which statement about buyers is true?

Diff: 2 Unit 6 Flashcards | Quizlet a) Statement of Limits b) Clear Statement of Term c) Clear Notice of Terms d) Order of Terms. Meet with the buyers lender to ensure theyre getting a good deal. a) will be paid in arrears. 3) Borrower Jake has defaulted on his mortgage and the lender has required the loan to paid in full. b) It is necessary to search public records to ascertain the status of title. A home where a homicide, suicide, or haunting occurred 6. b) executable. Buyer purchases the house and later learns that he cannot erect a fence. a) They can cancel the contract and get their earnest money refunded. 10) Buyer Rich has asked Seller Sally to hold $15,000 as a second mortgage. 11) The dimensions in the VALS framework are consumer resources and ________. If a seller dies after signing a listing agreement, the listing agreement is terminated. In North Carolina, which of the following properties may be considered stigmatized? b) It requires certain conveyance-related contracts to be in writing. B) mass 8) What is used to seal a binder agreement? d) require higher down payments than government-backed loans require. d) The real estate must be appraised by an approved FHA appraiser. When you receive an offer on a listing for less than asking price, you should not: Study the other terms of the offer so that you can maximize the offers benefits and minimize the lower price. LO: 6.1: In what ways can a company divide a consumer or business market into segments? 4) When Nike attempts to get close to its customers at the local level by sponsoring local school teams and providing shoes, equipment, and clothing to many of them, Nike is using which of the following marketing formats? a) It represents a "meeting of the minds." c) The maximum purchase price of the property cannot exceed $250,000. c) Arbitrate prior to taking court action. a) Accounts Payable b) Accounts Receivable c) Impound Account d) Forward Account. d. Margin analysis, Relationship efficacy C) situational factors each) ________1. a) Good Faith Estimate b) Truth-in-Lending Statement c) HUD-1 Form d) Mortgage Loan Disclosure Statement. 11) Where on the Uniform Settlement Statement will you find the information that deals with the seller's side of the transaction? a) Estate for years b) Estate at will c) Estate from period to period d) Estate at sufferance. c. Competitive exchanges They do not try to get a loan, and when the deadline for loan approval draws near, they tell their agent they couldn't get a loan. The buyers family is pressuring them to purchase this home. a) Forward Clause b) Advanced Clause c) Acceleration Clause d) Call Due Clause, 4) Typically, the interest rate on an ARM is based in part on. D) vertical market #13. 6) Mark earns $185,000 a year and he pays $2,200 per month for a rent-stabilized apartment. E) actionable, Answer: E Diff: 2 c) To reimburse clients for money that was misused by their attorney. _____ features very close information, social, and operational linkages as well as mutual commitments made in expectation of long-run benefits. a) Right of Redemption b) Right to Rescind c) Right to Deed Access d) Right of Remainder. When preparing to present an offer to the sellers, what kinds of supporting information can be helpful? Diff: 3 Buyers and sellers experience unexploited gains from trade b. Which of the following statements is true of obtaining commitment from a buyer? a. economic c) every seven years. a) Holdout tenant b) Holdover tenant c) Tenant at-large d) Tenant in-arrears. d) enforceable contract. The incidence of a tax is determined by which group (buyers or sellers) must write the check to the government. A) It makes the company almost bulletproof to competitors' actions. C) accessible a. industry bandwidth 1) Broker Norm prints and completes lease agreements to which he is not a party. A crosstabulation of type of customer (regular or promotional) versus net sales. d) It can be created only by an attorney. d) the federal discount interest rate. a. the sensitivity of the salesperson in understanding how business conditions affect the industry within which the buying firm operates. b) Preservation and Maintenance of Property. 13) Al is seeking an FHA loan. Which statement is true about prospecting for buyers? C. If buyers can easily switch firms, then buyers have increased power. b) intended contract. chapter 6 test Flashcards | Quizlet Click here to study/print these flashcards, Additional Real Estate & Planning Flashcards. c) Amanda must deposit the money in the Lawyers' Fund. a) Designed to promote ethics training among lawyers b) Allows lawyers to deposit earnest monies into a State wide account c) Provides a fund for loans to lawyers for professional development d) Designed for law clients who are unable to get reimbursement from their lawyer who has caused them loss, 5) In New York, the practice of law by a non-attorney is. c) is not a binding contract upon agreement. A counteroffer represents a rejection of an offer. Browse over 1 million classes created by top students, professors, publishers, and experts. C) differentiable a) Allowance Clause b) Passage Clause c) Demise Clause d) Demising Clause. 68) Volkswagen concentrates on the small-car market and Porsche on the sports car market. LO: 6.3: What are the different levels of market segmentation? 1) What type of document does a home owner sign when agreeing to a mortgage? b) It is necessary to search public records to ascertain the status of title. a) The borrower must occupy the property. b) All the parties must initial the changes. Diff: 2 c) A sublease does not convey any of the leasehold interest. b. an equal advantage. a) Fee for clearing the title b) Mortgage recording fee c) Homeowner's insurance d) Title search. However, the client and the firm can agree to extend the listing period by mutual agreement and a properly executed addendum. a) Sale price of the property b) The amount of the mortgage c) The sale price minus the earnest money deposit d) The seller's profit on the sale. b) A certificate issued by a HUD that indicates that the building is in proper condition to be occupied. A. Be sure all requested inspections have been ordered. d) accrued expenses. B) It automatically binds the owner, the broker, and the MLS to its agreed provisions. D) personal characteristics The home is listed at $210,000. Diff: 2 d) Amanda has done nothing wrong. c) A chronology of successive owners of record of a parcel of real estate. B The buyer normally has the right to inspect the goods before the buyer accepts or pays for them. A) naked solution 1) Prospecting for buyers is easier than prospecting for sellers. a) It is common business practice. c) homeowner's insurance. b) a class 3 felony. a. LO: 6.1: In what ways can a company divide a consumer or business market into segments? Prior to being shown any house, the buyer tells Ricardo it is essential he have a fence erected around the backyard of any house he purchases. Given the following selected account balances of Delray Mfg., prepare an income statement for Delray Mfg. d. intend to move each partner toward the attainment of some long-term strategic goal. a) Capacity to Contract b) Capacity of Age c) Legal Capacity d) Capacity to Render. c. marketing plan These criteria illustrate which of the following major segmentation variables? The U.S. government would not publish NAICS data that gives: C) the total sales volume of the only textile equipment manufacturer in a state. d) using a schedule of changes. With respect to consumer decision roles, which role is Dennis currently playing? a) Wraparound Loan b) Bridge Loan c) Swing Loan d) Ancillary Loan. E) horizontal market, Answer: B a) estates at will. 8) Money that the buyer or seller needs to pay at closing is called what? Loyal customers are far more profitable than price sensitive customers. d) estates from period to period. This takes a positive view of the price. neg/selling ch 11 Flashcards | Quizlet 2) Fred reclaimed a foreclosed property by paying off owed amounts, including interest and costs? E) operating variables, Answer: A Earnest money must be deposited no later than 3 banking days. c) for a lender in a market that is decreasing in value. a) Revolving Lease b) Wholesale Lease c) Index Lease d) Leading Indicator Lease. LO: 6.1: In what ways can a company divide a consumer or business market into segments? d. Buying centers. C) accessible a) He has provided an advance order of moving. b. personal property. ), a) The seller's share of $2,533.38 b) The buyer's share of $666.62 c) The seller's share of $2,525.76 d) The buyer's share of $674.24. Extra Flashcards | Quizlet C) guerrilla B) segment attractiveness 6) In which contract section might you the property address? b) after 5 years of loan payments. 1) What is an important legal feature of a contract? c. work with a wide array of managers on strategy and coordination issues. c) The broker finds out from the lender and tells the buyer how much to bring. E) consumer motivation, Answer: E Ricardo does not tell the listing agent anything about a fence. a) 2 percent of the loan amount. 9) Sellers Glen and Jill are closing on their home sale next week. c) A borrower can request the cancellation of PMI payments when the equity reaches 20% of the purchase price. A. Part I: True or False Item Write "True" if the statement is correct and "False" if it is incorrect in the space provided (1 pt. Which of the following statement(s) is/are true regarding death of a seller? 6) Broker Amanda prepares a sales contract, collects the earnest money and deposits it in her business account. a) The tenant fails to pay rent. D) switchers a) Prior deed b) Copy of property tax bill c) Prior title insurance policy d) Seller's credit report. 3) How might a voidable contract become valid? #1. c) A borrower can get a VA loan with a lower down payment by insuring the loan through private mortgage insurance. a) deliver the title. c) Brokers may not complete leases to which they are not a party. 2) Which mortgage clause requires the borrower to maintain the physical condition of the property? 1) In the event of default by the purchaser, the lender has the right to bring legal action through the courts to satisfy the debt. Which of these is not a good thing to do when writing a counteroffer? Each of their payments is for the same amount B. #7. A counteroffer can give the buyers an out if they want one. All agents in the transaction should facilitate the timely delivery of the property disclosure report to the buyer. Annual amortization is capital recovery value which is equal to net investment divided . Diff: 2 A) niche a) Proceeds from tax exempt mortgage revenue bonds. Whether working with a client or a customer a licensee has a duty to disclose all material facts. D) purchasing approaches a) requires recording of a leasehold conveyance. The history of the listing activities, information about the buyers and then the offer itself. Diff: 2 9) Which of the following statements about Gen Xers is TRUE? &&\underline{\underline{\$ 93,400}}&\underline{\underline{\$ 93,400}} An offer or counteroffer can be withdrawn at any time before it has been accepted. a) The meeting of the minds b) The actual contract form c) The written contract words d) The public notice of the offer, 2) Neighbor Sam told seller Jake that he would buy 2 adjoining acres if Jake ever decides to sell. C. Once you set a goal you should never change it. a) when the loan-to-value ratio reaches 50 percent. The agent is A) required to disclose the information because it is a material fact important to the seller. d. the cost of serving established customers usually increases. d) allowance contract. According to the North Carolina Real Estate Commission, who is held responsible for this nondisclosure? a) Marketable title b) Abstract of title c) Evidence of title d) Title commitment. C) Step 6-segment "acid test" AACSB: Analytical thinking, 17) In segmenting its markets, an aluminum company first looked at which end-use market to serve: automobile, residential, or beverage containers. The expiration of the individual agent's license does not terminate the listing because the licensee is not a party to the agreement. B) It can help create jobs in the economy by increasing demand for goods and services. b. Collaborative relationships are less likely to involve operational linkages between the buying and selling firms. 13) What type of account holds property insurance, taxes, and Mutual Mortgage Insurance in escrow? Which of the following statements about collaborative relationships is(are) true? 1) Which of the following statements about market segmentation is TRUE? A) It is of little importance when products are standardized. C) geographic segmentation If the loan is for $68,000, what will Mark be assessed in points? a. a) Retail Level Lease b) Percentage Lease c) Reorder Lease d) Market Level Lease. E) marketing-mix strategy, Answer: D a) It's an accepted offer; therefore a valid contract. D) differentiable 9) Which of the following is a good example of a unilateral contract? Business marketers track customer loyalty and retention because: c) It's still an offer. e. None of the above. C) product specialization b) It must use precise wording in a document. The real estate broker's fiduciary responsibility to keep the principal informed of all facts, including property condition and issues that affect a seller's willingness to sell and a buyer's willingness to buy, is the duty of: A. skill, care and diligence B. disclosure C. obedience D. accounting disclosure b) The buyer brings a blank check and finds out the final amount at the closing meeting. B) conducting VALS tests d) Interest is based on a selected economic indicator index. b) The optionor must perform if the optionee takes the option, but the optionee is under no obligation to do so. Chapter 2: Ethics, Fair Housing And Trust Accounts, Chapter 3: Agency And Other Mandatory Disclosures, Chapter 10: Writing The Offer And Closing The Sale, Chapter 18: Business Sale, Property Management & Leasing. E) full market coverage, Answer: A The open exchange of information is a characteristic of ____ relationships. They can accept it outright, reject it totally, or submit a counteroffer. 8) What is an important legal characteristic of an option to buy agreement? c. The current share of the wallet the firm has attained. B) It diversifies the firm's risk. E) benefits, Answer: D 2) According to contract law, every valid contract is also what? a) Percentage b) Net c) Provisional d) Graduated. c) Brokers may not complete leases to which they are not a party. When selling to _____, marketers must expect to use advertising, rely heavily on e-commerce for purchases and customer service, and make pitches to whomever is in charge (or their administrative assistant). Hurricane Inc. purchased a portfolio of available-for-sale securities in 2014, its first year of b) void. a) the lender must have a reserve balance on hand to cover the loan amount. 4 north carolina licensee tyler is providing - Course Hero E) demographic variables, Answer: C Which of the following statements is TRUE? If firms cannot switch suppliers easily, thenbuyers have decreased power. 9) Which of the following is a characteristic of land leases? LO: 6.1: In what ways can a company divide a consumer or business market into segments? e. both (c) and (d), Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Finite Mathematics for Business, Economics, Life Sciences and Social Sciences, Karl E. Byleen, Michael R. Ziegler, Raymond A. Barnett, Morality and Justice Exam Review Guide Cards.

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