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Sales Associate License Qualifications (F.S. 475.17) - Answer- -18 Years of Age -High school diploma -Honest, Trustworthy, of good character and have a reputation for fair dealing -Does NOT have to be a Florida resident or U.S. citizent Custom Building - Answer- Building to the owner's specifications. Farming - Answer- Specializing in one type or style of property, or in a particular neighborhood. Appraising - Answer- The art of estimating value of property, where the fee is based ...

Samuel wants to do a 1031 exchange. He sold his investment property and has identified the property he'd like to buy next. Within how many days must he close on this property in order for it to qualify as part of the exchange? - Answer- a. 180 b. 30 c.45 d.60 a. He has 45 days to identify a property he would like to purchase and 180 days to close on it, from time of sale. In which form of co-ownership is a person's ownership inheritable? - Answer- a. Joint tenancy b. Tenancy by t...

Township - Answer- A square 6 miles on each side (6 miles square) containing 36 square miles (36 sections); also an (east-west) strip of land north and south of a baseline (tier). Section - Answer- A square 1 mile on each side (1 mile square) containing 1 square mile (640 acres). Quarter Section - Answer- One-fourth of a square mile-or 160 acres- of publicly owned land. Government lot - Answer- Fractional piece of land less than a quarter section resulting from geographical features ...

A licensed real estate broker has been hired by a lender to appraise a home for a buyer who has applied for an FHA loan. Whch statement is TRUE regarding this situation? - Answer- The broker is required to be a state-certified appraiser to perform this appraisal assignment. Leasehold estate do NOT include - Answer- A remainder estate. The Florida Real Estate Commission must notify which agency when it takes disciplinary action against any of the agency's licensees? - Answer- Division...

Real estate investment trust that are formed to buy, own and manage investment projects are called - Answer- Equity trust What Fl statute created the Department of business and professional regulation - Answer- FL 455 Universal Agent - Answer- All matters by power of attorney General Agent - Answer- Continuing basis for specific area Special Agent - Answer- Single Task Normal sales associate Subagency - Answer- Extension of another agency Subagent - Answer- A party who has be...

Brokers who list and sell smaller businesses are - Answer- business opportunity brokers. Before roadbuilding begins, a developer must submit a document to the local planning board for approval. The document is called a - Answer- subdivision plat map. Investors who don't live on the properties they own are - Answer- absentee owners. Real estate specialists who sell properties close to airports, seaports, and rail sidings work in which sector of the real estate business? - Answer- Indu...

Owner - Answer- An owner who does not reside on the property and who usually relies on a property manager to supervise the real estate Agricultural, 10 - Answer- ___ property is defined in Florida license law to mean agricultural property of more than __ acres. Appraisal - Answer- The process of estimating the value of real property; a supported, defended estimate of the value of real property as of a specific date. may not - Answer- A written opinion of the value of real property. B...

Expert Information - Answer- The Product that a real estate sales associate must market Property Transfer Market Conditions How to market real estate and business - Answer- The three areas of expertise that real estate licensees bring to the transaction - Knowledge of Residential Commercial Industrial Agricultural Businesses - Answer- Five major sales specialties that real estate agents are involved in Specifically marketing to a group of people ex. showing houses to doctors near...

A Business Broker - Answer- Specializes in the sale, purchase or lease of businesses. Is required to have a real estate license and may be licensed as a real estate broker or sales associate Follow-Up is - Answer- Keeping in contact with the new owner after the closing of the sale A builder constructs a house on an owner's lot according to the owner's plans and specifications. This is called - Answer- Custom Building A builder purchases several vacant lots in an established residen...

When money is paid out of the RE recovery fund, on behalf of a Florida Real Estate - Answer- the licensee's license will be automatically suspended, the max. amount that can be reimbursed is $50,000, the judgement holder cannot be reimbursed for attorney's fees and court costs Which of the following is true regarding the Florida RE commission? - Answer- Two members do not have to have a Florida Real Estate license The Fair Housing Act prohibits discrimination based on - Answer- Race,...