Maine Real Estate Law()Questions & Answers 100% Correct(SCORED A)

Call bids at a real estate auction. - ANSWERIn Maine, a person without a real estate license may: A single instance of offering, attempting to conduct, or conducting real estate services on behalf of another for compensation. - ANSWERUnder Maine law, "real estate brokerage' means: Prospective clients at the time of entering into a brokerage agreement. - ANSWERIn Maine an agency that has a company policy that permits disclosed dual agency must provide a disclosed dual agency consent agreement to: In writing. Property disclosure must be provided in writing. Maine law does not require anyone to sign the disclosure. However, most designated brokers require the signature of the seller. - ANSWERIn Maine, property disclosure must be: The location of the private water supply. Since there is a residential component to the property, the licensee must ask the seller about the private water supply. - ANSWERJill lists a convenience store with an apartment on the second floor. Jill must ask the seller for disclosure information on: Malfunctions within the past two years - ANSWERWhich of the following must a buyer agent disclose to his client regarding the heating system in a residential property? Prior to or during the preparation of the offer - ANSWERIn Maine, information regarding the location of a leach field must be disclosed to the buyer: A. For a property with less than 1 or more than 4 residential dwelling units. B. If the licensee is acting solely as a principal, not as an agent for another. C. When the written communication from the licensee is a solicitation of business. - ANSWERIn Maine, a licensee is NOT required to provide a copy of the Real Estate Brokerage Relationships Form to a prospective buyer or seller: Presenting additional offers after the property is securely under contract with a confirmed closing date. The seller agent must present all offers to seller up until the time of closing. These of