What is an escrow account - Study guides, Class notes & Summaries

Pearson Vue Test Questions and answers, 100% Accurate, Graded A+. Approved. Which of the following terms BEST describes personal property that, by its attachment to real property, is regarded as real estate? A. Emblements B. Personality C. Fixtures D. Appliances - -C A salesperson who completes a written listing agreement with a seller is helping to create a contractual relationship between the: A. salesperson and the seller B. salesperson and the buyer C. sal...

PA Exam 3 with 100% Correct Answers 2023 Which of the following are NOT grounds in Pennsylvania for revoking a broker's license? A Being convicted of a felony B Agreeing with the seller to accept a commission that is more than the standard rate C Depositing an earnest money check into the broker's personal account D Advertising as a member of the Pennsylvania Association of Real Estate Professionals when the broker is not really a member - Correct Answer-B It is perfectly legal to agr...

Sue the broker - Answer- Sales associate, Tim, received a signed contract from a buyer and ailed it to the seller. The seller agreed to the terms and the escrow deposit was deposited safely in the brokers escrow account. Tim has a disagreement with his broker and quits. The broker refuses to pau a commission since tim was not in his employ when the contact was actually received and signed. What should tim to? The one who engages the broker in a single agency relationship - Answer- Who is the ...

Ohio Real Estate Exam test bank Questions with answers 2023May a consumer who has been harmed by a licensee acting under her license as a real estate salesperson or broker immediately file a claim for payment from the Real Estate Recovery Fund? CORRECT ANSWER: No, the consumer must file a lawsuit, get a final judgment, and attempt to collect A listing agreement in which the agent may possibly be in competition with the client to see who can sell the house first is an exclusive CORRECT A...

1 Can a lender, as a condition of making a loan, require that any insurance be placed through a particular insurance agent or broker? - ANSWER-The loan recipient may always select a particular agent or broker of their choosing 2 A claimant can be any of the following EXCEPT - ANSWER-EXCEPT a person who is conducting an investigation of a claim on behalf of an insurer 3 All of the following are to be specified in an insurance policy EXCEPT - ANSWER-EXCEPT the financial rating of the insured...

Post Licensing 301 Practice Exam 1 Questions and Answers Already Passed What is the primary purpose of a real estate listing agreement? A) To establish the terms of the sale B) To define the property boundaries C) To grant an exclusive right to sell the property D) To assess the value of the property C) To grant an exclusive right to sell the property Which document is used to disclose property conditions to potential buyers? A) Sales Contract B) Buyer’s Agent Agreement C) Prop...

A home is being purchased for $275,000. The buyer agrees to an 80% loan with the seller paying $5,000 of the buyer's closing costs. What amount will the ... - $55,000 A national company desires a parcel of land which must be four times the size of its proposed building. If the building design includes 20,000 square feet .... - B) 2 acres A salesperson is convicted of a crime which involved activities as a real estate licensee. The Commission obtains a certified copy of the .... Acco...

In the State of Texas who is allowed to use a customized real estate contract? The real estate brokerage company The salesperson The broker Lawyers licensed to practice in Texas - Answer- Lawyers licensed to practice in Texas Marcy is 17 and married. Her spouse is stationed in the Middle East. She purchased a home shortly before Stan, her husband returns to the United States. Select a problem that exists with this situation. Offer and acceptance issue Competency issue Consideration iss...

Florida Real Estate STATE exam Questions and Answers 100% Pass The best protection that the public has during a Real Estate transaction is (are) A. The national and state association of REALTORS B. The punishment of licensees dealing dishonesty C. the high ethical standards of real estate agents D. FREC and the license law D. FREC and the license law A group license A. allows a broker to have a branch office B. allows a sales associate to work for more than one broker C. may be held by a...

312. Florida has established three authorized brokerage relationships. Unless otherwise established by agreement, what is the broker's relationship with the public? a. Nonrepresentation b. Single agency c. Dual agency d. Transaction brokerage - Answer- D. Transaction brokerage 242. A broker has been found guilty of mail fraud by a court and sent to jail. The broker's license will: a. Automatically be revoked b. Automatically be suspended c. Probably be revoked because of the con...