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COLIBRI REAL ESTATE FINAL EXAM PART ONE 2024/2025
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COLIBRI REAL ESTATE FINAL EXAM PART ONE 2024/2025
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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 .
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