Nebraska Real Estate Principles Guaranteed Success
Nebraska Real Estate Principles Guaranteed Success
Exam (elaborations)
Nebraska Real Estate Principles Guaranteed Success
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Course
Nebraska Real Estate Principles Guaranteed Success
Institution
Nebraska Real Estate Principles Guaranteed Success
Nebraska Real Estate Principles Guaranteed Success
An agent intending to work with a seller shall provide a written disclosure to such seller that shall
contain all of the following EXCEPT: ️️a statement that the broker will act as a dual agent
The following statements regarding relations...
Nebraska Real Estate Principles Guaranteed Success
An agent intending to work with a seller shall provide a written disclosure to such seller that shall
contain all of the following EXCEPT: ✔️✔️a statement that the broker will act as a dual agent
The following statements regarding relationships are true EXCEPT ✔️✔️The licensee by default
represents a buyer or tenant.
2. You must have a written contract to represent a seller or landlord.
YOUR ANSWER 3. You do not need a written contract to represent a buyer or tenant.
CORRECT ANSWER 4. You must have a written contract to represent a buyer or tenant
A fact which negatively affects the value of a property is a/an.. ✔️✔️adverse material fact.
A person with whom a licensee is working but has no agency relationship is known as ✔️✔️a
customer.
A seller's or landlord's agent shall not disclose any confidential information about the client
✔️✔️unless disclosure is required by statute, rule, or regulation or failure to disclose the information
would constitute fraudulent misrepresentation.
Under the Nebraska laws of agency, a broker is obligated to inform all of the following of the brokerage
firm's fiduciary responsibilities EXCEPT: ✔️✔️buyer's lender.
Before showing property to a prospective buyer, a licensee must provide the buyer with a:
✔️✔️Brokerage disclosure to buyer.
If the person you are working with refuses to sign an agency agreement ✔️✔️you may not list a home
without a written agency agreement
The SPCD form needs to be signed and dated by ✔️✔️All parties who are selling their interest
, The Seller Property Condition Disclosure ✔️✔️s prepared by the seller at the time of listing and must
be updated when changes occur to the property until acceptance of a purchase agreement.
Sellers should disclose on the SPCD ✔️✔️all known property conditions.
An SPCD is most likely needed for ✔️✔️residential property when the improvements are coupled with
a ground lease.
2. property that will be occupied by people.
3. residential property with 4 dwelling units.
CORRECT ANSWER 4. all of the above.
The seller's agent should ✔️✔️remind the seller to update the SPCD from time-to-time during the
listing period.
3. tell the seller to clearly identify which appliances are not included in the sale on the SPCD.
CORRECT ANSWER 4. Both 2 and 3 are correct.
Nebraska law requires a seller's agent to ✔️✔️disclose all known material facts about the property
When appliances are identified on the Sellers Property Conditions Disclosure as being in working order
✔️✔️Buyers should not assume that they are to stay with the property
The Sellers Property Conditions Disclosure ✔️✔️Does not relieve the seller's agent from disclosing
defects
If anything changes regarding the condition of the home during the listing period ✔️✔️The seller's
agent should remind the seller to update the form
The buyer finds out that the sellers SPCD was incorrectly filled out ✔️✔️The sale may not be canceled
because of problems with the SPCD
The buyer has a year after closing to try and recover damages
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