Exam (elaborations)
GOLD COAST 45 HOUR POST LICENSING EXAM QUESTIONS AND ANSWERS 2024
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GOLD COAST 45 HOUR POST LICENSING EXAM QUESTIONS AND ANSWERS 2024
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GOLD COAST 45 HOUR POST LICENSINGEXAM
A home sells for $310,500. Expenses of the sale are $4,800. The brokerage fee is
$18,630. Prorations for taxes and interest are $5,036. The mortgage payoff is
$181,500. What are the seller's proceeds from the sale? - ANSWERS-$100,534
Filing a suit to quiet title is used when - ANSWERS-a title defect is found, which is
difficult to remove by ordinary means.
What are the benefits of restrictive covenants? - ANSWERS-Maintain and enhance
value
A married couple have prequalified for a $240,000 conventional mortgage. If they
put 20% down, they can buy a house for - ANSWERS-$300,000
What facts need not be disclosed in a real estate transaction? - ANSWERS-The
property was the site of a homicide.
What is a good graphic to show a seller that there will be more activity if the
property is competitively priced? - ANSWERS-The pricing pyramid
What's the downside for a principal who has a single agent? - ANSWERS-
Responsible for the single agent's acts
, What is the likely cause of a contract for sale of real estate being ruled as
unenforceable? - ANSWERS-Unwritten agreement
Aside from a property's location, what is the most important factor that
influences market value? - ANSWERS-Highest and best use
The margin is - ANSWERS-the percentage added to the index of an adjustable-rate
mortgage that results in the calculated rate.
A home sells for $370,000. The mortgage payoff is $262,500. What is the seller's
equity? - ANSWERS-$107,500
How often do mortgage loan originators need to have a criminal background
check? - ANSWERS-Every year
A written listing agreement with a self-renewing clause - ANSWERS-is void.
When you explain the pricing process during a listing presentation, you would
NOT ordinarily discuss - ANSWERS-the process of closing a sale.
What are the three keys to prospecting success? - ANSWERS-Organization,
numbers, and consistency
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