Amp real estate sales - Study guides, Class notes & Summaries

As a buyer's agent, should you advise your client to get a home inspection on the property she is buying?>>> Yes. A qualified home inspector may spot defects not previously noted. (Agency Relationships/Contracts) A borrower must pay $5,600 for points on a $140,000 loan. How many points is the lender charging for this loan?>>> 4. Divide the dollar amount of the discount points by the loan amount. $5,600/$140,000=.04 or 4 1 point=1% of the loan amount (Calculations...

Broker moves office. Must give notice of any sales associates who are no longer employed with the broker of record. What happens to their licenses? - Answer- Involuntary in active status Legal term went to real estate brokers share office space such that the public thinks that a partnership exists - Answer- Quasi partnership The brokerage relationship disclosure requirements in chapter 475, FS do not apply to - Answer- An agreement to lease a residential condominium. The disclosures did no...

Arizona School of Real Estate & Business: Sales Exam Already Passed When a deed in lieu of foreclosure is given to a lender, which of the following is true? Time and cost are less B buys land from W using a deed of trust as security for the carryback. B makes all the payments except the final three and is now in default. W does nothing and decides not to foreclose until later. By doing this W is exercising his right of: Forbearance A commercial building is sold in a foreclosure for $100,000 le...

A sales associate was issued a citation for failing to timely notify the Commission of her change of address. How many days does the licensee have to either pay the citation or file an objection to the alleged violation? - Answer- 30 days Pam's home has an assessed value of $301,000. She qualifies for the Florida homestead exemption. The area she lives in has the following taxes: County tax rate is 8.6 mills, City tax rate is 4 mills and the school district tax rate is 6.1 mills. How much wi...

Florida Real Estate Sales Associate Preparation With Complete Solution...

RECA Residential Exam with Verified Solutions Rated 100% Fiduciary Representation -ANS- - Trust and confidence - Best interests - Loyalty 5 Ds of Role Clarity -ANS- 1. Discuss 2. Determine 3. Document 4. Disclose 5. Do Must disclose in writing -ANS- - the nature of services provided - whether professional has entered into representation relationship with other party - any conflicts of interest - any other facts that may influence consumers decision to proceed with relationship ...

Fiduciary Representation - ANSWER - Trust and confidence - Best interests - Loyalty 5 Ds of Role Clarity - ANSWER 1. Discuss 2. Determine 3. Document 4. Disclose 5. Do Must disclose in writing - ANSWER - the nature of services provided - whether professional has entered into representation relationship with other party - any conflicts of interest - any other facts that may influence consumers decision to proceed with relationship made to clarify and provide proof of undertandin...

To maintain a license, a real estate sales agent must - Answer- take a 10-hour post-licensing class within 12 months of passing the exam Any person, unless exempt from the Ohio Revised Code, who intends to sell, lease, or otherwise deal in any foreign real estate, shall file an application with the Superintendent of Real Estate in the form the Superintendent prescribes, and shall set forth - Answer- all of the answers shown Any person, partnership, or association who, for a fee or any othe...

Fiduciary Representation - Answer- - Trust and confidence - Best interests - Loyalty 5 Ds of Role Clarity - Answer- 1. Discuss 2. Determine 3. Document 4. Disclose 5. Do Must disclose in writing - Answer- - the nature of services provided - whether professional has entered into representation relationship with other party - any conflicts of interest - any other facts that may influence consumers decision to proceed with relationship made to clarify and provide proof of undertan...

Illinois Real Estate License Law IDFPR (Bureau of Real Estate Professions). - Answer-In Illinois, the real estate license law is administered by the? By the governor - Answer-How are the nine members of the Real Estate Administration and Disciplinary Board selected? Real Estate License Ace of 2000 - Answer-What is the name given to the Illinois license laws under which brokers and salespeople practice? Managing broker and broker - Answer-After May 1, 2011, the new license categories ...