Real estate utah law - Study guides, Class notes & Summaries

REAL ESTATE UTAH LAW QUESTIONS & ANSWERS (2023/2024)(VERIFIED ANSWERS)

What is a net listing? Is it illegal? - A net listing is selling a property for a determined price where the seller Only requires a small amount of money and let the agent have the rest (huge commission); it is ILLEGAL in the state of Utah After foreclosure, there's not enough money to cover all files of the mechanic's liens. What is the priority of payoff? - Laborers first, suppliers and subs second, general contractor last Where should a broker keep sales agents' licenses? - Broker's ...

Real Estate Exam Utah Law | Questions with 100% Correct Answers | Verified | Latest Update 2024

All of these items must have happened in order for settlement to have occurred according to the Utah REPC EXCEPT the following: - The proceeds of any new loan have been delivered by the lender to the seller or escrow/title office. Once you have completed all real estate pre-licensing classes and received a school certifying document, how long do you have in which to pass your licensing exam and apply for your real estate license? - one year A Closing Disclosure is a five-page form that pro...

b. be afforded a hearing before the Utah Real Estate Commission - Answer-Before a licensee's license may be suspended or revoked for prohibited discriminatory practices, the licensee must: b. be afforded a hearing before the Utah Real Estate Commission b. 90 days - Answer-After being notified of passing the license exam, an applicant has how many days to pay the appropriate license fee? c. Prominently displayed on the wall at his principal brokers office - Answer-Where must a sale...

b. be afforded a hearing before the Utah Real Estate Commission - Answer Before a licensee's license may be suspended or revoked for prohibited discriminatory practices, the licensee must:b. be afforded a hearing before the Utah Real Estate Commission b. 90 days - Answer After being notified of passing the license exam, an applicant has how many days to pay the appropriate license fee? c. Prominently displayed on the wall at his principal brokers office - Answer Where must a sales a...

A licensee has ________ _______ to notify the division in a signed statement of a felony, misdemeanors involving moral turpitude ---- this is not a DUI - 10 Business days A ___________ involving fraud, misrepresentation, theft, or dishonesty that resulted in a convistion or incarceration with in __________ years preceding the date of the application warrants an __________ denial of licensure. - Misadaminor, 3 Years, Attomatic 1 of the 9 supporting services situation/people who do not need a...

Escrow Sample Test – Utah 100% Correct Score An Escow is an arrangement that: (Select all that apply) (A) holds documents (B) holds funds (C) creates documents to affect a transfer of interest in a property (D) acts as an attorney (E) is responsible for guaranteeing funds - Correct Answer ️️ -(A) holds documents (B) holds funds (C) creates documents to affect a transfer of interest in a property (E) is responsible for guaranteeing funds When is it necessary to have closing docum...

Real Estate Exam Utah Law Questions With 100% Verified Answers. Where should a broker keep sales agents' licenses? - answerBroker's file What happens to sales agents' licenses when the broker's license is revoked? - answerTheir license is inactivated How does the broker get back in the business if his/her license is revoked? - answerMust start over with sales agent license, after waiting five years What is the main purpose of the continuing education? - answerTo protect the public Wh...