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Property management – ANSWERS Abesntee ownership has increased the demand for which area of brokerage A fee based upon time and difficulty of appraisal – ANSWERS What is a real estate appraiser is paid A subdivision plat map - ANSWERSWhat does the local planning agency have the authority to approve Dedication - ANSWERSWhat is it called when a developer gives land to a governmental body? Property management - ANSWERSWhat business is a license engaged in who markets, leases ...

Township - ANSWERSA square 6 miles on each side (6 miles square) containing 36 square miles (36 sections); also an (east-west) strip of land north and south of a baseline (tier). Section - ANSWERSA square 1 mile on each side (1 mile square) containing 1 square mile (640 acres). Quarter Section - ANSWERSOne-fourth of a square mile-or 160 acres- of publicly owned land. Government lot - ANSWERSFractional piece of land less than a quarter section resulting from geographical features (e.g., ...

A Business Broker - ANSWERSSpecializes in the sale, purchase or lease of businesses. Is required to have a real estate license and may be licensed as a real estate broker or sales associate Follow-Up is - ANSWERSKeeping 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 - ANSWERSCustom Building A builder purchases several vacant lots in an established residenti...

501. A broker has a listing on a seller's house. The seller goes on vacation. During this time, the broker gets an offer for $78,000 and another offer for $80,000. What should the broker do? a. Present the $80,000 offer upon seller's return b. Accept the $80,000 offer on behalf of the seller c. Reject the $78,000 offer d. Present both offers upon the seller's return Reference: Ch. 4, Authorized Real Estate Brokerage Relationships, Presenting Offers - ANSWERSd. Present both offe...

What is the status of a sales associate's license if he/she does not complete the required 45 hours post licensing education prior to his/her first renewal cycle? a. Involuntary inactive b. Inactive and void c. Suspended d. Null and void - ANSWERSNull and void **every time you see 'post licensing' know that it is null and void Which mortgage clause allows the mortgagee the right to demand the outstanding loan balance plus accrued interest in the event that the borrower sel...

Chapter 20 - ANSWERSEstablishes the structure of the executive branch of Florida government Chapter 475, Part 1 - ANSWERSReal Estate Brokerage (FREC) Chapter 475, Part II - ANSWERSReal Estate Appraisal (FREAB) Chapter 475, Part III - ANSWERSCommercial Real Estate Sales Commission Lien Act Chapter 475, Part IV - ANSWERSCommercial Real Estate Leasing Commission Lien Act Chapter 455 - ANSWERSDefines practices and procedures of the Department of Business and Professional Regulation (D...

2 – ANSWERS Sarah holds a real estate license. She was asked to appraise a property. She can do so provided Sarah 1) Does not represent herself as state-certified, registered or licensed appraiser; does not accept a fee; and follows USPAP standards 2) Does not represent herself as state-certified, registered or licensed appraiser; does not accept a fee based on the appraised value; is not doing it for a federally related transaction, and follows USPAP standards 3) Does so only by using...

2 – ANSWERS Sarah holds a real estate license. She was asked to appraise a property. She can do so provided Sarah 1) Does not represent herself as state-certified, registered or licensed appraiser; does not accept a fee; and follows USPAP standards 2) Does not represent herself as state-certified, registered or licensed appraiser; does not accept a fee based on the appraised value; is not doing it for a federally related transaction, and follows USPAP standards 3) Does so only by using...

Contracts (in general) - ANSWERSagreement between two or more parties to do or not to do certain things -valid -contains all valid essentials -void - lacks one essential -voidable - maybe valid or void by one of the parties -enforceable - courts will enforce -unenforceable - courts cannot enforce Authority of real estate licensees to prepare contracts - ANSWERSLicensees may not draw lease agreements but fill in blanks on lease instruments on lease periods that dont exceed one year that...

A sales associate with ABC Realty was contacted by Big Bank to do a Broker Price Opinion (BPO). Since the fee for this was small, the bank paid the salesperson directly. This situation is - ANSWERSillegal, since the sales associate violated Chapter 475, F.S A real estate agents trade association that requires raising the professional and ethical standards of their members is the - ANSWERSNational Association of Realtors Property management customarily includes all of these but - ANSWERSrep...