All of the following are true of the holder of a fee simple absolute estate EXCEPT:
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his estate terminates upon death
The listing agreement must contain all the following items except
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Statement regarding how to earn commission
The amount of commission is established
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Agreed upon by seller and broker
An appraiser would be most likely to rely on the cost approach in appraising a:
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church
A real estate committee met and decided to simplify real estate in an area by having
one commission structure at a low rate for all consumers. Is this legal?
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No-this is price fixing
A seller has received an offer at 80% of list price. Seller counter offers at 90% of list
the response, an offer of 98% of list price comes in from another buyer. The seller
wishes to sell to the second buyer. What is true?
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Withdraw the first buyer's counter-offer and then accept the second offer
The listing broker has done a visual inspection of the property and found no issues.
The seller's property disclosure states there are no problems. After closing, the buyer
finds long-standing issues with water entering the basement.
Who is most likely to be held liable for non-disclosure of this latent material defect?
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The seller, since brokers are not responsible for latent defects the seller
does not disclose
Mortgage default insurance
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Is paid by borrower to protect lender
A buyer wants to have a home business in a residential neighborhood. The broker
should advise the buyer to
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Check to see whether zoning will allow the business use.
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his estate terminates upon death
The listing agreement must contain all the following items except
,Give this one a try later!
Statement regarding how to earn commission
The amount of commission is established
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Agreed upon by seller and broker
An appraiser would be most likely to rely on the cost approach in appraising a:
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church
A real estate committee met and decided to simplify real estate in an area by having
one commission structure at a low rate for all consumers. Is this legal?
Give this one a try later!
No-this is price fixing
A seller has received an offer at 80% of list price. Seller counter offers at 90% of list
the response, an offer of 98% of list price comes in from another buyer. The seller
wishes to sell to the second buyer. What is true?
, Give this one a try later!
Withdraw the first buyer's counter-offer and then accept the second offer
The listing broker has done a visual inspection of the property and found no issues.
The seller's property disclosure states there are no problems. After closing, the buyer
finds long-standing issues with water entering the basement.
Who is most likely to be held liable for non-disclosure of this latent material defect?
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The seller, since brokers are not responsible for latent defects the seller
does not disclose
Mortgage default insurance
Give this one a try later!
Is paid by borrower to protect lender
A buyer wants to have a home business in a residential neighborhood. The broker
should advise the buyer to
Give this one a try later!
Check to see whether zoning will allow the business use.
