Exam (elaborations)
COLIBRI REAL ESTATE FINAL EXAM PART ONE 2024/2025
- Course
- Institution
COLIBRI REAL ESTATE FINAL EXAM PART ONE 2024/2025
[Show more]
Content preview
COLIBRI REAL ESTATE FINAL EXAMPART ONE 2024/2025
A parcel of land is 500 feet wide and 135 yards long . What's the age
property ? - Precise Answer ✔✔First , you need to convert the length of
135 yards to feet ( 135 x 3405 ) . Then , multiply the length by the width
to find the square footage ( 405 x 500=202,500 )
June , a small business owner , is moving out of state and needs to sell
her home as well as her store property . Broker Harold tells seller June
that he will take a lower commission on the sale of her house if she lists
her commercial property with him , too . Do you think Harold must
disclose his arrangement to the bu June's house ? - Precise Answer
✔✔No
Herman is the broker of Top Realty . Affiliated licensee Opal is the
designated agent for seller Craig . Herman's sister sees the property and
makes an offer . Do you think Opal is obligated to tell Craig that the
buyer is related to Herman ? - Precise Answer ✔✔Yes
During a family gathering , your brother - in - law mentions a desire to
see a property that you personally have listed . You make arrangements
to show him the property . Which statement is FALSE ? - Precise
Answer ✔✔Since you listed the property before your brother - in - law
asked about it , you cannot represent him as it's too late to disclose the
family relationship .
,Which of these do you think would LEAST LIKELY be considered a
material fact ? - Precise Answer ✔✔loud neighbors
Of these , which is a duty that a real estate licensee owes to the client
and the customer? - Precise Answer ✔✔disclosure
If listing agent Keith tells a potential buyer about Shirley's suicide , and
the buyer consequently withdraws the offer , do you think that the
executor of Shirley's estate has any recourse against Keith ? - Precise
Answer ✔✔Yes
The executor of Shirley's estate contracts with broker Keith to list her
home for sale is Keith required to disclose to a prospective buyer that
Shirley committed suicide in the property's garage ? - Precise Answer
✔✔No
Buyer's agent Allison assumes her out - of - town clients don't know
about the murder that took place in the house she is showing them . She
gathered every news article she could find about the crime and gave it to
the buyers before they made an offer on the house . Did Allison violate
her fiduciary duties by disclosing information about a murder without
being asked ? - Precise Answer ✔✔No
If a seller has knowledge of a sexual offender next door , he must
disclose it . - Precise Answer ✔✔False. Sellers typically are required to
disclose this information only if a prospective buyer asks directly .
, When a seller includes an " as is " clause in a contract , do you think that
it releases the seller from disclosing known latent defects that may be in
the home ? - Precise Answer ✔✔No
Seller Mark knew he had a leak in the attic . He hired a roofing company
to replace the shingles and didn't notice any more moisture in the attic .
Two weeks after buying Mark's house , Ann sees a new damp stain on
an upstairs ceiling and sues Mark . Do you think Mark was obligated to
disclose the leak ? - Precise Answer ✔✔No
Buyer Susan is looking for a home that's large enough for her to set up a
small tailoring shop in the garage . You know that the homeowners
association in the community where she wants to buy a home prohibits
this type of home business . This would be a material fact . - Precise
Answer ✔✔True
Which of these situations would LEAST LIKELY trigger the need to
discuss agency relationships ? - Precise Answer ✔✔a home show when
someone stops by the booth and picks up marketing materials
Broker Ben's listing for a property at 3521 Oak Street Ben's expires. A
week later, buyer client , Harriet , wants to see the 3521 Oak Street
property. Do think there could be a conflict of interest here ? - Precise
Answer ✔✔There could be a conflict of interest here. Ben probably has
confidential information about that property's seller. Ben should disclose
that he was the previous listing agent . Ben can disclose material defects
about the property .
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller YANCHY. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $16.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
80461 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now