Oregon real estate 2023 Study guides, Class notes & Summaries

Oregon Real Estate Final Exam Prep 2022-2023 Already Passed An example of novation is that the seller's liability for the obligation is replaced by the buyer's. Under Oregon law in a month-to-month tenancy, the landlord has a right to terminate a tenant's occupancy after 30 days' written notice. To realize the maximum value of a property, a reasonable degree of sociological and economic homogeneity is necessary, but it should not become monotonously uniform. In real estate, this concept is...

Oregon Broker Psi Exam 2023 Questions and answers, 100% Accurate. Graded A+ How long must real estate documents be kept? - -6 years, from the date the transaction was accepted, rejected, or withdrawn Who approves advertising? - -Principal broker When should the principal broker review brokers documents? - -7 days of the document's acceptance, rejection or withdrawal. The PB must sign and initial at the time of review How long must you keep attendance and continuing records? - -3 years...

Oregon Real Estate License Study (Section 1, 2, 3 {Section 6, Chapters 3, 4, 5, 6}). 2023 COMPLETE QUESTIONS AND ANSWERS ALREADY PASSED A+ Owner Reports - CORRECT ANS A property manager is obligated to give an accounting of an owner's property. The reports are usually given per month and an annual report. Reconciliation - CORRECT ANS A balance and reconciliation of the company's receipt and disbursement journal, company bank statement and each owner's ledger. A late rent paym...

A branch office registration is necessary to use: 1. a model unit, available for sale, in a subdivision for promotion of interest in the development. 11. temporary structure for dissemination of information. - correct answer -Neither I nor 11 A person can work as a secretary in a real estate office without obtaining a real estate license. That secretary can legally perform which of the following functions? 1. Transmit information from a multiple listing to a phone prospect if no one el...

An unlicensed personal assistant working for a licensed broker may do which of the following activities? 1. Write ads and submit them to the newspaper and online. 2. Host open houses. 3. Email brokers weekly updates to the broker's clients. 4. Write up an offer for a buyer and then have the broker sign the contract later. - correct answer -1. Write ads and submit them to the newspaper and online. A principal real estate broker hired a number of part-time employees to show propert...

How many days does a principal broker have to provide the name and account number of the bank after opening a trust account? - correct answer -10 business days What is the age a person has to be to get a reverse mortgage? - correct answer -62 years old and if married both persons must be at least 62 What is de-titling a manufactured home? - correct answer -Placing it on a lot permanently thereby changing it from personal property to real property. In so doing, ownership is evidenced by a d...

Oregon Real Estate Prelicense Practice Final Exam - correct answer -Oregon Real Estate Prelicense Practice Final Exam A few days after an owner signed a listing agreement he told the broker that he would not sell to anyone who was single or divorced. Under Oregon law, which of the following statements are TRUE regarding this situation? I. Discrimination based on marital status is covered by Oregon statutes. II. The broker may retain the listing. I only I and II Neither I nor II II o...

A branch office registration is necessary to use a model unit, available for sale, in a subdivision for promotion of interest in the development. temporary structure for dissemination of information. I only II only Both I and II Neither I nor II - correct answerNeither I nor II Which of the following categories of licensees, without charging a fee, could legally offer a seller an estimate of the sales price of the seller's property for the purpose of obtaining a listing? Real estate ...

Which of the following is NOT considered "Middle Housing" A) Cottage Cluster B) Townhouses C) Large multifamily homes D) Condo's - correct answer -Large Multi-family residences Which of the following documents do not need signatures for both buyer and seller? A) Final Agency Agreement B) Title Report C) D) - correct answer -Final Agency Agreement? Because if the seller doesn't accept the offer they are not obligated to sign Final Agency Agreement - correct answer -Sale...

An unlicensed personal assistant to a real estate broker could legally do which of the following? - correct answer -Deliver documents to a buyer. An Oregon real estate license must be held by a person who performs which of the following acts? - correct answer -1. Take a listing from a real property owner with the expectation of receiving a commission 2. Charge a consultation fee to a seller for advice on marketing real property Which of the following acts requires an Oregon real estate li...