Four purposes of respa - Study guides, Class notes & Summaries

RESPA - ANSWER-Real Estate Settlement Procedures Act; Allows borrowers to receive pertinent and timely disclosure regarding the nature and costs of the real estate settlement (closing) process; Enacted in 1974, the law was originally proposed to add more transparency to costs associated with certain real estate transactions and to eliminate abusive practices, such as kickbacks, which artificially increase the cost of settlement services. When RESPA must be obeyed - ANSWER-When a loan is a fed...

FloridaFlorida Real Estate STATE exam The best protection that the public has during a Real Estate transaction is (are) A. The national and state association of REALTORS B. The punishment of licensees dealing dishonesty C. the high ethical standards of real estate agents D. FREC and the license law - ANS D. FREC and the license law A group license A. allows a broker to have a branch office B. allows a sales associate to work for more than one broker C. may be held by a sa...

Florida real estate business (2022/2023) Already Graded A Florida real estate Residential property in Florida is a family home that is a single family dwelling, a duplex, a triplex (3units) or a quad (4 units) or vacant land that has been zoned for 4 units or less. Farm/Agriculture residential is a family home on less than 10 acres land. Commercial property is income producing property such as a retail center or an apartment complex of more than four units. The real estate professional must be a...

How many baseline and meridian systems in CA? - ANSWER-3 A resident of Nebraska who owns property in CA dies while in Vermont. The probate procedures for this property are in? - ANSWER-CA In the order in which they are to occur, the three steps of agency discosure are? - ANSWER-disclose, elect, confirm The value of a residential property is best measured by which of the following groups of characteristics? - ANSWER-Demand, utility, scarcity, and transferability Collateralized loan - ...

NYREI practice exam questions and answers already passed For the income approach to appraisal, value is a reference to what? the worth of the investment Which method of property description is most frequently used in New York State? Metes and bounds One important characteristic of investing caused Bill to invest in certificates of deposit rather than real estate. Bill was concerned with liquidity. Who sets the legal description? surveyor Dwelling policies generally exclude water damage. Joh...

The best protection that the public has during a Real Estate transaction is (are) A. The national and state association of REALTORS B. The punishment of licensees dealing dishonesty C. the high ethical standards of real estate agents D. FREC and the license law - Answer D. FREC and the license law A group license A. allows a broker to have a branch office B. allows a sales associate to work for more than one broker C. may be held by a sale associate or broker associate D.allows a ...

NYS Real Estate Exam Questions And Correct Answers. Complete Verified Solutions Which of the following is considered a fixed operating expense? utilities, cleaning expenses, insurance premiums, management fees. Insurance Premiums What is overage rent? Rent calculated on a percentage of sales volume what is the amount a buyer owes at closing equal to? The excess of the buyers debits over the buyers credits real estate agents are typically what kind of agent special agent what is the em...

Florida Real Estate STATE exam Questions and Answers|100% Pass The best protection that the public has during a Real Estate transaction is (are) A. The national and state association of REALTORS B. The punishment of licensees dealing dishonesty C. the high ethical standards of real estate agents D. FREC and the license law - Answer-D. FREC and the license law A group license A. allows a broker to have a branch office B. allows a sales associate to work for more than one broker C. may b...

Real Estate Sales Person Exam Prep (California) (2022/2023) Rated A+ When agent Andy took a listing, he promised the seller that he would advertise the property in a magazine until it was sold. Andy told the seller he submitted the ad, but the magazine said Andy never contacted them or submitted the ad. Andy is guilty of: Actual Fraud A fee simple estate is: an estate of inheritance If an appraiser is appraising a special purpose property he would probably use the: Cost Approach The main pur...

Property management - Answer- Abesntee ownership has increased the demand for which area of brokerage A fee based upon time and difficulty of appraisal - Answer- What is a real estate appraiser is paid A subdivision plat map - Answer- What does the local planning agency have the authority to approve Dedication - Answer- What is it called when a developer gives land to a governmental body? Property management - Answer- What business is a license engaged in who markets, leases and main...