Mastersgrade

Linda has $30,000.00 as a down payment and gets a mortgage in the amount of $150,000.00 and there is no other consideration for the transfer. How much will the doc stamp tax on the deed be? 1) $1,050.00 2) $1,260.00 3) $630.00 4) $525.00 - ANSWER $1,260.00 Tax calculation: $150,000 + $30,000 = $180,000/100 = 1800 (taxable $100 units) x $0.70 = $1260.00 tax due. Heather has been using a roadway at the back of the 22 acres Pam owns. She has been driving down the roadway almost every da...

Which statement is true regarding the use of the term REALTOR? All real estate licensees are REALTORS All REALTORS are members of the National Association of REALTORS (NAR) The terms real estate licensee and REALTOR may be used interchangeably The Florida DBPR authorizes the use of the term REALTOR - ANSWER All REALTORS are members of the National Association of REALTORS (NAR) The term follow up refers to...? - ANSWER what a sales associate does for buyers and sellers after the sale E...

The best protection that the public has during a Real Estate transaction is (are) A. The national and state association of REALTORS B. The punishment of licensees dealing dishonesty C. the high ethical standards of real estate agents D. FREC and the license law - ANSWER D. FREC and the license law A group license A. allows a broker to have a branch office B. allows a sales associate to work for more than one broker C. may be held by a sale associate or broker associate D.allows a ...

Joint Ventures - ANSWER is a temporary form of business arrangement often encountered in real estate business. Joint Ventures - ANSWER is a temporary form of business arrangement often encountered in real estate business.

Owners that buy income properties as investments and depend on professionals to manage them - ANSWER Absentee Owners a Value estimated based on resent sales of similar properties in the same neighborhood, not an appraisal - ANSWER CMA -Comparative Market Analysis... A contractor is employed by an owner of land to build on that land to the owner's specifications - ANSWER Custom Building When a contractor builds on his own land with the hope of locating a purchaser after construction has...

The broker must retain copies of all paperwork, including rejected offers, for how many years? - ANSWER 5 A Salesperson has assisted a buyer in purchasing a 'For Sale by Owner'. The seller has agreed to pay the buyer's agent's commission from the proceeds of the sale. The Salesperson tells the seller to make the check out to them. The Salesperson has violated: - ANSWER Nevada Law A rancher is selling multiple parcels adjacent to each other including several vacant land lots where it is...

She may not be actively licensed. - ANSWERBroker Wilkins recently closed her office and went to work for the Division as the Deputy Administrator. What limitation is placed on Wilkins? Be a single agent of the seller. - ANSWERAgent Becker of 20/20 Realty listed and sold the Franklin home in 2004. In 2015, Becker has a listing on which Franklin wants to make an offer. Franklins agent, affiliated with gold realty, writes the offer and presents it through Becker, Becker Should... No, Caulfiel...

Nevada Sales Person - ANSWER 90 Hours of Instructions, Break down (45 hours of law) (45 hours of Principles) Nevada Broker/ Broker-Salesperson Education Requirements (Broker & Sales Person - ANSWER Pass Broker Exam, 64 Collage Units, 2 years full time experience = 16 college units Broker ONLY - ANSWER 2 years Full time experience with the previous 4 years. Financial responsibility. (ENOUGH MONEY TO RUN A BROKERAGE FOR 180 DAYS (*ON TEST*) Property Management Permit - ANSWER Real Estate ...

an unrepresented buyer submits an offer directly to the listing agent the agent must - ANSWER Provide the buyer a Duties Owed by a Nevada licensee Only the seller can fill out - ANSWER The SRPD The maximum liability of ERRF for an individual person is - ANSWER 100,000 What is the maximum amount per judgement that can be paid out of the Errf - ANSWER 25,000 State law allows representation of multiple parties to a transaction, however what authorization is required before moving forwar...

A Seller's Real Property Disclosure document required for all of the following properties EXCEPT a(n): - ANSWER New home. A Nevada licensee must give the Duties Owed by a Nevada Licensee form to prospective purchasers or tenants: - ANSWER no later than the time of entering an agreement to purchase or lease. The licensing law of Nevada requires that the: - ANSWER broker disclose information that materially affects the property even when the buyer does not ask for it. If a Nevada license...