A buyer and seller hav Study guides, Class notes & Summaries

California Real Estate Exam 2023 Question Bank, Over 700 Questions And Answers Broker A receives two offers on Seller B's house, which is listed for sale at $250,000. The first offer is for all cash at $200,000. The second offer is for 20% down with 80% financing for the full price. What should the broker do with respect to both offers? Present both offers to the seller as soon as possible. The two primary documents dealing with payment of a loan are the mortgage or deed of trust and a pr...

Which factor is best for housing counselors to use when determining how much a client can afford to spend on purchasing a home? A. Debt to-income ratios B. Annual gross income C. Savings D. Options A, B, C E. None of the above - Answer- D. Options A, B, and C A person or company that makes loans for real estate purchases. "Loan officer" is a related term that refers to a representative of a lending or mortgage company who is responsible for soliciting homebuyers and for qualifying and...

Promulgated contracts practice exam 2023 Already Passed!!

Promulgated contracts practice exam with correct solutions Which of these forms is least likely to be involved in the sale of unimproved property? A buyer and seller have been in negotiations. They have everything in writing, have agreed to all terms, the contract is signed and changes initialed. Today, the written acceptance of the final agreement has been communicated to the other party. What is today called? How many lawyers are on the Broker-Lawyer Committee? According to the NAR Co...