Reca residential unit 6 - Study guides, Class notes & Summaries

RECA Residential Unit 2 Exam Questions and Answers 9 things that, when representing sellers, REPs can do -Answer-1. Identify the features, qualities, and advantages that relate to the sellers' property 2. Describe the property appropriately in the applicable listing service and property databases. 3. Market the property based on the features, qualities, and advantages. 4. Promote the property and answer their buyers' questions regarding it. 5. Accurately answer questions regarding the pro...

RECA Residential Unit 2 Exam Questions and Answers 9 things that, when representing sellers, REPs can do -Answer-1. Identify the features, qualities, and advantages that relate to the sellers' property 2. Describe the property appropriately in the applicable listing service and property databases. 3. Market the property based on the features, qualities, and advantages. 4. Promote the property and answer their buyers' questions regarding it. 5. Accurately answer questions regarding the pro...

RECA Residential Unit 2 Exam (Graded A Plus) with Questions and Validated Answers 9 things that, when representing sellers, REPs can do ANSWER 1. Identify the features, qualities, and advantages that relate to the sellers' property 2. Describe the property appropriately in the applicable listing service and property databases. 3. Market the property based on the features, qualities, and advantages. 4. Promote the property and answer their buyers' questions regarding it. 5. Accurately answer...

"Equity" meaning - correct answer The market value of the property, less the outstanding balance of the mortgage and any other financial obligation registered against the property Definition of "Mortgage" - correct answer The pledging of real property to a loender as security for a debt. In other words, a mortgage represents the security over property given to a lender for repayment of a loan. Meaning of redemption (as related to mortgages) - correct answer The act of pe...

RECA Residential Unit 8: Q&A All Correct 2023 What do REPs have a regulatory obligation to present and discuss with the consumer? - Answer - The Consumer Relationship guide (the Guide) By signing the guide (the consumer relationship guide), is the consumer committed to work with the particular real estate professional/brokerage? - Answer - No 2 types of consumer relationships - Answer - client and customer Difference between Common Law Agency relationship and Designated Agency Relati...

What are Alberta's six natural water sources? A) Surface water, rain water, rivers, river basins, lakes, and wetlands B) Surface water, rivers, river basins, frozen water, lakes, and springs C) Surface water, rivers, river basins, lakes, wetlands, and springs D) Surface water, rivers, river basins, lakes, wetlands, and wells C Which of the following statements are correct regarding a Conservation Easement? 1. A Conservation Easement allows the Alberta government to designate privat...

Unit 2(RECA)QUESTIONS WITH COMPLETE SOLUTION LATEST 2023The purposes of RECA according to the Act is the following... 1. Set and enforce rules for industry members to follow, to promote integrity, and protect the consumer from mortgage fraud. 2. Provide services that help industry professionals in the industry. 3. Administer (enforce) the Act through the Rules, Regulations & Bylaws Describe and explain the differences between the Rules, Regulations & Bylaws 1: Rules are a set of instr...

Unit 7 Quiz(RECA)correctly answered rated A+ 2023What are Alberta's six natural water sources? A) Surface water, rain water, rivers, river basins, lakes, and wetlands B) Surface water, rivers, river basins, frozen water, lakes, and springs C) Surface water, rivers, river basins, lakes, wetlands, and springs D) Surface water, rivers, river basins, lakes, wetlands, and wells C Which of the following statements are correct regarding a Conservation Easement? 1. A Conservation Easement ...

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 ...