Analysts estimate that it takes between four and seven contacts to connect with a client and make a sale. After all, a sale is not an event, but a process.
How much are Doc stamps on the Deed? How much are Doc stamps on the Note? It is NOT paid on ''subject'' to mortgages. How much is intangible tax on a real estate purchase mortgage? How much will he have to pay in Doc stamps? When a broker receives commission for the sale of a property even though she did not sell it, she most likely has which type of agreement with the property owner?
Transaction Broker Exclusive Right of Sale Exclusive Agency When a broker has an exclusive right of sale agreement with the property owner, the broker receives commission regardless of who sells the property. Property management is becoming common because of Market fluctuation Absentee owners Financing Owners of property who do not reside at the property and instead rely on professionals to manage the property including renting it to a tenant, are known as Absentee owners.
What must developers submit to the local planning board? Permit Letter of Intent Inspection results Developers must submit a subdivision plat map to the local planning board. A subdivision plat map details the subdivision of land into lots or tract.
Which is NOT a type of residential construction? Custom homes are when a developer builds a home as per a buyer's specifications. Tract homes are when a developer builds a model home for other buyers to mimic.
Joe wants to develop a house in an already developed subdivision, he has to match a certain architectural design. Lien Dedication Restrictive covenant A Restrictive covenant is recorded by a developer in the public records on a whole subdivision which affects how the land can be used such as design and square footage.
Buyer Rick wants to sell alcoholic beverages from a new property he bought. Restrictive Covenant Plat Map Assignment A deed restriction is placed on a property by an owner which limits a future owners land use.
They are NOT exempt from the 14 hour continuing education every 2 years. If a brokers licensed is suspended, the employed sales associates licenses become Null and Void Suspended Voluntary Inactive The sales associates licenses will be placed on involuntary inactive until they register with a new broker.
Which individual is exempt from a real estate license? Susan showing rental homes Rick auctioning of real property Sam receiving salary and commission from his broker You do not need to have a real estate license to sell cemetery lots. Fiduciary duties are generally associated with what type of representation Transaction Broker Dual Agent No Broker Relationship A single agent has fiduciary duties which are complete compliance with the principal buyer or seller and accepts employment of ONLY seller or ONLY the buyer.
A transaction broker Provides limited representation to a buyer and seller Has fiduciary duties Has a principal relationship Is a single agent A transaction broker provides limited representation and does not have fiduciary duties to a seller or buyer.
When must a No Brokerage Relationship disclosure be made? Entering a contract After the showing of property At the time of sale Before the showing of property In a No Broker relationship a disclosure must be made before showing of property.
Broker Bianca wants to change from a Single Agent relationship to a Transaction broker She must get written permission from her principal.A type of blended mortgage loan which avoids private mortgage insurance (PMI).
It consists of an 80% - 30 year first lien at market rates, a 10% - 15 year second lien at a .
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Estate Agent Cover Letter Sample. Cover Letters Misc. Estate Agent Cover Letter; Estate Manager Cover Letter; Your firm’s new entry into the local commercial real estate market makes me the ideal candidate for this position.
I have created and. Free Florida Real Estate Practice Exam and Test Online, multiple choice questions, true or false, correct answers and explanations are given. Letter Term Definition; letter-# § cooperation provision: A statement in purchase agreements putting the seller and buyer on notice they are able to avoid profit reporting on the transaction and provides cooperation when a § exemption is intended on the sale or purchase of a property.
Real estate terminology can be very confusing. When listening to your agent, lawyer or mortgage broker use real estate terminology while describing the real estate contract and the various clauses used during the process of buying and selling houses, does it sometimes seem like they're speaking a foreign language?
To a novice, common real estate terms can certainly seem that way. Commercial Real Estate Leasing Definitions We hope you find this glossary of terms helpful.