Nebraska Real Estate Principles Questions and Answers 100% Verified
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Course
Nebraska Real Estate Principles
Institution
Nebraska Real Estate Principles
The Commission requires that - a broker operate only under one business entity.
each broker shall record with the Commission the type of business form under which the broker is doing
business.
An agent intending to work with a seller shall provide a written disclosure to such seller that shall
...
Nebraska Real Estate Principles
The Commission requires that - a broker operate only under one business entity.
each broker shall record with the Commission the type of business form under which the broker is doing
business.
An agent intending to work with a seller shall provide a written disclosure to such seller that shall
contain all of the following EXCEPT: - a statement that the broker will act as a dual agent
A fact which negatively affects the value of a property is a/an.. - adverse material fact.
A person with whom a licensee is working but has no agency relationship is known as - a
customer.
A seller's or landlord's agent shall not disclose any confidential information about the client -
unless disclosure is required by statute, rule, or regulation or failure to disclose the information
would constitute fraudulent misrepresentation.
Under the Nebraska laws of agency, a broker is obligated to inform all of the following of the brokerage
firm's fiduciary responsibilities EXCEPT: - buyer's lender.
Before showing property to a prospective buyer, a licensee must provide the buyer with a: -
Brokerage disclosure to buyer.
If the person you are working with refuses to sign an agency agreement - you may not list a home
without a written agency agreement
The SPCD form needs to be signed and dated by - All parties who are selling their interest
The Seller Property Condition Disclosure - s prepared by the seller at the time of listing and must
be updated when changes occur to the property until acceptance of a purchase agreement.
, Sellers should disclose on the SPCD - all known property conditions.
An SPCD is most likely needed for - residential property when the improvements are coupled with
a ground lease.
2. property that will be occupied by people.
3. residential property with 4 dwelling units.
CORRECT ANSWER 4. all of the above.
The seller's agent should - remind the seller to update the SPCD from time-to-time during the
listing period.
3. tell the seller to clearly identify which appliances are not included in the sale on the SPCD.
CORRECT ANSWER 4. Both 2 and 3 are correct.
Nebraska law requires a seller's agent to - disclose all known material facts about the property
When appliances are identified on the Sellers Property Conditions Disclosure as being in working order -
Buyers should not assume that they are to stay with the property
The Sellers Property Conditions Disclosure - Does not relieve the seller's agent from disclosing
defects
If anything changes regarding the condition of the home during the listing period - The seller's
agent should remind the seller to update the form
The buyer finds out that the sellers SPCD was incorrectly filled out - The sale may not be canceled
because of problems with the SPCD
The buyer has a year after closing to try and recover damages
An estimate of the likely sales price of a property is - a competitive market analysis.
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