Extras Flashcards
What is true in buyer broker relationships
Broker is transaction broker, single agent or non representative
Which action of federal reserve would have impact of reducing Interest rates
Reserve decreases the reserve requirement
A local real estate board or MLS that sets commission rates or splits between cooperating brokers…
Is guilty of anti trust
What is true of kickback or rebate ?
Prior to payment parties must be informed
Lead based paint disclosure doesn’t apply to which kind of purchase?
Rental or sale of commercial estate before 1978
Qualifying a buyer means ?
Determining housing needs
Determining financial abilities
Who retains title to property in a Lien theory state ?
Borrower retains title
Adjustable rate mortgage disclosure must be made when
Before lona is closed
Purpose of Freddie Mac
Provide liquidity to the mortgage market
A process where depositors withdraw money from savings and other areas is called ?
Disintermediation
Who may write advertisements?
Any sales associate but must be in broker firm name
Field of property management has experienced growth due to?
Increase in absentee owners
Which chapter of law covers the home owners association disclosure ?
Chapter 720
Broker incarcerated for non real estate related activities, what happens to license
Revocated
What chapter is FREC rules on statutes ?
Chapter 61J2
DBPR longest length of license suspension
10 years
How long does broker have to receive verification of receipt of deposit from title company ?
10 days
FREC has jurisdiction over what escrow accounts?
Brokers only
Riparian and littoral refer to?
Water rights to a lake or river
Economic characteristic of real estate that cause land to be affected by actions surrounding the area
Situs
Two friends buy property and want one to take over if the other dies, what kind of ownership is this?
Joint tenancy with the right of survivorship
What is true of sellers responsibility to convey marketable title ?
Seller required to deliver an update abstract of title
Mutual assent of parties to a contract. Also the primary element of a valid contract is known as?
Meeting of the minds
