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Bob Hogue Real Estate Questions and Answers Already Passed What is the “fair housing act” designed to prevent in real estate transactions? Discrimination based on race, color, religion, sex, national origin, disability, or familial status. What is a “listing agreement” in real estate? A contract between a property owner and a real estate broker authorizing the broker to find a buyer for the property. What is a “mortgage contingency” in a real estate purchase contrac...

Absentee Owner - A property holder who does not reside on the property and who usually relies on a property manager to manage the investment. Appraisal - The process of developing and communicating an estimate of a property's Appraiser - Appraisers charge a fee based on the time and difficulty of the appraisal assignment and are not paid commission. Broker Price Opinion (BPO) - A broker's written opinion of the value of a particular property that may not be used in connection with the or...

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Bob Hogue Real Estate Class Test Questions and Answers Already Passed What is the penalty for practicing real estate without a license in Florida? It is considered a third-degree felony. What must happen for a contract to be considered legally enforceable in real estate? The contract must have an offer, acceptance, consideration, and be in writing if required by the Statute of Frauds. How many days does a buyer have to cancel a new residential condominium contract after signing? ...

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Requirement that the infrastructure for sanitary sewers, potable water, and waste treatment facilities be in place before new development is allowed is the - Answer-Concurrency Provision The only active general partner in a real estate brokerage partnership has his license suspended. All of the licenses of the sales associates in that brokerage are - Answer-placed in inactive status Legal Title always passes from the seller to the buyer - Answer-When the deed is voluntarily delivered and vo...