Trust escrow accounts - Study guides, Class notes & Summaries

Trust-Escrow accounts

Massachusetts Real Estate Salesperson License Questions and Answers 100% Pass RE Salesperson License requirements? 18 years old, 40 hour class, pass the exam, must affiliate with a broker to practice and may not accept direct client payments Broker's License requirements? 3 years salesperson experience, 40 hour class, pass the exam, $5,000 bond and pay a fee. What is MLS? Multiple Listing Service. It's a marketing tool used by Salespeople to show their listings. Difference between RE Salesp...

Deposits - *Must deliver to the broker and deposit earnest money (or any money) into a trust account either*: • within 3 business days or • within 4 calendar days after acceptance as stated in the REPC, or as otherwise noted in the REPC. Broker will have a non-interest bearing trust account and an interest bearing trust account. The interest on the one account will go to the Utah Affordable Housing program. *Must be reconciled monthly* *Unlimited number of trust accounts* Real Estate...

SC Property Management License Exam with Complete & Verified Solutions | 2024 Update PM & PMIC licenses need to renewed biennially - Answer ️️ -June 30th (end of state's fiscal year) Conversion - Answer ️️ -to use trust funds for the purpose other than the purpose of which they are held. Unlawful use of funds. Customer - Answer ️️ -a buyer, seller, landlord or tenant who uses the services of a real estate licensee but does not establish an agency relationship through a writte...

in accordance with TN law, transaction records should be maintained for a period of correct answer: Three years a type of listing illegal in TN correct answer: A net listing TN licensee Doug wants to advertise another brokers listing. whose permission must he have to do this correct answer: The property owner what is the minimum number of years that brokers in TN must keep records of escrow/trustee accounts correct answer: Three a principal broker in TN, has a legal responsibilit...

mortgage Broker - Answer- Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors Mortgage Banker - Answer- Provide their own funds for the purpose of providing mortgage financing Correspondent Lender - Answer- Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk Origination - Answer- The process of creating a new mortgage loan U...

SC Property Management License Exam with Complete & Verified Solutions | 2024 Update PM & PMIC licenses need to renewed biennially - Answer ️️ -June 30th (end of state's fiscal year) Conversion - Answer ️️ -to use trust funds for the purpose other than the purpose of which they are held. Unlawful use of funds. Customer - Answer ️️ -a buyer, seller, landlord or tenant who uses the services of a real estate licensee but does not establish an agency relationship through a writte...

Kovats NJ Real Estate Exam Review Questions with Correct Answers advertising - Answer-- must have broker/brokerage firm name on all advertisings - websites must link to brokerage website and mention broker contact info - licensee name has to be equal in prominence if not less to broker name - mass emails must have unsubscribe buttons - broker has to review and approve realtor - Answer-A member of the National Association of Realtors licensees may offer a free estimate of value a...

MO Real Estate Exam Practice Questions and Answers Mo Statute 339 - Correct Answer ️️ -License Law RSMO 1986 License Law - Correct Answer ️️ -Any person who performs a RE service on behalf of another party for CONSIDERATION must be licensed; i.e. broker transactions, managing property, appraising, counseling, syndicating, auctioning Consideration - Correct Answer ️️ -Includes $ compensation, exchange of free services, or any other valuable good or service that a person expects...

EOC test for gold coast real estate course|Complete Questions with 100% Correct Answers what are the 3 areas that a licensee are required to have expert knowledge? property transfer, valuation, marketing when a developer acquires a large tract of land and records a subdivision play map, and uses a model center from which sales are made is called? tract building focusing on one type or style of property or a particular neighborhood farming/farm area sales associate who wishes t...