Estate brokerages Study guides, Class notes & Summaries

Colibri Real Estate Final Exam with Complete Solutions land contract buyer pays seller to occupy and use property net lease buyer pays rent and other expenses gross lease buyer pays only rent goes to heirs Tenants in common, 2 of 3 people die. Who gets the property of those who died? Tenant owns it in severality Joint Tenancy, 3 of 4 people die. Who gets property of those who died? Client Another word for principal race, nat. origin, sex, color, religion, disability, fa...

Humber Real Estate - Course 2, Module 2, Documenting Relationships with Sellers and Buyers (2023/2024) Already Passed What 4 things must be specified on both representation and customer service agreements? - The effective date and expiry date of the agreement (can only be one expiry date) - The method for calculating commission or other remuneration payable to the brokerage (in the case of a seller, the amount payable) - How the commission or other remuneration will be paid - The services that t...

MASTER SET HUMBER REAL ESTATE COURSE: 1 Latest Update 2023 with complete solution What does REBBA stand for? Real Estate and Business Brokers Act Whose role is it to enforce REBBA? RECO Purpose of REBBA? provide a framework for the responsive regulation of the real estate profession to protect consumers and ensure the integrity of real estate transactions is upheld. What Ontario government body is responsible for REBBA? The Ministry of Government and Consumer Services is 'responsible...

Under Ontario law, how is an 'agency relationship' defined? - Answer-The relationship between two parties in which one party (the agent) accepts responsibility for representing the other party (the principal) in dealing with a third party. While common law uses the terms 'Principal' and 'Third Party', what terms does REBBA use instead? - Answer-Client & Customer The underlying relationship of the brokerage, salesperson, seller and buyer is based on what? - AnswerThe Common Law of Agen...

Humber Real Estate - Course 2, Module 1, Explaining Services Available to a Seller or Buyer (2023/2024) Graded A+ Under Ontario law, how is an 'agency relationship' defined? The relationship between two parties in which one party (the agent) accepts responsibility for representing the other party (the principal) in dealing with a third party. While common law uses the terms 'Principal' and 'Third Party', what terms does REBBA use instead? Client & Customer The underlying relationship of ...

Which of the following is NOT true about a sale and leaseback of a commercial property? (a) Seller frees up funds (b) Ownership does not actually transfer (c) Buyer can deduct depreciation from his taxes (d) Seller is able to deduct rent payments from his gross income - Ownership does not actually transfer Which is not correct about PMI? (a) To request cancellation of PMI, you must be current on your loan. (b) For "high-risk loans" lenders are required to automatically remove PMI when ...

GA Real Estate Exam Questions With Verified And Updated Solutions. Leisure property - answerIncludes hotels motels golf courses resorts sporting arenas movie theaters and restaurants (Requires hands on management) industrial property rights - answerIncludes heavy or light manufacturing warehouse and distribution. Clear height is a key consideration Healthcare properties - answerIncludes doctors offices urgent care clinics hospitals require a specialized outfitting Office buildings - answ...

Unit 2(RECA)QUESTIONS WITH COMPLETE SOLUTION LATEST 2023/2024The purposes of RECA according to the Act is the following... - correct answer 1. Set and enforce rules for industry members to follow, to promote integrity, and protect the consumer from mortgage fraud. 2. Provide services that help industry professionals in the industry. 3. Administer (enforce) the Act through the Rules, Regulations & Bylaws Describe and explain the differences between the Rules, Regulations & Bylaws - correct a...

increasing the profits of brokerages Which one of these is NOT a responsibility of GREC? increasing the profits of brokerages administering real estate licenses overseeing the license renewal process enforcing the license law protect the public interest The Georgia Real Estate Commission's main purpose is to: generate revenue for the state protect the interests of license holders protect the public interest recruit and incentivize new brokers 6 members: 5 with real estate expe...

TX 30 Hour Principles of Real Estate I Exam Questions and answers already passed A portion of Lance's property can be used by the local utility company to maintain its power lines. What is this an example of? - correct answer Easement Several brokerages in a certain area agree to stop running advertisements in a local publication. What type of antitrust violation is this? - correct answer Group boycotting Homestead exemptions ______ property taxes for all homeowners by protecting a ce...