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Gold Coast Real Estate Questions And Accurate Answers
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Gold Coast Real Estate Questions And Accurate Answers ...
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Gold Coast Real Estate Questions AndAccurate Answers 2024-2025
Tract building - ANSWER When a dev. Acquired land, records a plat map and uses a
model center from which sales may be made
Local level - ANSWER Planning, zoning, property taxation, building and health codes
and regulations, and building moratoriums that affect development play a significant
role in the cost and desirability of real estate
Broker associate - ANSWER A licensed broker working for another broker
FALSE - ANSWER A florida real estate license applicant must be a resident and citizen
true or false
Application Denial - ANSWER You have 21 days to send a formal letter to the department
for a hearing if:
One - ANSWER How mang brokers can a sales or broker associate work for
Post license requirements - ANSWER No grace period
Sales associate first renewal - ANSWER No grace period
Exempt from licensure - ANSWER Attorney in fact/ Attorney at Law
Attorneys at law - ANSWER I provide legal services on behalf ofntheir clients; they may
prepare documents, handle closings, and give legal advice.
,Involuntary inactive - ANSWER An individual who does not request renewal of their
second or subsequent lecense, pay the required fees, or maintain their continuing
education requirements will have their license placed in
2 years - ANSWER A license may remain in involuntary inactive status for no longer than
Special Agent - ANSWER A special agent is authorized under agency law by the
employer to perform a single act. The employment contract between the employer and
agent establishes the limit of authority granted
Presenting offers - ANSWER A broker has a buty to transmit any and all offers to the
employer including oral offers or offers made without a binder deposit
Limited - ANSWER A transaction broker provides what kind of representation
Single agent - ANSWER this agency relationship is created when a broker accepts
employment under a single agency agreement. A broker may represent a seller or
buyer, or a landlord or tenant.
Principal - ANSWER In a single agency relationship, the employer becomes the
For sale By owner - ANSWER Non Representation or (No Brokerage Relationship can
also be called)
FSBO - ANSWER For sale by owner can also be called
Fixed Construction - ANSWER An active broker is required to have this open which must
be registered with the department of Business and Professional Regulation where
Negotiations and the closing of real estate transactions can be conducted with privacy
, Others - ANSWER Licencees should make clear that they are dealing on their own
account and not acting on the behalf of
Public - ANSWER Licencees should make their status as licencees known to members of
the
Serious negotiations - ANSWER A disclosure to be made prior to entering into
Deposit - ANSWER A type of Money, personal property, real property, or anything of
value that is capable of being converted into cash.
Closing - ANSWER Usually the deposit is intended as partial payment of the purchase
price at?
Post dated checks - ANSWER Are considered to be promissory notes and can be
accepted as earnest money with the seller's approval.
TRUE CORRECT ANSWER When a deposit is placed, or is to be placed, with a title
company or an attorney, the licensee who prepared or presented the sales contract
shall state on that contract the name, address and telephone number of the title
company or attorney with whom the deposit was placed.
Escrow or trust account - ANSWER May be held in a commercial bank, title company
which has trust powers, credit union, or savings and loan association located in the
state of Florida
cannot - ANSWER The escrow account ______ be held in a stock or bond brokerage
house
Commingled - ANSWER A broker shall not _________ or deposit the personal funds of any
person with any funds being held in escrow, trust or on condition
Next business day - ANSWER A sales associate or broker associate who receives an
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