Maine Real Estate Final Exam Study Guide Test 2024.

Maine Real Estate Final Exam Study Guide Test 2024. Two fiduciary duties that never expire - correct answer confidentiality and accounting when must a client give consent to a disclosed dual agency? - correct answer at the time the client signs a listing agreement or buyer representation agreement with the brokerage agency A maine real estate licensee must present the real estate brokerage relationships form to a consumer when engaged in a substantive communication regarding a - correct answer 3-unit residential apartment building. It is not required for vacant land, commercial property, or residential more than 4 units Licensee Dustin receives an email from a consumer, Ellen, who lives in Maryland and is moving to Maine in 3 months. Ellen is visiting Maine next week and would like to see one of Dustin's listings. Must Dustin email Ellen a copy of the Real Estate Brokerage Relationships Form? - correct answer Yes, Whenever there is a substantive communication regarding real estate (in person, over the phone, via email, in the mail), provide the Real Estate Brokerage Relationships Form immediately. Which party or parties are required by the Maine Real Estate Commission to sign the Real Estate Brokerage Relationships Form? - correct answer The Maine Real Estate Commission does not require any signatures on this form. In fact, there are no signature lines. You list a property that has a nail salon on the ground floor and a residential apartment on the second floor. The property obtains its water from a private well. Which of the following information must you seek from the seller? - correct answer Since this property has a residential component, you must seek all of this information from the seller in order to make mandated property disclosure. At the latest, when must property disclosure information be conveyed to a buyer in Maine? - correct answer Prior to or during the presentation of an offer When it comes to mandated property disclosure, a Maine real estate licensee in the role of a transaction broker has the same obligation as a licensee in the role of an agent. - correct answer Although a transaction broker has no fiduciary duties to the customer, he or she must still provide mandated property disclosure.