Thompson12

DRE Division of RE provides support services to the commission. It's under the Department of Business and Regulation. Sales associate Beginning of RE career. Performs RE services for compensation, but who does so under the direction, control, or management of a broker or owner developer. Application requirements Must be completed carefully to disclose anything relaed to moral turpitude or fraud. Felonies, misdemeanors and traffic offenses (except parking, speeding, inspection or traffic...

Summary Suspension- What is it and who issues it? An emergency order which immediately places a real estate license suspension when it is felt the licensee is a danger to the public. It is issued by the secretary of the DBPR A recommended order is issued by the _________. Administrative Law Judge The maximum term for a license suspension is _____ even if it is a first time offense. 10 Years A Licensee has ______ to pay a fine. 30 Days A licensee must report a felony conviction to FREC ...

Mortagee lender when you sell or transfers due on sale 2 mortgage clauses due on sale clause, acceleration clause acceleration clause the buyer defaulted government insured loan FHA loan most like an insurance company FHA loan government guaranteed loan VA loan requires a funding fee VA loan what is a penalty for a first time minor violation that is not accompanied by a fine? a notice of non-compliance What would a sales associate be charged with if he took duplicates of listin...

A subdivision plat map What is it called when a developer gives the land to a government body Dedication What business is a licensee engaged in who markets, leases and maintains property for someone else Property management In which service of real estate must a licensee disclose the agency relationship and the responsibilities of the relationship to the public Residential sales Which power authorizes the front to pass or revise rules Quasi-legislative All of the following would be gr...

A property manager generally does all of these except representation of the tenant. USA Bank contacted Aubrey, a sales associate with Blue Skies Realty, to do a Broker Price Opinion (BPO). The fee for the BPO was small so the bank paid Aubrey directly. This is illegal, since sales associate violated Chapter 475, F.S. A post-licensing education course must be successfully completed by sales associates before the first renewal of their license. If a sales associate does not successfully com...

Sales and leasing RE sales is the lifeblood of the brokering business Follow up Best way to ensure buyers and sellers Sales associates do this AFTER the sale RE sales associates specialize in any of 5 major specialties Residential Commercial Industrial Agricultural Businesses Residential RE Four or fewer residential units, vacant land zoned for four or fewer residential units, or agricultural property of 10 or fewer acres Farm area Brokers and sales associates prefer to select and...

Custom Building Building to the owner's specifications. Farming Specializing in one type or style of property, or in a particular neighborhood. Appraising The art of estimating value of property, where the fee is based on the time, expense and difficulty resulting in a non-biased defensible opinion of value. Property Management Managing property for absentee owners by maximizing profits and preserving the property. Florida Statute 475 The Florida statute designated as "The Real Estat...

Follow-Up is Keeping in contact with the new owner after the closing of the sale A builder constructs a house on an owner's lot according to the owner's plans and specifications. This is called Custom Building A builder purchases several vacant lots in an established residential subdivision. The builder constructs houses w/o having secured a buyer in advance of the construction of each home and advertises them for sale to prospective buyers. This is which type of residential constructi...

Pam's home has an assessed value of $301,000. She qualifies for the Florida homestead exemption. The area she lives in has the following taxes: County tax rate is 8.6 mills, City tax rate is 4 mills and the school district tax rate is 6.1 mills. How much will the property taxes be? [Section 18 Slide 31] $301,000 -$50,000 = $251,000 x .0126 (8.6 mils + 4 mils =12.6 mils) = $3,162.60; $301,000 - $25,000=$276,000 x .0061 (6.1 mils) = $1,683.60; $3,162.60+ $1,683.60 = $4,846.20 What are the ...

A compilation of the recorded documents relating to a parcel of land from which an attorney may give an opinion as to the condition of title (a history of title) Acceleration Clause A condition in a loan contract that permits the lender to require immediate repayment of the entire loan balance of the loan if the contract is breached or conditions for repayment occur, such as sale or demolition Acknowledgment A written declaration by a person signing a document, given before an officer aut...