The seller found a buyer Study guides, Class notes & Summaries

While previewing a house, the salesperson notices water stains behind the draperies. the owner, when asked, denied there were any water problems. If the salesperson shows the property and fails to mention the water stains, the salesman is guilty of: a. fraud b. misrepresentation c. nothing, because his fiduciary responsibility is to the owner d. puffery (Ans- A (material facts) As evidence of leakage or flooding, water stains are material facts that must be disclosed, if known by the sale...

ETS Major Field Test (Practice Test): Bachelor's Degree in Business. The common characteristic possessed by all assets is a) Long life b) Great monetary value c) Tangible nature d) Future economic benefit Which Foreign Direct Investment (FDI) attempts to acquire particular resources at a lower real cost than could be obtained in the home country? a) Market-seeking FDI b) Efficiency-seeking FDI c) Resource-seeking FDI d) Strategic asset-seeking FDI Under the Uniform Comm...

GA MLS Cram Course Questions and Answers 100% Pass 31 days A licensee should search the National Do Not Call Registry on a regular basis and drop registered consumer phone numbers from their call lists. This should be done at least once every 10 business days Under the CAN-SPAM Act opt-out request must be handled within Yes, the agent can call for up to 3 months after the consumer makes an inquiry A potential buyer attends an "open house" on a listed property and inquires about...

CHAPTER Version A I. True or _________ 1. _________ 2. _________ 3. _________ 4. _________ 5. known as suppliers. II. Write down the letter of the answer that best answers the question or completes the statement. _________ 6. The term VFR travel refers to: A. Visiting Friends and Relatives B. Very Frequent Reservations C. Very Favorable Restrictions D. Trick question: VFR refers to nothing _________ 7. Which of the following is not a sector of the travel industry? A. Corporate t...

Colibri Practice Test Questions and Answers Already Passed 3. In real estate, which of the following is correct about the term "title?" Taxes and insurance are often prepaid at closing to establish the escrow account. On which page of the Closing Disclosure form will the buyer see an accounting of the escrow account set up? Page two, under other costs On page two of the form, other costs are itemized for buyers and sellers. Taxes, prepaids, and initial escrow payment at closing - ...

Real Estate State Practice 2/Answered 100% Correctly/Latest 2024 Real Estate State Practice 2/Answered 100% Correctly/Latest 2024 In which of the following would prevent a seller from providing marketable title? Mechanic's Lien The seller has required that the buyer must use his title insurance company and that brokers reduce their portion of the real estate commissions, increasing the seller's net proceeds This is illegal according to RESPA If a license mentions MLS when advertisi...

PSI National Exam for Real Estate Test Bank with complete solutions | Latest 2024 PSI National Exam for Real Estate Test Bank with complete solutions | Latest 2023/2024 A written agreement in which a purchaser agrees to buy and a seller agrees to sell is called ️ a contract Antitrust laws prohibit competing brokers from all of the following ️ 1. boycotting other brokers in the marketplace. 2. dividing the market to restrict competition. 3. agreeing to set sales commissions and management ra...

PSI Maryland Practice Exam Questions and Answers Already Passed If an older building cannot be air-conditioned, it is an example of ___________ ? A. Economic obsolescence. B. Functional obsolescence. C. Physical deterioration. D. External deterioration B. Functional obsolescence. An appraiser MUST be licensed or certified to handle Federally related work on residential property valued at more than ___________? A. $100,000. B. $250,000. C. $500,000. D. $1,000,000. B. $250,...

A seller wants to list the property with a broker, but wants to avoid paying any commission should the seller be fortunate enough to sell the property. himself. Which of the following should the seller avoid signing? A. an exclusive agency listing B. an exclusive right to sell listing C. an open listing D. all listings - Answer-B. an exclusive right to sell listing Mr. Smith listed his farm with broker Bob. Although Smith did not tell him, Bob knew he had to sell due to poor health. Wha...

WRA Final Exam Questions with Verified Solutions The buyer, in an effort to meet the terms of the Financing Contingency found in the WB-11 Residential Offer to Purchase, delivers a notice to the seller indicating that the buyer is ready to proceed to closing. Has the buyer waived the Financing Commitment Contingency? A:No, because the buyer does not have a check from the bank. B:Yes, because the financing contingency has been removed. C:No, because the buyer did not deliver a loan commitment...