Chapter 4 escrow accounts - Study guides, Class notes & Summaries

Chapter 4 Escrow accounts

An appraisal can be completed by which of the following? A home inspector A real estate broker A licensed appraiser using USPAP standards A mortgage loan originator - ANSWERA licensed appraiser using USPAP standards What is a BPO? Broker Price Opinion Best Practice Organization Best Prospective Offer Beyond Present Opportunities - ANSWERBroker Price Opinion Which of the following is incorrect? Farming methods include Direct Mail and Just Listed Post Cards. Farming only invo...

licensee who is affiliated with a broker in charge or a property manager in charge Associated Licensee A sub office of a company in which full-service real estate activities are conducted and at which a broker-in-charge or property manager-in-charge is licensed to conduct real estate transactions. branch office a wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation Broker Broker who is designed as...

Massachusetts Real Estate Salesperson License Questions and Answers 100% Pass RE Salesperson License requirements? 18 years old, 40 hour class, pass the exam, must affiliate with a broker to practice and may not accept direct client payments Broker's License requirements? 3 years salesperson experience, 40 hour class, pass the exam, $5,000 bond and pay a fee. What is MLS? Multiple Listing Service. It's a marketing tool used by Salespeople to show their listings. Difference between RE Salesp...

Property Manager Eligibility Requirements Able to read, write, and understand English Real Estate Broker Practice May engage in building housing and selling housing, or may sell or negotiate the sale of any lot in any subdivision of land comprising of 5 or more lots. Agent Eligibility Requirements 1. Able to read, write, and understand English 2. Is a high school graduate or GED holder 3. Has successfully completed course of study (60 hours) prescribed by the Commission at an ...

MASSACHUSETTS REAL ESTATE SALESPERSON LICENSE/ EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+ RE Salesperson License requirements? - -18 years old, 40 hour class, pass the exam, must affiliate with a broker to practice and may not accept direct client payments Broker's License requirements? - -3 years salesperson experience, 40 hour class, pass the exam, $5,000 bond and pay a fee. What is MLS? - -Multiple Listing Service. It's a marketing tool used by Salespeople to show their listings...

Massachusetts Real Estate Salesperson License Questions and Answers 100% Pass RE Salesperson License requirements? 18 years old, 40 hour class, pass the exam, must affiliate with a broker to practice and may not accept direct client payments Broker's License requirements? 3 years salesperson experience, 40 hour class, pass the exam, $5,000 bond and pay a fee. What is MLS? Multiple Listing Service. It's a marketing tool used by Salespeople to show their listings. Difference between RE Salesp...

Florida Real Estate Exam Questions Linda purchases property in Escambia County from Susan. Linda has $30,000.00 as a down payment and gets a mortgage in the amount of $150,000.00 and there is no other consideration for the transfer. How much will the doc stamp tax on the deed be? 1) $1,050.00 2) $1,260.00 3) $630.00 4) $525.00 - ANS $1,260.00 Tax calculation: $150,000 + $30,000 = $180,000/100 = 1800 (taxable $100 units) x $0.70 = $1260.00 tax due. Heather has been using a ...

Bob Hogue chapter 5 John Anderson is a licensed real estate sales associate. Under which name may he register and be licensed: a.) Complete Real Estate Sales Services b.) John Anderson Brokerage c.) John Anderson, LLC d.) John Anderson and Partners - ANS John Anderson, LLC A sales associate receives a binder deposit from a prospective buyer and Thursday morning. Later that same day, the associate gives the binder deposit to his broker. By the end of business on what day of the we...

Chapter 16-Escrow and Closing Already Rated A+ Which of these transactions requires the use of a Closing Disclosure? ️New home purchase with conventional financing A contract states that the taxes be prorated between the buyer and seller. The taxes have been paid in advance. The proper entry on the closing statement is? ️Credit the seller and debit the buyer The escrow requires that the taxes be prorated between the buyer and the seller. The taxes have not been paid. The property...