buyer randy makes an offer to purchase

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? Sam asks Bob what the price is. buyer randy makes an offer to purchase C. An assistant can keep track of the progress of activities during escrow. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. 74- Which statement is not true about an agency relationship? 3- For whom do property tax exemptions exist and for how much? This type of action might be viewed as: Buyer Frank has just signed a sales contract for a 2 million dollar 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? 6 of 10 Which of the following is not a true statement? 10- Which of the following prospecting techniques do you have to use carefully because it has tended to upset people in recent years? 8- What is an important issue for potential buyer clients to understand? 2 of 12 Which of the following statements is not true about the Federal Reserve? 7 of 10 If a broker receives a deposit check with a purchase contract, which of these is he not allowed to do? sam neill laura tingle split B. Which statement is true? 78- Nancy bought her home last year for $425,000. Answer: C- A secondary bid for a property that the seller will accept if the first offer fails. B. Greg has put himself in a potential dual agency situation. Post by; on fulgrim vs guilliman excerpt; clubhouse baseball iphone . C. Make up some statistics to share with the Bowers. D. Meet with an inspector at a listing. 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? Buyer Norm just signed a purchase contract with licensee Pat. 6- Whats important to know about the Liquidated Damages paragraph? B. Her broker has asked her to be available for tasks in the field rather than in the office. 32 of 50 Alice is an employee of Mid-State Realty Services. Finally, add the origination fee and points together to calculate the buyer's total cost; $3,370 + $3,370 = $6,740. 4 of 10 A totally disabled veteran could be eligible for a property tax exemption of up to what amount? 6- According to California real estate law, how often must a broker balance his or her trust accounts? A week later, the salesperson takes a new listing and prepares an offer for her seller from her brother/client. $90,000 castilian drive, los angeles. 6 of 10 Which of the following is not a probable reason for a listing to expire without selling? 3- What is the difference between CLTA and ALTA policies? In the meantime, Bill gets another offer on the property from another buyer at a higher price. 7- Ben and Blanche receive a $200,000 offer on their home, which is listed at $208,000. Is depreciation accounted for by a hospital? buyer randy makes an offer to purchase. Bob Broker knows that another offer will be coming in at about the same time. 6 of 10 Which of the following statements is not true? Sample Final Exam for California Real Estate Practice Questions with no What is the primary criticism that sellers have about their agents? Refusing to make loans based on the racial composition of a neighborhood is called. 3- When handling a telephone inquiry, why should you limit the amount of information you give out about the property? 11 of 12 ECOA requires that a lender send a denial notice within: 12 of 12 The amount of debt, time and method of payment, interest rate and other loan terms are part of the: 1- What is the role of the Fed? 10 of 10 Which of the following statements is not true about a net listing? 97- Buyer Randy makes an offer to purchase one of Broker Toms listings on June 15. 1- What is the most important factor for a prospective homebuyer to consider in the decision to purchase? C. Is subordinate to a first mortgage. If the terms offered by the Buyer are acceptable to the Seller, the Seller signs the Offer Form to begin the sale. 5 of 10 Alice has decided that she will specialize in selling farm land. Hes no longer interested in seeing the inside and Marge agrees. This is not true of which duty? B. 85- Which paragraph of the purchase agreement states that the balance of the purchase price will be deposited into escrow prior to closing? What should Alice do? There . 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? B. Newsletters can be a very effective advertising forum for niche marketers. 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? Explain. Entails entering into two agreements simultaneously. How to make a Best Offer. 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. 1 of 10 Which of the following types of agency is not allowed in California? 3 of 10 Sara just bought her first new home. B. 27- Mr. and Mrs. Haley are purchasing beachfront property in an upscale development. B. D. Arrange to meet the prospect at your office. Course Hero is not sponsored or endorsed by any college or university. What should Pat do with the earnest money deposit? Bob receives an offer from a buyer that is 12% below Sam's asking price. 4 of 10 Once an offer has been accepted, the agent should do all of the following except which? The offer with the highest price 9 of 10 Which of the following items would not usually be included in a presentation manual for buyers? Pellentesque dapibus efficitur laoreet. 2 of 50 Residential property includes all of the following EXCEPT which? Suggest to the sellers that their listing price is too high. 100- What does the Real Estate Disclosure Law refer to? 10 of 10 Assistants who are hired to work part time: C. Usually get a percentage of the commission in addition to a salary. C. If Larry verbally accepted the offer, Kirk is bound by it. "No, you may lose the house." The property is in an area that could flood. 20- Which of the following would not be an essential component when researching the purchase of an apartment building? California: Real Estate Practice Sample of Final Course Exam. Whoever brings the buyer will get the commission. What should a licensees written employment agreement contain? C. Eric may not represent the sellers interests to the detriment of the buyer. C. It must specify a definite termination date. buyer randy makes an offer to purchasei miss you text art copy and paste. Properties are very liquid and can move quickly. B. 75- All but which of the following is NOT an AIDA feature? Sexta, 26 de novembro de 2021 . C. Supervises the Federal Housing Authority. Negotiate agreements regarding commission structuring. Present the offer and tell the seller that the check needs to be held until June 30. What kind of mortgage might they get? Which of the following statements is true? \hline \text { Annual inspection costs } & \$ 155,000 \\ A. 4- What is the agreement that a broker can enter into with a buyer? They will owe a balloon payment at the end of the loan term. 11. What would you say about Alexs actions? 7- What does the net operating income of a property represent? B. Sandy and Bill are putting 30% down on their home purchase. A. Gross income must be based on production. 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. 5- Under what circumstances can a loss on the sale of a personal residence be deducted from income taxes? 33 of 50 Sal bought a personal residence for $150,000. What is the market value of the property? What kind of lease does Jim have? B. I will do two practice listing presentations per week with an experienced agent for the next two months. buyer randy makes an offer to purchase 3- In what three ways can an assistant aid an agent with appointments? Why is it important for licensees to understand the Americans with Disabilities Act? At the end of the term, the loan balance will be negative. 4. What percent of loss did you have? Buys conventional, FHA and VA loans. 5 of 10 All of these would be effective at capturing a readers attention except which? The seller must file a bill of sale with the county clerk. The buyers family is pressuring them to purchase this home. She doesnt need a license to perform many activities at the firm, but which of the following would require her to have a license? D. Visiting a neighborhood with a co-worker could make you feel more comfortable. A. 3 of 10 Which paragraph of the purchase agreement states that if the buyer defaults after acceptance, he or she may be liable for the brokers commission? 1- What is important to know about unlicensed real estate assistants? 3- What is a good approach to use when contacting the owner of an expired listing? D. The appraised value prior to sale What is important to remember about capturing the readers attention? Her asking price was $560,000 and the property sold for $575,000. An apartment building for a vacant lot, B. Launch into your list of the homes special features and hope she changes her mind. 8 of 10 Which California Fair Housing law provides protection from discrimination by business establishments? The purchase price, plus improvements, C. The fair market value at the time of sale. 10 of 10 When a tenant agrees to pay all taxes, insurance, maintenance and repairs, that tenant has what kind of lease? The second mortgage has now become the primary loan. 2 of 10 How long must buyers and brokers keep the documentation on a foreign sale? What approach can Greg use to discourage the person from calling other agents? 19 of 50 When doing a competitive market analysis, the recently sold properties you include should have sold within what timeframe? A. List the details of all parties involved. 3 of 50 Paul is filling out the Natural Hazard Disclosure Statement. D. The property is in a state fire responsibility area. 5 of 50 Jane has been working with some buyers for several weeks. 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. A. Answer: B- Licensee Fred should take the offer to the seller and determine if the escrow deposit is acceptable. 4- What is a good method for estimating what a seller will net from the sale of the property? 4 of 10 RESPA gives the buyer the right to review the completed closing disclosure how long before closing? Which statement is true? Tom thereupon submits a full-price offer to the owner and purchases the property. 7 of 10 Which of these forms is not filled out by the seller? Select Review offer. What should Bill do? The owner has 30 days to notify the county assessor. Not waste anymore time on this house, the buyer will never make an offer. Could be a violation of state licensing laws. 8- When does a purchase offer become a legal contract? 30- Being prepared to handle incoming phone calls means all of the following except which? D. Lends good visual support to what the agent is saying. D. Broker Tom has only limited responsibility for the actions of his licensees. 1 of 10 Which item is not covered by CLTA, ALTA or ALTA-R insurance policies? the buyer is not allowed to make a counteroffer. Allows the agent to determine community market trends. 30 of 50 After six months time, manager Tim wants to terminate the lease of one of his month-to-month tenants. 22- Jane sold her personal home for $148,000. 39 of 50 Prospects Mike and Marge arrive with agent Elaine at a showing. 1- What do you need to check if you want to conduct a door-to-door canvass in a neighborhood? 65- Which of the following items is usually not prorated at closing? Who should Tommy recommend the owner consult with before making a decision? B. Exclusive-authorization-and-right-to-sell agreement. A. C. Greg has violated the duty of confidentiality to Kim. C. Prepare additional documentation to take to the presentation. The loan value is based on the appraised value, not the sale price. A. Ken is responsible for his own taxes, while the broker pays Sarahs. Facebook Instagram. Salesperson Sally tells her senior citizen buyers that the home they want to view is located in a neighborhood with several small children and loud teenagers. The lender must furnish a copy of the CFPB booklet to Abby no later than the third business day from which date? D. Have the broker send a thank you for listing letter to the sellers. What percent of commission the licensees can charge. Availability of multiple listing service, C. Broker-paid advertising and promotion, D. Assistance with filling out disclosures. The buyer must pay the broker a commission. wigan warriors west stand chef buddy microwave egg cooker instructions; telemundo la casa de los famosos en vivo A. Youll know how much house they can afford. What should Tom do? mejores programas bases de datos. Write a contingent counteroffer. \end{array} He sold the building for $1,000,000 and paid $60,000 in commission to the broker. Authors Channel Summit. yellowbrick scholarship reviews. D. Do not show the home between 10 a.m. and noon on Sundays. 2- When establishing rapport, whats one of the best ways to get to know your buyers? Is there a contract between the buyer and seller? 7 of 10 Which statement is not true about opening escrows? D. Goals must be realistic if you hope to accomplish them. B. 8. A. 2- When establishing rapport, whats one of the best ways to get to know your buyers? Bob Broker brings Sam Seller an offer with a higher price than the existing contract Sam has with another buyer. The interest rate will increase gradually over time. 3 of 10 A listing presentation can be compared to: 4 of 10 All of the following are benefits of listing with an agent except which? Anasayfa; Hakkmzda. Answer: D- They are effectively terminating the original offer. What kind of loan do they have? 2 of 10 Which is not a true statement about the Americans with Disabilities Act? FREE Offer to Purchase Real Estate Form - RealtyPact B. 1 of 12 California law requires that a licensee acting as a loan broker keep the Mortgage Loan Disclosure Statement on file for how long? B. Understanding the kind of responses your advertising generates, D. Being able to anticipate the callers requirements. 5 of 10 The principles of an agency relationship include all of these factors except which one? Jim has decided that he will learn all he can about the new subdivisions at the west end of town. C. Tell them that this home is an exceptional buy and encourage them to look anyway. The sellers want the earnest money check made payable to them instead. C. Offer to show the caller a newly-listed, not-yet-advertised property, even if one doesnt exist. 15- Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. 5. 4- Why is coordinating escrow so important and how can an assistant help? C. The seller did not disclose the problem on a sellers disclosure form so Pam is off the hook. Gives the names of lawyers who might require property assistance. B. In this case, multiply the monthly income ($600) by 12. 6 of 10 Which of these is an emotional reason that buyers buy property? There are several steps in calculating the answer to this question. 1 of 10 What kind of lease contains a recapture clause? Listen carefully to everything your prospects say and repeat some specifics back at appropriate times so that they know you have heard what they said. Plastic dishes last a long time because they are unbreakable. What should Bob do? C. Broker Harry deposits $1000 into his brokerage business account. Two weeks before the close of seller Jan's property, buyer Sam makes an offer. Then present the $208,000 offer. Suggest that the buyer look at a different house. A counteroffer represents a rejection of an offer. 8 of 10 Which of these statements about counteroffers is not true? 2- What is floor time and why is it important? 1 of 10 Which Fair Housing Law added sex to the list of protected classes? I think theyre asking a fair price., C. What do you think would be a fair price?, D. The comps say that this price is right on target.. A. 8 of 10 Proof of ownership of a property is called: 9 of 10 Who is responsible for ordering the preliminary title report? 88- Sally and Dan must pay 2 points on their new $65,000 loan. D. Seeking buyers for others agents listings. California: Real Estate Practice Ch7 Quiz with no answers. Secure documents that are public information from the courthouse and other sources available to the public. Enter your offer. 4- What is the agreement that a broker can enter into with a buyer? It can be considered an employment contract. 6- What items can an owner of an income-producing property deduct that an owner of a personal residence cannot? Hometown Real Estate, receives $100.00 each time they refer a customer to New Age flooring. 6- What items can an owner of an income-producing property deduct that an owner of a personal residence cannot? What should Bob do? B. Fusce, Explore over 16 million step-by-step answers from our library, acinia pulvinar tortor nec facilisis. 8 of 10 Which of the following circumstances would concern you about working for Broker John? In which stage of the General Adaptation Syndrome *(GAS) are bodily resources drained and stress hormones depleted? D. Reduces the monthly payment for a borrower during the initial years. It can provide a steady stream of future clients. B. 52- Which statement is true about a listing contract? Nam lacinia pulvinar tortor nec facilisis. 2- What kind of problem can result from a straight loan? If an item is already correct, write C on the line provided. 27 of 50 Tim and Sue have obtained a buydown loan on their newly built home. Prior to bringing an offer to purchase. D. Tim and Gail have qualified for an FHA loan. 7 of 10 Bill and Brenda bought their home for $150,000 seven years ago and have lived in it ever since. Present the $208,000 offer today and wait for a response from the sellers before he presents the other offer. 8- What does the Water Heater Statement of Compliance address? Click the "Allow" button. D. Supply cannot be moved to a high demand area. Harry has some buyers that he believes are ready to make an offer. 5 of 10 Which of the following would not be a reason to choose to be an assistant? Which statement is true? Pellentesque dapibus efficitur laoreet. To insure loans made by approved lenders, D. To sell loans to other secondary mortgage marketers. 16- Dave and Nadine have decided that they want to become property investors. 7- What does the paragraph in the listing agreement titled Entire Contract deal with? If a seller changes the terms of the offer to purchase, he has created a counteroffer. 6- How does a limited partnership differ from a general partnership? buyer randy makes an offer to purchase. A. C. The Bryants have not received any feedback from any showings in the past month. 5- When must a licensee provide an agency disclosure to a prospective client? D. Exclusive-authorization-and-right-to-sell agreement. The broker will not provide any. 16 of 50 When doing research to recommend a reasonable listing price for a home, the most critical part of the research deals with analyzing: C. Listing prices of homes that expired unsold, D. Selling prices of recently sold homes. Later that day, Kirk finds a home he likes better; so he withdraws his offer to Larry. B. Will placed an ad in the most recent Home Buyers Guide. 13 of 50 What is the most common reason that owners try to sell their homes themselves? A. C. Advertising in the telephone directory is cost effective because the directories can reach every home in the marketing area. D. A shopping center might have to remodel their public restrooms. What kind of mortgage are they looking for? 2- What is important to remember about multiple offers? 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. A. B. California: Real Estate Practice Chapter 17 Quiz with no answers. Broker compensation to other brokers. 6 of 10 A broker induces an owner to sell by telling him that Hispanics are moving into the neighborhood. 12- What are grant programs typically used for? 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. First, determine what you originally paid for the house: $139,900 x 1.10 (100% + 10% = 110% or 1.10) = $153,890. 37 of 50 Which of the following economic characteristics is true? Norm gave Pat a $500 earnest money check. 8 of 10 A lease that has no time limit is an: 9 of 10 Which of the following represents an intangible business asset? 3 of 10 What kind of ad usually combines both institutional and product advertising? 6- List four sections of an Internet website that might be of particular appeal to prospective buyers. 5 of 11 Which of these statements is true about a CalVet loan? 4- What items are not covered by any title insurance policy? 4- Whats a bonus closing and whats important to keep in mind about this technique? She should advise them to let the offer expire with no action so the buyers will get nervous. D. Have the prospects sign the disclosure about agency relationship. 7 of 50 Glenna and Amanda just bought their first home. 2- Name one advantage and one disadvantage of telephone contacts. 4 of 10 Which of the following is NOT a condition of the safe harbor test? 4. 8 of 10 Which of the following will give you comparative market data the fastest? 44- Jim owns a gift shop in a commercial building. D. Allows viewing access to strangers. C. Salespersons must perform all of their activities on behalf of their employing broker. 64- Which of the following is not a form of personal advertising? B. From whom may a salesperson receive compensation for performed activities? 1 of 10 Which of the following actions by an agent would most probably upset the sellers? an opinion of value for the day of the appraisal only. One offer is for $208,000; the other is for $200,000. 5 of 10 Which of these statements is not true about qualifying buyers? D. Give the sellers the price over the phone so that they can think about it before you meet with them. C. Pam should recommend that they counteroffer with a price halfway between asking and offering price.