Escrow chapter 3 - Study guides, Class notes & Summaries

Chapter 17 Iowa Law Questions with Verified Solutions It is legal, in the case of a large earnest money deposit, for the money to be put into an approved trust account with the interest being paid to the buyer. True False t Which of the following is not required to have an active real estate license? A property manager A person who sells only his neighbors properties A person who sells time shares A support person of a licensee who only works open houses. A person who sells time shares Af...

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...

NATIONAL REAL ESTATE EXAM QUESTIONS AND ANSWERS| 100% CORRECT 2024 How is an earnest money deposit held in escrow reflected on the closing statement? (a) Credit to the buyer (b) Debit to the buyer (c) Credit to both the buyer and seller (d) Credit to the seller - answera. The buyer pays the binder deposit when the contract is entered into. It is entered as a credit to the buyer since this portion of the purchase price has already been paid and will not have to be paid again. Since the ...

NATIONAL REAL ESTATE EXAM QUESTIONS AND ANSWERS| 100% CORRECT 2024 How is an earnest money deposit held in escrow reflected on the closing statement? (a) Credit to the buyer (b) Debit to the buyer (c) Credit to both the buyer and seller (d) Credit to the seller - answera. The buyer pays the binder deposit when the contract is entered into. It is entered as a credit to the buyer since this portion of the purchase price has already been paid and will not have to be paid again. Since the ...

Missouri Real Estate Exam Chapter 339 of the MO Statutes Covers: - ️ License Law - Code of Ethics - MLS Rules - For commercial agents only Susie's Employment Situation Susie is employed by broker Joe to show rental properties he manages, collects security deposits made out to the owner, and delivers leases. Based on these actions, Susie: - Must be a real estate licensee - Is violating MREC rules - Is creating a criminal offense - ️ Is not required to be a MO real estat...

a branch office must be overseen by what - broer salesperson broker parner or borker officer/associate a broker the chosses a fictitious name must - rester with sec of state and send copy to mrc. a inactice person license is held by who - the mrc. a none license selling realestate is what - class b misdemeanor a none licenseing is practincing real estate what can mrec do - do a restraining order a none licenses practincg real estate is gulty of what - calld b misdemeanor a real estate can...

Missouri Real Estate Exam Questions and Answers Chapter 339 of the MO Statutes is: Code of Ethics License Law MLS Rules For commercial agents only - Correct Answer ️️ -b Susie is employed by broker Joe to show rental properties that he manages. She shows rental units, collects security deposit checks made payable to the owner, and delivers leases. Based on these actions, Susie: Must be a real estate licensee Is violating MREC rules Is creating a criminal offense Is not required t...

A person works for an owner-developer and is paid on a salary basis. Along with that, they also earn a bonus for each lot sold in the development. Are they required to hold an active real estate license? - Yes. Anyone who makes a commission from sales must hold an active RE license. A prospective buyer of an existing condo (resale) unit just receive what document(s)? - 1. Most recent year-end financial report 2. Rules of the assocation 3. Governance form A sales associate receives an earn...

Property Management Certification Exam Study Guide || With Questions & 100% Correct Answers Property Management Certification Exam Study Guide || With Questions & 100% Correct Answers Associated Licensee - ANSWER - licensee who is affiliated with a broker in charge or a property manager in charge branch office - ANSWER - 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 ...

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...