Maine property disclosure - Study guides, Class notes & Summaries

In Maine, a person without a real estate license may: - Call bids at a real estate auction. Under Maine law, "real estate brokerage' means: - A single instance of offering, attempting to conduct, or conducting real estate services on behalf of another for compensation. In Maine an agency that has a company policy that permits disclosed dual agency must provide a disclosed dual agency consent agreement to: - Prospective clients at the time of entering into a brokerage agreement. In Mai...

In Maine, an agency relationship begins when the - correct answer Buyer or seller and agency sign an agreement establishing the agency relationship. Where a licensee has an agency relationship with a client, his/her most important duties are owed to: - correct answer The client. Which of the following statements is true? For an agent to become an appointed agent in Maine: - correct answer -The agency must have adopted the appointed agent concept. -The client must agree in writing to allo...

Maine Real Estate Law Exam Prep Questions With 100% Correct Answers. In Maine, a person without a real estate license may: Call bids at a real estate auction. Under Maine law, "real estate brokerage' means: A single instance of offering, attempting to conduct, or conducting real estate services on behalf of another for compensation. In Maine an agency that has a company policy that permits disclosed dual agency must provide a disclosed dual agency consent agreement to: Prospective clie...

Maine Adjuster Property and Casualty Exam 2 Questions and Answers 100% Pass The required minimum amounts of liability car insurance coverage in Maine - Answer- 50/100/25 Would a ferry crashing between the coast of Maine and Nova Scotia a be covered by the personal auto insurance policy - Answer- No Limit on Theft of Unscheduled Jewelry - Answer- $1500 When insurer and insured cannot agree on loss - Answer- they each hire an appraiser If the appraisers cannot agree on loss - Answer- they ...

Maine Real Estate ExamTruth in Lending - correct answer Truth in Lending (otherwise known as Regulation Z) is intended to do away with deceptive financing tactics, especially those involving hidden costs- for example, advertising a $250 car lease as zero-down and then tacking a $1,200 upfront payment at the time of contract disguised as an "incidental" acquisition fee. Freehold estates include: - correct answer The distinctive characteristic of freehold estates is that they endure for an ...

Maine Real Estate Law Exam Prep Study Study A buyer is "under contract" to purchase a property. The subagent of the listing agency finds out that the buyer just lost his job. What is the duty of the subagent? ️Inform the listing agency A condo association uses its By Laws to: ️Govern the day-to-day operations of the condo association A designated broker in Maine is: ️Responsible for the brokerage activities of anyone in her real estate brokerage agency. A Maine licensee shall...

Maine Real Estate test | 42 q&a 2023/24 For what minimum period of time must a real estate brokerage agency retain copies of rejected offers and counteroffers? A. 1 year B. 2 years C. 3 years D. 5 years - No, rejected offers and counteroffers must be retained for 1 year. A designated broker in Maine is: A. Responsible for the brokerage activities of anyone in her real estate brokerage agency. B. Any licensee with an active Broker license. C. A former licensee who is not activ...

For what minimum period of time must a real estate brokerage agency retain copies of rejected offers and counteroffers? A. 1 year B. 2 years C. 3 years D. 5 years No, rejected offers and counteroffers must be retained for 1 year. A designated broker in Maine is: A. Responsible for the brokerage activities of anyone in her real estate brokerage agency. B. Any licensee with an active Broker license. C. A former licensee who is not actively engaged in the practice of real est...

REAL ESTATE FINAL1. In preparing an estimate of value for a client, an agent must consider: A. The principle of contribution. B. The principle of substitution. C. Regional economic forces. D. All of the above. - correct answer All of the above A fixture is considered to be: - correct answer Real Property A seller who defaults on a contract for the sale of real estate may find himself: - correct answer Before a court that may order specific performance. Unless a consumer has specif...

True or False: With appointed agency, one affiliated licensee represents the client to the exclusion of all other affiliated licensees of the brokerage agency; more than one may be appointed if there is a team or a licensee is covering for vacation. A. TrueB. False - ANSWERA. True When must a client give consent to disclosed dual agency? A. At the time the client signs a listing agreement or buyer representation agreement with the brokerage agencyB. When the client encounters a situation th...