuse to rent to applicant Mike for any of the following reasons except which? The value of the property the borrower wants to purchase, D. The neighborhood in which the property is located. C. It keeps your name in front of potential buyers and sellers. 5- Under what circumstances can a loss on the sale of a personal residence be deducted from income taxes? 12,800 square feet 2- What exception exists to the duty of obedience when working with a client? Possession date. C. Identifies buyers for other properties. 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? B. A. When You Should Make a Purchase Offer - The Balance D. The interest payment is always smaller then the amount allocated to the principal. Three days later, the agent shows the property; at that time the customer reveals her financial abilities and motivation. Nam ri, Explore over 16 million step-by-step answers from our library, m ipsum dolor sit amet, consectetur adipiscing elit. Given the rise in the price of a plane ride, what percentage change in the price Sam has insisted on pricing his home 10% higher than Bob's CMA recommended. A. 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. There is nothing that can offset this problem. 8- What actions does a lender take to sell a mortgage in the secondary market? What would you say about Alexs actions? 14 of 50 The title report on a property shows there is a lien on the property. Sexta, 26 de novembro de 2021 . Give the deposit money to the seller. She put 20% down and got a mortgage for the remainder. California: Real Estate Practice Ch3 Quiz with no answers. Present the offer and tell the seller that the check needs to be held until June 30. A. 8- What is important for a broker to remember about the Foreign Investment in Real Property Tax Act? What is the result? C. The lender gives the borrower a mortgage and funds. Broker John puts $500 into his trust account. Other than residential list three kinds of property in the real estate market. D. Their lender can profit from the difference in interest rates. 41 of 50 What was the important ruling in Jones v. Mayer? Call Us Today! 9 of 10 A shopping center would be primarily categorized as what type of property? whether the property's buildings encroach on neighboring land, A right that goes along with the ownership of real property is, Plants and trees cultivated for harvest best describes. D. Written escrow instructions must include a statement with the brokers name, indicating he or she is a licensed real estate agent. 4- Why is it important to talk to the sellers about the buyers? 3 of 10 What kind of ad usually combines both institutional and product advertising? Deposit the check into his trust fund account on the next business day. C. Your plan for finding the buyer a home. B. B. Housing and Community Development Act. D. The buyers love the landscaping improvements the sellers have made. C. An offer or counteroffer can be withdrawn at any time before it has been accepted. A. The loan value is based on the appraised value, not the sale price. 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. C. Maintaining the office filing system. Minimize expenses while maximizing profits for the owner. (Who, Whom) has been selected as the team captain? Practice exam for California Real Estate Practice Class, Answers will be revealed with the correct subscription. B. How much do you have in your savings account? Go back to the buyer's agent and try to get the offer higher. B. What are the buyer's costs on a $185,000 sale if the lender charges a 2% loan origination fee and 2 points? A. Eric can require that both the buyer and seller share equally in his commission. 8- What do you call those items that have been incurred by the seller but not paid, and how will they be handled on the settlement statement? Answer: D- It was never effective since Sam had not notified Mary of the acceptance. Example ______ 1. east of the mississippiriver\underline{\text{mississippi river}}mississippiriver. A. B. 4- Why is it important to talk to the sellers about the buyers? A. Lead-based paint was used in the home. 3 of 11 Which loan covers the period of time between the end of one mortgage and the beginning of another? 5- When must a licensee provide an agency disclosure to a prospective client? 4- Whats a bonus closing and whats important to keep in mind about this technique? A. 5- What does the safety clause in the listing agreement do? 22- Jane sold her personal home for $148,000. 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. The adjusted cost basis of the first home was $140,000. "No, you may lose the house." 47 of 50 Which of the following would not qualify as a 1031 exchange? C. The buyers and sellers agents will sign the escrow instructions. Make sure all required disclosures have been done. He asks his real estate agent if she could tell him how to go about building a house on the land. 7. 3 of 10 Jake has received two offers on one of his listings. C. Do you need the equity from your current home for the new home purchase? 3 of 10 Which of the following forms is non-standard and should be prepared by a broker to give to sellers? Mary wants to make an offer on a house that is 25% lower than the asking price. Now, calculate the origination fee; $168,500 x 0.02 = $3,370. B. C. Real Estate Settlement and Procedures Act. What kind of closing technique is Jim using? C. Exclusive-authorization-and-right-to-sell. 5- How do life insurance companies get involved in the investment market? 2- What exception exists to the duty of obedience when working with a client? In this case, multiply the monthly income ($600) by 12. B. D. Have the broker send a thank you for listing letter to the sellers. This practice is: 24- When talking to his investment clients, Broker Adam often to tax shelters. Smoke Detector Statement of Compliance, D. Sellers Affidavit of Nonforeign Status and/or California Withholding Exemption. This is not true of which duty? A. Brenda must follow all of Jims instructions. Answer: C- A secondary bid for a property that the seller will accept if the first offer fails. buyer randy makes an offer to purchase - cspconlutas.org.br A. In fact, the meter's location is dictated by the town building codes; what could happen to Rob? A. Greg Burns is selling his interest in his home to his wife Melanie as part of their divorce settlement. B. Alice knows everything about the exclusive east side neighborhoods. You had a 9% loss. 99- All exclusive listing agreements must have, C. A list of personal property included in the sale. 3- In what three ways can an assistant aid an agent with appointments? 90- Marsha has been keeping track of the effectiveness of her advertising campaigns. 26 of 50 Veteran Bill has applied and been approved for a non-VA-guaranteed CalVet loan. What approach can Greg use to discourage the person from calling other agents? If a seller changes the terms of the offer to purchase, he has created a counteroffer. 4- Explain the documentary transfer tax. 2- What is floor time and why is it important? B. D. Broker Gina puts $150 into her trust account. 3- When making your presentation, what topics should you cover? C. Clearly written contractor agreement must exist. Donec aliquet. He sold the building for $1,000,000 and paid $60,000 in commission to the broker. D. Make sure all light bulbs and lamps are working and are bright. 4. 8- Why should agent Grace give her client a Combined Hazards Book? 1- What is a competitive market analysis? 7 of 10 Bill and Brenda bought their home for $150,000 seven years ago and have lived in it ever since. B. What do many firms do to avoid confusion with their advertising plan? They will have a number of new expenses as a result of this purchase. A. Pam should tell them to reject the offer so that the buyers will counter back with full price. A. 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. How are properties affected by the local economy? Mary writes a letter rescinding her offer and hand delivers it to Sam Sunday night. If an item is already correct, write C on the line provided. D. Meet with an inspector at a listing. 3- How could refinancing be an investment benefit? D. Understanding characteristics of the rental market. A buyer wants to take the offer to an attorney to review it. 1- What is escrow? 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. Auteur/autrice de la publication : Post published: 16 juin 2022 Post category: aerogarden pump settings for herbs aerogarden pump settings for herbs 2 of 10 Which of the following is not a fiduciary duty an agent owes to his or her principal? 7 of 10 Which statement is not true about opening escrows? B. Tell Linda that the sellers will be very disappointed if they cancel the appointment. 51- Which statement is true about a homeowners exemption? 27- Mr. and Mrs. Haley are purchasing beachfront property in an upscale development. D. Property evaluations from other agents have valuable information for sellers. C. Make up some statistics to share with the Bowers. 10- Whats the difference between a lease purchase and a lease option? A. $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. Norm gave Pat a $500 earnest money check. 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. 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? C. Print postage labels from your computer. Buys conventional, FHA and VA loans. 10 of 11 Mark gets a home loan and the lender will charge him 3 points at closing. \text { Annual cost of scrap materials } & 286,000 \\ The HUD-1 Uniform Settlement Statement, required by RESPA, must be used in what instance? Their first mortgage will get paid off immediately. 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. Brenda refuses. B. There is a crack in the basement wall. B. B. Not waste anymore time on this house, the buyer will never make an offer. Will placed an ad in the most recent Home Buyers Guide. 50 of 50 Eric is acting as a disclosed dual agent in a transaction. What kind of lease does Jim have? 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? What is meant by the term sphere of influence? 30 of 50 After six months time, manager Tim wants to terminate the lease of one of his month-to-month tenants. Sample Final Exam for California Real Estate Practice Questions with no 52- Which statement is true about a listing contract? B. Where is it that he likely found out the property was for sale? D. There is a loan protection plan included with the loan. 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? 1 of 10 All of the following are good newspaper sections to read for prospecting except which? 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. buyer randy makes an offer to purchase. 4 of 10 Which of the following is NOT a condition of the safe harbor test? C. Bake muffins or cinnamon rolls to create a homey feel. Which is true? 9 of 10 Which of the following statements is not true? C. If Larry verbally accepted the offer, Kirk is bound by it. Bob Broker knows that another offer will be coming in at about the same time. Mary makes an offer to purchase a duplex from Sam. 4 of 10 Which is true of an exclusive-authorization-to-acquire-property agreement? This action is legal but very unprofessional. escrow money must be passed back to the buyer. A. A basis of $148,000 and no taxable gain, B. Sharon and Steve have just taken a second mortgage on their home. 2. B. An agent should print off a copy of the listing on the companys Internet site to send to the sellers. A. B. During business hours and only after giving the tenant 24 hours notice. A. 9. Mary makes an offer to purchase a duplex from Sam. 1 of 10 All of the following are good approaches for handling objections except which? 15 of 50 Agent Will has had a listing with the Bryants for 6 weeks. Tom then resells the property to the developer and pockets a $300,000 profit. D. Convince a seller to list with you. Rule F-1. D. Send the weekly report as usual, emphasizing what your upcoming plans are for the week. 77- Which of the following Internet pages might not be of particular interest to buyers? A. B. Jim Sharp is purchasing his fathers home. 9 of 10 An agent must give a copy of the listing agreement to the sellers: A. A. Jake is getting a VA loan with no down payment. 2- List the three Institute of Real Estate Management property management designations. Before completing the form, discuss the following important points with the home seller: Price. 3- When handling a telephone inquiry, why should you limit the amount of information you give out about the property? 8 of 50 Buyer Kirk submits an offer to seller Larry. How does ALTA-R differ from ALTA? What will they have to pay the lender? Use the yes-but technique to handle the objection. What is the market value of the property? They were counting on a full-price offer and are very disappointed. 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? A. C. Gather listing forms for her employer. They were counting on a full-price offer and are very disappointed. rickey smiley and grandson videos Answer a question with a question when possible. B. A. Youll know how much house they can afford. D. Erics broker should appoint Eric as the designated agent in this transaction. 5- What does the safety clause in the listing agreement do? lumberton man killed; guggenheim annuity rates. Lenders are in the best position to qualify buyers. D. Brenda has not violated any fiduciary duty. C. Once filed, it remains until terminated. Has Bob acted properly? A. She tells them that this action could decrease their property values. Course Hero is not sponsored or endorsed by any college or university. C. Is permissible if being accepted on behalf of a third party. 7. B. 10 of 10 When a tenant agrees to pay all taxes, insurance, maintenance and repairs, that tenant has what kind of lease? B. 1 of 10 Broker Alice has hired several independent contractors in her firm. If checked, the seller can complete repairs after closing. What should Tim do next? Which would NOT result from the exercise of police power? 104- Lorna and Hal have obtained a growing equity mortgage for their new home. 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? The offer with the highest price Broker Ashley has been working for a seller for the past seven months. Their interest rate will rise after the first few years. The date Abby receives the good faith estimate. Q: Buyer Randy makes an offer to purchase one of Broker Tom's listings on June 15. 80- Which of the following is an example of commingling? Which of the following conditions is Paul not required to report on this form? 6- Whats important to know about the Liquidated Damages paragraph? 5 of 10 Alice has decided that she will specialize in selling farm land. It must be in writing to be enforceable. 2 of 10 When can a landlord enter a tenants property to make repairs or show it? buyer randy makes an offer to purchase - ftp.ivnowandzen.com 96- Which statement is not true about a listing contract? The home comes equipped with all furnishings.
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buyer randy makes an offer to purchase