Md real estate stuvia - Study guides, Class notes & Summaries

Real Estate brokerage is govern by: - Answer 1. Satutory Law - Brokers Act "Title 17" 2. Administrative Law - Code of Maryland Regulations (COMAR) Regulation is enacted and enforced by MD Real Estate Commission (MREC) Brokerage Services: - Answer For consideration: - *Selling, buying, exchanging, or leasing* any real estate or collecting rent - Assisting to *locate/obtain* for purchase/lease any residential real estate - Serving as a consultant Engage regularly in a business of.....

home equity loan - Answer A loan under which a property owner uses the property as collateral and can then draw funds up to a prearranged amount against the property. Also called a home equity line of credit, or HELOC. home inspection - Answer A thorough visual survey of a property's structure, systems, and site conditions conducted by a professional. Home Mortgage Disclosure Act - Answer A federal law, implemented at its creation by Regulation C of the Federal Reserve, that requires lend...

Inactive Status - Answer associate real estate brokers and real estate salesperons that are no longer affiliated with licensed real estate brokers and their license certificates and pocket cards are returned to the Commission. An inactive license - Answer expires 3 years from the date it was placed on inactive status Commission pays any penalty collected to - Answer General Fund of the State Instead of, or in addition to, suspension or revocation, for any violation of the Brokers Act (T...

The Real Estate Commission Duties - Answer - Investigates complaints of unlicensed brokerage activity - Investigate complaints about license behavior - Conduct hearings and administer oaths - Issue subpoenas for attendance of witness or production of evidence. - Take Dispositions - Seek injustices Guaranty Fund - Answer Reimburses the public with financial losses at the hands of a real estate licenses and their unlicensed employees * Initial licensee applications require to pay $20 a...

Maryland Real Estate Exam Prep with 80 Questions and Answers- Study Everywhere 100% Pass Who appoints members to the Maryland real estate commission? A. The State Senate B. The house of Delegates C. The executive director of the Commission D. The governor of Maryland - ANSWER-Answer: The governor of Maryland Which of the following is true concerning the Maryland Real Estate Commission? A. Its members are representative brokers from real estate boards or associations through Maryland B....

MD Real Estate License Exam Practice Questions and Answers The buyer must work exclusively with the broker during the term of the agreement. - ANSWER- Which of the following is one of the buyer's responsibilities as stated in the Maryland exclusive buyer agency agreement? -The buyer must work exclusively with the broker during the term of the agreement. -The buyer has seven days to consent to being represented by a designated or dual agency before terminating the agreement. -The buyer...