theory and practice: Real Estate Practice : Lesson 454 - 12/14/09 12:17 PM
#454
During a title search the attorney discovered that an heir to an estate had not properly signed a deed before the property was transferred.
This defect of title could most likely be cured by a letter of estoppel.
Is this true or false ?
Take your time. The solution is … (0 comments)
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theory and practice: Real Estate Practice : Lesson 453 - 12/14/09 12:15 PM
#453
A home was built several years ago and was actually constructed without a functioning heat or air conditioning system.
If an appraiser were to use the cost depreciation approach he would refer to this exclusion of heat and air in the buildiong construction as external obsolescence.
Is this fact … (0 comments)
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theory and practice: Real Estate Practice : Lesson 452 - 12/14/09 12:14 PM
#452
An appraiser was contacted an asked to appraise a home.
There have been quite a few sales in the area due to the recent economic climate and the lower of prices.
The best type of appraisal for the appraiser to use in this situation is an income capitalization approach … (0 comments)
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theory and practice: Real Estate Practice : Lesson 451 - 12/14/09 12:14 PM
#451
If money is held before the acceptance of an offer of a sales contract for the purchase of a home, the money belongs to both the seller and the buyer.
Is this true or false ?
Remember to take your time. The solution is posted below the wildlife photo.
… (0 comments)
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theory and practice: Real Estate Practice : Lesson 450 - 12/14/09 12:13 PM
#450
Sally defaulted on her mortgage and subsequently missed a few payments in the process.
He lender had to begin the foreclosure process.
Before the foreclosure slae took place Sally paid back the entire amount and cured the debt.
Sally has actually excercised her rights of statutory equitable limitation.
Is … (0 comments)
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theory and practice: Real Estate Practice : Lesson 449 - 12/14/09 12:13 PM
#449
If a buyer gives a deposit check to a broker it can be held by the broker and retained contingent upon the rejection or acceptance of a buyer's offer.
Is this fact true or false ?
Please remember to take your time. The solution will be posted below the royalty free … (0 comments)
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theory and practice: Real Estate Practice : Lesson 447 - 12/14/09 12:11 PM
#447
If the commission rate a listing broker has with a seller becomes a source of contention between the seller and the broker, the broker can change the commission structure at will without the consent of the selller, but the seller has the right to refuse the change to the … (0 comments)
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theory and practice: Real Estate Practice : Lesson 446 - 12/14/09 12:10 PM
#446
Any time a seller or buyer wants to create an agency relationship with a broker all the principal has to do is agree to the agency relationship orally.
It actually doesn't have to be in writing.
Is this true or false ?
Take your time. The solution is posted … (0 comments)
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theory and practice: Real Estate Practice : Lesson 445 - 12/14/09 12:09 PM
#445
A house sits on top of a hill not far from the city landfill.
You can see the dump trucks in the destance, but a nice forest is nearby.
The agent says to the buyer, "This is absolutely one of the most beautiful views you'll find in the county, … (0 comments)
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theory and practice: Real Estate Practice : Lesson 444 - 12/07/09 01:41 AM
#444
Any time a broker takes a listing the seller has given the broker the right to enter into a firm contract on behalf of the seller and decide the selling price if the seller can't decide.
Is this fact true or false ?
Take your time. The solution is posted … (0 comments)
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theory and practice: Real Estate Practice : Lesson 443 - 12/07/09 01:41 AM
#443
When we talk about dual agency we're usually talking about a form of agency which is considered legal as long as the agent receives the same amount of money and compensation from both of the principals involved in the agency agreement.
Is this considered to be true or false … (0 comments)
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theory and practice: Real Estate Practice : Lesson 442 - 12/07/09 01:40 AM
#442
Your company listed a home for seller A.
B came to see you about the house and you told B that you couldn't give them any information about A's house until they signed a buyer's agency agreement.
Does B have to sign a buyer's agency agreement ?
Take your … (0 comments)
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theory and practice: Real Estate Practice : Lesson 441 - 12/07/09 01:40 AM
#441
An agent has an obligation to perform the duties in an agency relationship of confidence, obedience, accountability, loyalty, disclosure to both the principal who grants the agent the authority to deal with third parties, and any third parties making inquiries.
Is this true or false ?
Please remember to take your time. The solution … (0 comments)
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theory and practice: Real Estate Practice : Lesson 440 - 12/07/09 01:39 AM
#440
One of the great benefits that a buyer has by signing a buyer's agency agreement is that they have access to confidential information about the seller's absolute lowest price for the property.
Is this fact true or false ? (if you blow this one shame on you) :-)
Take … (0 comments)
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theory and practice: Real Estate Practice : Lesson 439 - 12/07/09 01:38 AM
#439
A buyer's agent does not have the right to be be compensated by the seller.
Is this true or false ?
Take your time. The solution is posted below the wildlife photo.
A. False
A buyer's agent may always accept a share of the commission that the listing … (0 comments)
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theory and practice: Real Estate Practice : Lesson 438 - 12/07/09 01:38 AM
#438
A contract is considered to be a void contract if it can't be enforced because of a statute of limitations.
Is this true or false ?
Take your time. The solution is posted bel;ow the royalty free wildlife photo.
A. False
If a statute of limitations is … (0 comments)
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theory and practice: Real Estate Practice : Lesson 437 - 12/07/09 01:37 AM
#437
If an option to purchase real estate has been recorded but has never been worked out, the option may always be reverted to a form of protection or collateral for a new loan.
Is this true or false ?
Take your time. The solution is posted below the wildlife photo.
… (0 comments)
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theory and practice: Real Estate Practice : Lesson 436 - 12/07/09 01:37 AM
#436
A latent defect never has to be disclosed to a buyer because of the confidential nature of the relationship the broker has with the seller.
Is this fact true or false ?
Take your time. The solution is posted below the wildlife photo.
A. False
A latent defect … (0 comments)
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theory and practice: Real Estate Practice : Lesson 435 - 12/07/09 01:36 AM
#435
When we talk about a latent defect we're speaking of a defect endemic to a particular property and obvious.
Is this true or false ?
Take your time. The solution is posted below the wildlife photo.
A. False
A latent defect is never obvious and is usually a hidden … (0 comments)
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theory and practice: Real Estate Practice : Lesson 434 - 11/30/09 01:18 AM
#434
When we spedak about a dual agency, a rule of thumb is that any time an agent assumes dual agency the dual agent is obligated to disclose all confidential information to both parties.
Is this true or false ?
Take your time. The solution is posted below the wildlife … (0 comments)
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