Va real estate - Study guides, Class notes & Summaries

Transact the client's affairs in a certain business. CORRECT ANSWER A general agency empowers the agent to: The client (seller), the agent (broker), or by mutual consent. CORRECT ANSWER A listing agreement may be terminated by: d. The buyer has had previous credit problems which may have an impact on loan qualifications CORRECT ANSWER Which of the following MUST be disclosed by an agent to his client in a Real Estate transaction. a. Minority groups are moving into the area b. The ave...

Virginia Real Estate Exam Prep, VA Questions and answers | Latest 2024/25

Transact the client's affairs in a certain business. - Answer- A general agency empowers the agent to: The client (seller), the agent (broker), or by mutual consent. - Answer- A listing agreement may be terminated by: d. The buyer has had previous credit problems which may have an impact on loan qualifications - Answer- Which of the following MUST be disclosed by an agent to his client in a Real Estate transaction. a. Minority groups are moving into the area b. The average commission...

In Virginia, a landlord must provide a copy of the written rental agreement. When must this be provided? - ANSWER-Within one month of the agreement's effective date Which of the following is a task that a licensee could perform for a customer in a transaction? - ANSWER-Providing the opposing party with signed copies of paperwork Erin, a contractor and licensee, is selling one of a group of homes she built this year. Which of the following is true about her disclosure responsibilities? - A...

Champions Powerhouse Training SAE 146 Questions with Verified Answers An area of neighborhoods or sub divisons that is serviced by your firm. - CORRECT ANSWER Geographic Farm A plan by which you develop to gain name recognition - CORRECT ANSWER Marketing Plan Becoming different in your approach through growth and development - CORRECT ANSWER differentiate All the properties in a particular price range, in the area your firm services - CORRECT ANSWER economic farm Words or cont...

what happens to Lease transactions: security deposits. Any security deposit held by a firm or sole proprietorship? correct answersshall be placed in an escrow account by the end of the fifth business banking day following receipt, unless otherwise agreed to in writing by the principals to the transaction. Each such security deposit shall be treated in accordance with the security deposit provisions of the Virginia Residential Landlord and Tenant Act, Chapter 12 (§ 55.1-1200 et seq.) of Title 55...

Virginia VA Real Estate Licensing Exam - National Portion Latest Update Actual Exam 100 Questions and 100% Verified Correct Answers Verified by Professor

If there is in effect at the date of the foreclosure sale a real estate purchase contract to buy the property foreclosed upon and the real estate purchase contract provides that the earnest money deposit held in escrow by a firm or sole proprietorship shall be paid to a principal to the contract in the event of a termination of the real 25 estate purchase contract, what shall happen> correct answersIf there is in effect at the date of the foreclosure sale a real estate purchase contract to bu...

VA Real Estate Practice Exam Tested Questions With Verified Correct Answers < Already Passed > A broker is NOT required to hold money in an escrow account if: A. The deposit amount is less than $500 B. All parties to the transaction have agreed, in writing C. Closing is scheduled in less than 30 days D. The purchaser is a non-profit organization - ANSWER : All parties to the transaction have agreed, in writing According to the Virginia Landlord-Tenant Act, a landlord's right ...

Real estate class final exam(2023- 2024)With complete updated solution Which of the following cannot be a trustee? - answerCPA The discount points are 3%, which represents $2,700. The buyer down payment is 20%. What is the purchase price of the property - answer100%-20%= 80% $2,700/3%= $90,000 90,000/80%= $112,500 A method of legal description that uses definite property lines and starting points is called? - answerFormal metes and bounds The seller wants to net $175, 000 after paying a 6...