Escrow statement - Study guides, Class notes & Summaries

Timeshare units can be created: - correct answer in any unit unless prohibited by local laws Receipt of Public Offering Statement shall take place no later than: - correct answer Date of sale To be valid, a Public Offering Statement must be: - correct answer signed and dated Disclosure of Recession of Rights must appear in bold face print in the: - correct answer contract and public offering statement Escrow account for timeshare sale shall not be held by: - correct answer the develo...

Salesperson is working for a principal, but the salesperson exceeds authority in agreement. Principal does nothing to correct the actions, and the public is led to believe the actions were okay. Agency? - Answer-Estoppel Amount stated in a purchase contract in case the buyer breaches is called: - Answer-Liquidated In a sublease with a positive leasehold who benefits from excess rent? - Answer-Sub-lessor Property taxes are 1,525. 1st half paid by seller closes November 2nd - Answer-512.57 De...

RESPA disclosures? due dates? - Answer-3 days after application: Home loan tool kit Loan estimate List of HUD counselors Mortgage Servicing Disclosure Statement Know before you owe booklet Special Info Booklet 3 days before consummation: Initial Closing Disclosure AfBA disclosure At consummation: Final Closing Disclosure Initial Escrow Statement (45 days after closing) After closing: Annual Escrow Statement Servicing Transfer Statement (sent 15 days before transfer) RES...

a running stream is considered - ANSWER-real property water found on the land in watercourses, such as natural springs, streams, or rivers and in bodies of water, such as ponds or lakes is called - ANSWER-surface water What is riparian rights - ANSWER--riparian property owners have reasonable use of the follow water - the owner of property bordering a stream or river has riparian rights -the owner of adjacent land may not lawfully divert all available waterand thereby deprive a riparian ...

What is a tax allocation district? - A district where property is charged a higher property tax in order to build infrastructure for that area Which of the following is a factor that affects accessibility? a. Continuity Incorrect b. Mobility substitutes c. Air superiority d. Matriculation - Mobility substitutes Predatory loans often have fees that cost more than... - 5% of the total amount of a loan. Under the veteran loan program, a veteran that purchases a property must make the proper...

COLORADO REAL ESTATE FINAL EXAM REVIEW QUESTIONS & ANSWERS. GRADED A+ According to the Exclusive-Right-To-Sell Listing Contract, what happens to the earnest money if the buyer defaults? - -BuyerThe seller gets the funds The journal: - -is a chronological record of all receipts and disbursements made by the broker from the escrow bank account Title passes from the grantor to the grantee: - -when the seller signs the warranty deed When earnest money is withdrawn from the escrow account a...

Timeshare units can be created: - correct answer in any unit unless prohibited by local laws Receipt of Public Offering Statement shall take place no later than: - correct answer Date of sale To be valid, a Public Offering Statement must be: - correct answer signed and dated Disclosure of Recession of Rights must appear in bold face print in the: - correct answer contract and public offering statement Escrow account for timeshare sale shall not be held by: - correct answer the develo...

Timeshare units can be created: - correct answer in any unit unless prohibited by local laws Receipt of Public Offering Statement shall take place no later than: - correct answer Date of sale To be valid, a Public Offering Statement must be: - correct answer signed and dated Disclosure of Recession of Rights must appear in bold face print in the: - correct answer contract and public offering statement Escrow account for timeshare sale shall not be held by: - correct answer the develo...

RESPA disclosures? due dates? - ANSWER 3 days after application: Home loan tool kit Loan estimate List of HUD counselors Mortgage Servicing Disclosure Statement Know before you owe booklet Special Info Booklet 3 days before consummation: Initial Closing Disclosure AfBA disclosure At consummation: Final Closing Disclosure Initial Escrow Statement (45 days after closing) After closing: Annual Escrow Statement Servicing Transfer Statement (sent 15 days before transfer) RES...

DID NOT PROVIDE FULL DISCLOSURE TO HIS PRINCIPAL AS REQUIRED - Answer-A broker has a long term listing with his principal with a price that had been fully researched at the time of the listing a year ago. He has just been informed that the property next to his has been rezoned. this means that the principals property is likely to increase significantly in value. the broker informs one of his investors, who buys the property at full price. This makes the seller happy after such a lengthy listing....