Reca residential unit 5 - Study guides, Class notes & Summaries

RECA Residential Unit 4 Exam Questions with Complete Solutions Latest Update (Already Passed) 3 Types of property defects - Answers Patent, Latent, Material latent What are Patent defects (on a property)? - Answers obvious flaw discovered upon reasonable inspection. caveat emptor applies (meaning that the buyer should have inspected enough to find anything like this). Unless the seller provides information or warranties regarding the patent defects, it is the buyers responsibility to address ...

RECA Residential Unit 5 Questions with 100% Verified Answers

RECA Commercial EXAM 2 Correctly Solved 100% Pass Commercial real estate assets have a number of attributes that make them unique relative to other types of investments. These attributes include the following: (x10) *ANS* 1. They involve land 2.Transaction time frames are long 3. Transaction costs are high 4. they are expensive 5. They are long lasting 6. Highly regulated 7. have a long production cycle 8. are management intensive 9. are heterogeneous 10. Involve measuring return on ...

3 fundamental principles of fiduciary duty. AKA the 3 principles that give rise to fiduciary duties in a representation relationship: - Answer-Trust and Confidence, Best Interests, Loyalty 3 fundamental principles of fiduciary duty. AKA the 3 principles that give rise to fiduciary duties in a representation relationship: - Answer-Trust and Confidence, Best Interests, Loyalty 8 General Obligations of REPs - Answer-Exercise Care and Skill, Act Honestly, Negotiate Favourable terms, Maintain...

RECA Residential Unit 2 Exam Questions and Answers (Graded A) 9 things that, when representing sellers, REPs can do - ANSWER-1. Identify the features, qualities, and advantages that relate to the sellers' property 2. Describe the property appropriately in the applicable listing service and property databases. 3. Market the property based on the features, qualities, and advantages. 4. Promote the property and answer their buyers' questions regarding it. 5. Accurately answer questions regardi...

Carl, a real estate professional, is registered with Prime Plus Real Estate Ltd. He has listed his brother's house for sale with the brokerage. A real estate professional with another brokerage contacts Carl and asks to preview the property as she has a potential buyer. What level of disclosure must Carl provide? - ANSWER Disclosure level 1 When evaluating an ethical dilemma, the first step is awareness. An individual may become aware of an ethical dilemma through a variety of ways. Which on...

Carl, a real estate professional, is registered with Prime Plus Real Estate Ltd. He has listed his brother's house for sale with the brokerage. A real estate professional with another brokerage contacts Carl and asks to preview the property as she has a potential buyer. What level of disclosure must Carl provide? Disclosure level 1 When evaluating an ethical dilemma, the first step is awareness. An individual may become aware of an ethical dilemma through a variety of ways. Which one of...