A listing agent receives two written offers for the same property within a few hours of
each other. Both offers
propose a purchase price below the listed asking price, but they vary in financing and
other terms. The listing
agent may
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, present both offers to the seller and coach the seller on possible
responses.
A written listing agreement will be automatically terminated if the...
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Sole practitioner broker that signed the agency agreement dies.
Which of the following statements in a broker's advertisement for real property would
be compliant with
Regulation Z requirements?
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"Seller will pay $1000 toward a buyer's closing costs"
Buyer and Seller have entered into a residential sales contract using the standard 2-T
Offer to Purchase and
Contract form jointly approved by the North Carolina Association of REALTORS® and
the North Carolina Bar
Association. Buyer wishes to terminate the contract during the Due Diligence Period.
Seller has not breached
the contract and the property has not been damaged. Per the contract, which of the
following monies, if any,
should be refunded to Buyer?
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, The Earnest Money only
The seller of a property insists on receiving $55,000 profit from the sale of his home.
The existing mortgage
balance of $120,000 must be paid off at closing. The brokerage fee is 6% and there
will be $2,475 in
miscellaneous closing costs for the seller. For what price must the house sell,
rounded to the nearest dollar, in
order to meet the seller's goal?
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$194,500
According to the North Carolina Real Estate Commission's Residential Square
Footage Guidelines, which of the
following statements regarding "living area" is TRUE?
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The ceiling height must be at least 7 feet, unless dealing with sloped
ceilings.
A buyer's agent hand-delivers a signed offer to the listing agent with a different real
estate firm. When the
listing agent presents the offer to the seller in person, the seller strikes through the
proposed purchase price
and enters a higher number, initials the change, signs the offer, and hands the offer
back to the listing agent.
The listing agent delivers the signed offer to the buyer agent's firm. The buyer's agent
, scans and emails the
document to the buyer, pointing out the price change. The buyer initials the change
and emails the document
back to the buyer's agent. The buyer's agent calls to inform the listing agent that the
buyer has initialed the
price change. The listing agent notifies the seller later that day of the buyer's
acceptance. A binding contract
was created when
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the buyer's agent told the listing agent that the buyer had initialed the
change
A buyer who is Muslim instructs the broker to show the buyer properties that are
located in neighborhoods that have a higher number of Muslim residents. If the
broker complies with this client's instructions the broker will be in...
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Compliance with the Civil Rights Act of 1866, but in violation of the Federal
Fair Housing Act.
Which of the following properties would be the best comparable for an appraiser to
use for an appraisal of a two-story subject property with 3 bedrooms and 2 baths in a
subdivision near the downtown area of a city?
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3 bedrooms, 2 baths two-story house in a nearby similar subdivision.
each other. Both offers
propose a purchase price below the listed asking price, but they vary in financing and
other terms. The listing
agent may
Give this one a try later!
, present both offers to the seller and coach the seller on possible
responses.
A written listing agreement will be automatically terminated if the...
Give this one a try later!
Sole practitioner broker that signed the agency agreement dies.
Which of the following statements in a broker's advertisement for real property would
be compliant with
Regulation Z requirements?
Give this one a try later!
"Seller will pay $1000 toward a buyer's closing costs"
Buyer and Seller have entered into a residential sales contract using the standard 2-T
Offer to Purchase and
Contract form jointly approved by the North Carolina Association of REALTORS® and
the North Carolina Bar
Association. Buyer wishes to terminate the contract during the Due Diligence Period.
Seller has not breached
the contract and the property has not been damaged. Per the contract, which of the
following monies, if any,
should be refunded to Buyer?
Give this one a try later!
, The Earnest Money only
The seller of a property insists on receiving $55,000 profit from the sale of his home.
The existing mortgage
balance of $120,000 must be paid off at closing. The brokerage fee is 6% and there
will be $2,475 in
miscellaneous closing costs for the seller. For what price must the house sell,
rounded to the nearest dollar, in
order to meet the seller's goal?
Give this one a try later!
$194,500
According to the North Carolina Real Estate Commission's Residential Square
Footage Guidelines, which of the
following statements regarding "living area" is TRUE?
Give this one a try later!
The ceiling height must be at least 7 feet, unless dealing with sloped
ceilings.
A buyer's agent hand-delivers a signed offer to the listing agent with a different real
estate firm. When the
listing agent presents the offer to the seller in person, the seller strikes through the
proposed purchase price
and enters a higher number, initials the change, signs the offer, and hands the offer
back to the listing agent.
The listing agent delivers the signed offer to the buyer agent's firm. The buyer's agent
, scans and emails the
document to the buyer, pointing out the price change. The buyer initials the change
and emails the document
back to the buyer's agent. The buyer's agent calls to inform the listing agent that the
buyer has initialed the
price change. The listing agent notifies the seller later that day of the buyer's
acceptance. A binding contract
was created when
Give this one a try later!
the buyer's agent told the listing agent that the buyer had initialed the
change
A buyer who is Muslim instructs the broker to show the buyer properties that are
located in neighborhoods that have a higher number of Muslim residents. If the
broker complies with this client's instructions the broker will be in...
Give this one a try later!
Compliance with the Civil Rights Act of 1866, but in violation of the Federal
Fair Housing Act.
Which of the following properties would be the best comparable for an appraiser to
use for an appraisal of a two-story subject property with 3 bedrooms and 2 baths in a
subdivision near the downtown area of a city?
Give this one a try later!
3 bedrooms, 2 baths two-story house in a nearby similar subdivision.
