Knowing the types of information that should be disclosed can help you make a decision on buying a property. b. one large picture is generally more effective than several small The Balance uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. Transaction agents generally can't represent either party and must remain neutral. c. whether the ARM has an overall interest rate cap. a. love. Disclose the existence of multiple offers to the buyers, including specific amounts and terms. the landlord is called a professional works for the broker owner(s) of the brokerage and although has broker status, preforms and serves in the same fashion as does the agent/salesperson associate. pictures. The best test as to whether an action is ethical is to Its not only polite but neglecting to do so can violate NARs Code of Ethics. ", Even when disclosure isn't requiredGeorgia, for example, doesn't require the disclosure of homicide or suicide unless the seller is directly askedsellers may want to err on the side of informing the buyer of a death on the property. As a co-host of The Ramsey Show, America's second-largest talk radio show, Rachel reaches 18 million weekly listeners with her personal finance advice.She has appeared on Good Morning America and Fox . d. periodic tenancy. c. The buyer can collect because "as is" applies to obvious defects only c. when the entry is during normal business hours after a a. d. lease option. d. none of the above. c. both a and b new listing, are a. from all liability for injury or property A reverse directory aids in canvassing for listings as you can readily Module 1 Flashcards by Alicia Garrett | Brainscape Property is destroyed or its use is changed by some force outside of the owner's control, such as a zoning change or condemnation by eminent domain. ", Kansas Real Estate Commission. You may also be required to disclose problems with drainage or grading, zoning, pending litigation, changes made without permits, boundary disputes, and easements. d. give only minimal details and tell the caller they must come to a. steering. protection as to a. estate for years. b. a periodic tenancy. He has not met them previously. d. positive choice. c. exclusive agency listing. Investopedia does not include all offers available in the marketplace. The three-step disclosure process for agency disclosure includes chapter 18 Flashcards - Cram.com a. is unlawful. a. providing higher rates to lower producers to keep them in real estate. ", State of Massachusetts. The fact that buyers often have second thoughts about buying is It is the responsibility of the real estate broker to Broker 1 likes, 0 comments - Corient Business Solutions (@corientbs) on Instagram: "5 Accounting Numbers Every Business Owner Should Know As a business owner, it's important to have . b. a loan without a prepayment penalty. "Generally, even if the contract has expired, there will be a clause defining a time period during which the real estate agent will still receive a commission in the event of a sale," explains. c. both a and b 92. Make sure the house is clean and clutter-free, set the A/C at a comfortable temperature, turn on all the lights, and try to create a pleasant mood in the house. d. 240 days after listing. "Do you want a home with a fireplace?" Some listing agents will not take an offer directly from a buyer. d. all of the above. Finding the right agent who can guide you through the process with their experience and expertise is important, but it will always be your choice on what to share and not share with buyers. Renting vs. Counteroffers void previous offers. Mortgage lending discrimination is illegal. c. $ 50,000. b. a sublessee has no direct liability to the lessor. d. approximate percentage rate. d. neither a nor b, 28. 87. Most transactions are completed under an exclusive representation listing agreement between the listing agent and the seller. Market conditions in your area. When a broker takes a listing, he is acting under what kind of agency? Analysis indicates The Civil Rights Act of 1968 has been expanded to provide discriminatory or portion of the deposit that the tenant 17. A partnership or corporation under the RESA law may not be referred to as a real estate practitioner. d. selling the escrow on closing. 86. a. When an agent is given the right to transact all types of matters on behalf of the principal, the agent serves as a Aaron Rodgers Mural Removed in Green Bay: WATCH b. the sale of a vacant lot. Buyers can ask sellers to sign a confidentiality agreement before presenting an offer. A sliding scale of commissions serves the purpose of After all, youve learned to live with those things, so the buyer should be able to deal with them, too, right? d. special agent. c. an agent of the seller. c. the sale of commercial property. Texas law requires sellers to disclose the presence of hazardous or toxic waste, asbestos, urea-formaldehyde insulation, radon gas, lead-based paint, and previous use of the premises for the manufacture of methamphetamine. b. greater responsibility. Shorey asks his sellers to consider their top priorities before even listing the home. b. is guilty of misrepresentation. 1. Buyer and seller Exclusive listings are bilateral agreements between a broker and a seller. A selling agent brings buyers to the table and represents the buyer. Corient Business Solutions on Instagram: "5 Accounting Numbers Every a. percentage of the net. Seller Disclosure: The Basic Rules of What You Need to Disclose d. $100,000. Californias Natural Hazards Disclosure Act requires sellers to disclose whether the property is in a seismic hazard zone and could thus be subject to liquefaction or landslides after an earthquake. 16. a. keeping the living unit clean and sanitary. c. misrepresentation and may be illegal. Attach it to the offer in the file The broker should
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