Gold Coast Real Estate, All Chapters Quizzes, Gold Coast Real Estate School Exam Combo Study Guide Rated A+ 2023

Tract building - When a dev. Acquired land, records a plat map and uses a model centre from which sales may be made Local level - Planning, zoning, property taxation, building and health codes and regulations, and building moratoriums that affect development play a significant role in the cost and desirability of real estate Broker associate - A licensed broker working for another broker False - A Florida real estate license applicant must be a resident and citizen (true or false) Application Denial - You have 21 days to send a formal letter to the department for a hearing if: One - How mang brokers can a sales or broker associate work for Post license requirements - No grace period Sales associate first renewal - No grace period Exempt from licensure - Attorney in fact/ Attorney at Law Attorneys at law - My perform legal services on behalf ofntheir clients; they may prepare documents, handle closings, and give legal advice. Involuntary inactive - An individual who does not request renewal of their second or subsequent lecense, pay the required fees, or maintain their continuing education requirements will have their license placed in 2 years - A license may remain in involuntary inactive status for no longer than [rpt Special Agent - A special agent is authorized under agency law by the employer to perform a single act. The employment contract between the employer and agent establishes the limit of authority granted Presenting offers - A broker has a buty to transmit any and all offers to the employer including oral offers or offers made without a binder deposit Limited - A transaction broker provides what kind of representation Single agent - this agency relationship is created when a broker accepts employment under a single agency agreement. A broker may represent a seller or buyer , or a landlord or tenant. Principal - In a single agency relationship, the employer becomes the For sale By owner - Non Representation or (No Brokerage Relationship can also be called) FSBO - For sale by owner can also be called Stationary Construction - An active broker is required to have this open which must be registered with the department of Business and Professional Regulation where Negotiations and the closing of real estate transactions can be conducted with privacy Others - Licencees should make clear that they are dealing on their own account and not acting on the behalf of Public - Licencees should make known their status as licencees to members of the Serious negotiations - This Disclosure should be made prior to entering into Deposit - A form of Money, personal property, real property, or anything of value that is capable of being converted into cash. Closing - Typically the deposit is intended as partial payment of the purchase price at? Post dated checks - Are considered to be promissory notes and can be accepted as earnest money with the seller's approval. True - When a deposit is placed, or is to be placed, with a title company or an attorney, the licensee who prepared or presented the sales contract must indicate on