Illinois broker - Study guides, Class notes & Summaries

ILLINOIS REAL ESTATE BROKER EXAM NEWEST 2024 COMPLETE EXAM AND PRACTICE QUESTIONS 300 QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+

ILLINOIS BROKER LICENSE STATE PORTION QUESTIONS AND ANSWERS

What is commonly referred to as the "Due-On-Sale" Clause in a mortgage or deed-of-sale? Alienation Clause What is the minimum consideration necessary for a deed to be valid? Does not have to be a monetary amount. Can be as informal as "with love and dignity" When is the deadline for an offeror to revoke a signed contract? As long as he/she has not received acceptance, they have the right to rescind. A contract written by a party who at the time was incompetent is: voidable If a s...

What is commonly referred to as the "Due-On-Sale" Clause in a mortgage or deed-of-sale? - ANSWER Alienation Clause What is the minimum consideration necessary for a deed to be valid? - ANSWER Does not have to be a monetary amount. Can be as informal as "with love and dignity" When is the deadline for an offeror to revoke a signed contract? - ANSWER As long as he/she has not received acceptance, they have the right to rescind.

Sue the broker - Answer- Sales associate, Tim, received a signed contract from a buyer and ailed it to the seller. The seller agreed to the terms and the escrow deposit was deposited safely in the brokers escrow account. Tim has a disagreement with his broker and quits. The broker refuses to pau a commission since tim was not in his employ when the contact was actually received and signed. What should tim to? The one who engages the broker in a single agency relationship - Answer- Who is the ...

Sandy wishes to start a new real estate company, although she has never had a real estate license of any type. She must be licensed for at least XX years before she can manage an office - Answer- Two An Illinois real estate agent, acting as a dual agent, is showing his listing that he knows has had water problems in the basement in the past. The seller has requested that he not divulge this information unless a buyer specifically asks about water. What is the correct action for the agent to t...

State Portion Real Estate Exam Questions and Answers Already Passed Not psychologically affected if Reputation of haunted ghost Operate INDIANA property management firm outside of the broker company What is Correct ? Broker me do with formal approval of original managing broke Listing agreement should be delivered to Owner Upon signing Broker hires interactive broker to conduct open house The broker may face disciplinary action for incompetent practice Broker a discovers a former buyers clie...

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Illinois Real Estate Broker PSI Practice Exam-with 100% verified solutions -tutor verified

ILLINOIS REAL ESTATE BROKER EXAM 2024/2025