Escrow account - Study guides, Class notes & Summaries

condominium Severalty ownership of air rights combined with an undivided interest in the common areas of real estate would MOST LIKELY describe a on probation A licensee could be active in the real estate business if his/her license is Agent Kenzie has terminated her relationship with her broker. The broker has returned her license to the BREP. Agent Kenzie has thirty days to place her license in escrow or find another broker Disciplinary actions that can be taken by the ...

An appraisal can be completed by which of the following? A home inspector A real estate broker A licensed appraiser using USPAP standards A mortgage loan originator - ANSWERA licensed appraiser using USPAP standards What is a BPO? Broker Price Opinion Best Practice Organization Best Prospective Offer Beyond Present Opportunities - ANSWERBroker Price Opinion Which of the following is incorrect? Farming methods include Direct Mail and Just Listed Post Cards. Farming only invo...

An economic recovery is defined as A) two successive quarterly declines in the gross domestic product. B) two successive quarterly increases in the gross domestic product. C) a period of higher housing prices. D) two successive periods of stock market gains. correct answers B) two successive quarterly increases in the gross domestic product. Explanation When consumers, lured by lower prices, venture back into the market, business activity increases and confidence begins to return. Sl...

Under RESPA, the servicer may require a borrower to pay into an escrow account to cover disbursements that are unanticipated or disbursements made before the borrower's monthly payments are available in the account, a cushion or reserve that must be no greater than _____ of the estimated total annual disbursements from the escrow account. - One half - One third - One sixth - One twelfth - One sixth. Under RESPA, a lender may require the borrower to establish an escrow account at closing...

PA Exam 3 with 100% Correct Answers 2023 Which of the following are NOT grounds in Pennsylvania for revoking a broker's license? A Being convicted of a felony B Agreeing with the seller to accept a commission that is more than the standard rate C Depositing an earnest money check into the broker's personal account D Advertising as a member of the Pennsylvania Association of Real Estate Professionals when the broker is not really a member - Correct Answer-B It is perfectly legal to agr...

45 Hour Post License Real Estate Florida Test Questions With Answers Latest Updated 2024/2025 | 100% Verified. When consumers, lured by lower prices, venture back into the market, business activity increases and confidence begins to return. Slowly, production facilities gear up to meet the new consumer demand, capital begins to flow back into business enterprises, and additional employees are hired. The three types of operating expenses of an income property are A) fixed, debt service, and...

NMLS S.A.F.E 2023/2024 Problem Solving Exam Questions and With Distinction level Marking scheme An escrow account analysis has been completed on Mary Thompson's loan. It is discovered that there is a $40 overage in her account. How many days does the servicer have to return the money? a. There is no refund b. The servicer would not return the money; it would be applied toward the principal amount c. The servicer has 30 days from completion of the analysis to return the overage d. Ms....

What action should the seller take when an offer is rejected? Make a formal counter offer. Complete a contract rider. Complete an addendum. Note the rejection on the offer. Note the rejection on the offer. Which of the following requires a written contract? The purchase of a TV for $378.00 A real estate lease for a term less than one year A real estate lease for a term longer than one year A potential buyer visiting an open house showing A real estate lease for a term longer...

Absolute Auction correct answers also known as a no-reserve auction, it is an auction in which there is no reserve or restriction on price. Goods cannot be withdrawn once bidding is opened UNLESS no bid is made within a reasonable time. Reserve Auction correct answers an auction in which a seller reserves the right to accept or reject the highest bid within a predetermined time. ALL AUCTIONS ARE WITH RESERVE UNLESS OTHERWISE STATED. Auctioneers can withdraw goods at any time until the complet...

FINAL EXAM (Bob Brooks)| 100 Questions and Answers 100% CorrectFINAL EXAM (Bob Brooks)| 100 Questions and Answers 100% CorrectFINAL EXAM (Bob Brooks)| 100 Questions and Answers 100% CorrectFINAL EXAM (Bob Brooks)| 100 Questions and Answers 100% CorrectWhen must earnest money and/or deposits accepted by the broker be put into the escrow account? a. Earnest money does not have to be put into an escrow account. b. By the close of business of the next banking day c. Within 24 hours d. Within ...