David Saks' Blog

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Industry Observer - TN LIC# 290452
David Saks is a musician, retired real estate broker, and long-time ActiveRain member. David's blog features important information relevant to the safety, integrity and security of the industry. In addition to his widely read real estate fraud blog, a comprehensive overview of real estate continuing education is a weekly addition for his subscribers and the ActiveRain community at-large. Thank you for subscribing to and for visiting David's ActiveRain home on the internet. Please join. Membership in ActiveRain will enrich your life !

ARCHIVED BLOG POSTS

2014 

  #2802 If there is a debit on the buyer side of a settlement statement this is a charge that has to be paid by the buyer at the closing table. Is this fact true or false ? Take your time. The solution is posted below the wildlife photo. A. True If there is a debit on the buyer's side of the sett...
06/29/2014
#2801  A real estate transaction is scheduled to close in the month of May on the 12th. The seller paid the annual premium for his hazard insurance about six months ago. The buyer decided not to take over the policy. When the settlement statement is presented part of the hazard insurance premium...
06/29/2014
#2800 Giving the permission and the right to someone to cross your property so they may come and go unhampered is known as granting equitable interest in the easement. Is this true or false ? Please take your time. The solution is posted below the wildlife photo. A. False Giving someone permissio...
06/29/2014
#2799 When money is held prior to the acceptance of an offer to purchase real estate that money belongs to the seller and the buyer. Is this true or false ? Take your time the solution is posted below the wildlife photo. A. False If the offer hasn't been accepted the money belongs to the buyer only.
06/29/2014
#2798 A home was constructed in 1955 in Texas that didn't include central heat or central air conditioning. When an appraiser is considering cost depreciation he would classify the abscence of central heat and air conditioning as an incurable feature of the older home. Is this fact true or false ...
06/29/2014
#2797 A broker in BIrmingham, Alabama decided to leave town with a clients money and spend a couple of days in British Columbia golfing and disco dancing. He's guilty of misrepresentation. True or false ? Take your time. The soultion is posted below the wildlife photo. A. False The scoundrel (ahe...
06/29/2014
#2796 A broker is Washington State was sent to prison for felony elderly financial abuse and vehicular homicide. His real estate license would be suspended until his prison term ends. True of false ? Take your time. The soultion is posted below the wildlife photo. A. False The license of a felon ...
06/29/2014
  #2795 Sales commission to the listing agent is usually considered part of the buyer's closing costs. Is this fact true or false ? Take your time. The solution is posted below the wildlife photo. A. False Sales commission is usually the seller's responsibility. In a buyer's agency agreement, how...
06/29/2014
#2794  A loan origination fee is always part of the seller's closing costs. Is this fact true or false ? Take your time. The solution is posted below the wildlife photo. A. False The loan origination fee is part of the buyer's setllement. That's always the case unless there's some variation I'm u...
06/29/2014
 #2793 Whenever a buyer assumes a mortgage the mortgage balance will appear as a credit to the seller and a debit to the buyer on the settlement statement. Is this true or false ? Take your time. The solution is posted below the wildlife photo. A. False Once again, the opposite is true in this ca...
06/29/2014
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David Saks

Broker / Industry Analyst
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