chap 11 Flashcards
From the real estate agent’s perspective, selling real estate involves which of the following…?
ASelling the owner on the listing
BSelling the buyer on the offer
CSelling the seller on the acceptance
DAll of the above
All of the above
Real estate agents must always put their client’s interests before their own…?
AT (True)
BF (False)
True
To mingle or mix, for example, a client’s funds in the broker’s personal or general account, is known as…?
AConversion
BTransferring
CCommingling
DCash-out
Commingling
A counter-offer voids the original offer…?
AT (True)
BF (False)
True
The unlawful appropriation of another’s property or funds is known as…?
ATransferring
BEscrow
CConversion
DCash-out
Conversion
Multiple counter-offers are illegal in California…?
AT (True)
BF (False)
False
Who typically presents an offer to the seller…?
AThe buyer’s agent
BThe listing agent
CThe seller’s attorney
DThe buyer’s attorney
The listing agent
Unless stated otherwise, the buyer’s agent has the right to present an offer in-person…?
AT (True)
BF (False)
True
n making a counter-offer, the seller may counter which of the following terms…?
AThe offer price
BThe proposed occupancy date
CThe amount of earnest money required
DAll of the above
All of the above
If there are not too many active listings in the marketplace, the listing agent may be able to increase the listing price…?
AT (True)
BF (False)
True
Escrow is opened after a prospective buyer’s offer is accepted by the seller…?
AT (True)
BF (False)
True
Which of the following is the most common objection to a buyer’s offer…?
AThe closing date
BThe price
CThe down payment
DThe escrow provisions
The price
A broker’s commission is typically based on a percentage of the…?
AListing price
BAppraised value
CSales price
DInvestment value
Sales price
The buyer’s agent should do which of the following for their client…?
AAlways make offers close to the seller’s asking price
BAlways negotiate for seller financing
CFully explain their client’s offer
DAll of the above
Fully explain their client’s offer
A seller must provide the buyer with all necessary disclosures during the…?
ATitle period
BSurvey period
CClosing period
DInspection period
Inspection period
Who typically pays for the home inspection…?
AThe seller
BThe buyer
CThe buyer and seller equally
DThe seller’s agent
The buyer
listing agents have a duty to protect their client from fraudulent practices…?
AT (True)
BF (False)
true
A home warranty will protect which of the following for the first year of occupancy…?
AAppliances
BHVAC
CPlumbing fixtures
DAll of the above
all of the above
Which of the following serves as insurance for the homebuyer…?
AEscrow
BHome inspection
CHome warranty
DAll of the above
Home warranty
In addition to a home inspection, what other inspection can a buyer obtain…?
ATermite inspection
BSeptic inspection
CWell inspection
DAll of the above
All of the above
Home inspections are required when qualifying for an FHA loan…?
AT (True)
BF (False)
True
Termite inspections are required on all homes built prior to 1978…?
AT (True)
BF (False)
False
A buyer’s agent should run comps on a property prior to their client making an offer…?
AT (True)
BF (False)
True
Buyers should make an offer immediately after viewing a property…?
AT (True)
BF (False)
False
