Resales require a Study guides, Class notes & Summaries

NMLS flashcards #2 (Latest Update A+) A customer asks his mortgage broker for the name of a good title company. The broker has a list of several companies with whom she has done business with in the past. At what point according to RESPA must she give the customer an AfBA disclosure? A. at least three days prior to closing B. At the closing table C. At the same time she gives the customer the list of title companies D. She is not required to give the customer an AfBA disclosure if she h...

Planning board = - ANSWER Comprehensive Board What is the right that government can take property for the public good? - ANSWER Eminent Domain How long is your NY real estate license issued for? - ANSWER 2 Years Resales require a _________________________________________________ , it is not required for new construction or through the court. - ANSWER Property Condition Disclosure Form What do brand new properties require? - ANSWER A Warranty What happens to you if your broker is s...

Provide the buyer with a duties owed by a nevada licensee - Answer if an unrepresented buyer submits an offer directly to eh listing agent what must the agent provide? the sellers real property disclosure - Answer only the seller and the seller only can fill out what disclosure? $100,000 - Answer what is the maximum liability of the ERRF for any individual person is... $25,000 - Answer what is the maximum amount, per judgment, that can be paid out of the ERRF? consent to act - Answer...

NMLS flashcards #2 (Latest Update A+) A customer asks his mortgage broker for the name of a good title company. The broker has a list of several companies with whom she has done business with in the past. At what point according to RESPA must she give the customer an AfBA disclosure? A. at least three days prior to closing B. At the closing table C. At the same time she gives the customer the list of title companies D. She is not required to give the customer an AfBA disclosure if she h...

WGU C214 OA Financial Management. What is included in the Income Statement and NOT in the Statement of Cash Flows? - Depreciation Expense Computation of Net Income: A co. sold products in 2014 for $120k and collected $100k cash and remainder in 2015. Co. incurred $70k expenses for 2014 and paid $100k which included $30k for expenses incurred in 2013. What is net income for 2014? - Computation of Net Income (R-E=NI) $50,000 Net Income = $120k - $70k = $50k, or Revenues - Expenses Incurre...

Which of the following is NOT a specific lien? a. an unrecorded mortgage b. a mechanic's lien c. a judgement lien d. a blanket mortgage - Answer c. a judgement lien Which of the following is NOT an encumbrance on real property? a. lease b. easement c. homestead right d. restrictive convenant - Answer c. homestead right Which of the following is NOT an appurtenance? a. easement right b. mineral right c. water rights d. trade fixtures - Answer d. trade fixtures The physical c...

Planning board = - ANSWER Comprehensive Board What is the right that government can take property for the public good? - ANSWER Eminent Domain How long is your NY real estate license issued for? - ANSWER 2 Years Resales require a _________________________________________________ , it is not required for new construction or through the court. - ANSWER Property Condition Disclosure Form What do brand new properties require? - ANSWER A Warranty What happens to you if your broker is s...

Planning board = Comprehensive Board What is the right that government can take property for the public good? Eminent Domain How long is your NY real estate license issued for? 2 Years Resales require a _________________________________________________ , it is not required for new construction or through the court. Property Condition Disclosure Form What do brand new properties require? A Warranty What happens to you if your broker is suspended? Your Susp...

Planning board = - correct answers Comprehensive Board What is the right that government can take property for the public good? - correct answers Eminent Domain How long is your NY real estate license issued for? - correct answers 2 Years Resales require a _________________________________________________ , it is not required for new construction or through the court. - correct answers Property Condition Disclosure Form What do brand new properties require? - correct answers A W...

A customer asks his mortgage broker for the name of a good title company. The broker has a list of several companies with whom she has done business with in the past. At what point, according to RESPA, must she give the customer an AfBA disclosure? If the referring party does not have an ownership or other beneficial interest, an Affiliated Business Arrangement (AfBA) disclosure is not required by RESPA. Which would NOT be considered a RESPA violation? A thing of minimal value used in t...