VA Real Estate

Sole Proprietor: Principal Broker Owner - Answer-An individual broker, not a firm, trading under his or her bame or a ficticious name registered with the board. NO business entity firm license required Sole Proprietor: Non-Broker Owner - Answer-A brokerage firm owned by an unlicensed individual. The firm must get a business entity firm license before transacting RE business. The firm still must have a licensed principal broker Inactive Status - Answer-Any broker or salesperson not under su...

VA Real Estate Final Exam Questions and Answers 100% Pass According to the VRLTA, a copy of the written rental agreement must be provided to the tenant within ______________ of the agreement's effective date. One month In Virginia, a landlord must provide a copy of the written rental agreement. When must this be provided? Within one month of the agreement's effective date Which of the following is a task that a licensee could perform for a customer in a transaction? Providing the opposing p...

Fannie Mae (FNMA) - ANSWER-Government sponsored private corporation that generates funds for primary lenders by buying and selling FHA, VA and Conventional Loans. Minnie Mae (GNMA) - ANSWER-Federal Agency under HUD that operates the federal subsidy housing loan programs. Freddie Mac (FHLMC) - ANSWER-Organized to borrow money from pension and trust funds to purchase mortgages and pool them together and to sell bonds on the open market with mortgages as security. Primary Mortgage Market -...

Transact the client's affairs in a certain business. - Answer-A general agency empowers the agent to: The client (seller), the agent (broker), or by mutual consent. - Answer-A listing agreement may be terminated by: d. The buyer has had previous credit problems which may have an impact on loan qualifications - Answer-Which of the following MUST be disclosed by an agent to his client in a Real Estate transaction. a. Minority groups are moving into the area b. The average commission re...

Transact the client's affairs in a certain business. - ANSWER-A general agency empowers the agent to: The client (seller), the agent (broker), or by mutual consent. - ANSWER-A listing agreement may be terminated by: d. The buyer has had previous credit problems which may have an impact on loan qualifications - ANSWER-Which of the following MUST be disclosed by an agent to his client in a Real Estate transaction. a. Minority groups are moving into the area b. The average commission re...

VA Real Estate Exam 2023 Rated 100% Correct!! Transact the client's affairs in a certain business. - ANSWER A general agency empowers the agent to: The client (seller), the agent (broker), or by mutual consent. - ANSWER A listing agreement may be terminated by: d. The buyer has had previous credit problems which may have an impact on loan qualifications - ANSWER Which of the following MUST be disclosed by an agent to his client in a Real Estate transaction. a. Minority groups are m...