![]() ![]() A realty firm has just entered into an agreement to represent a home builder in the sale of a new subdivision. be signed by the grantee if there are covenants. A deed restriction is applicable to the activities ofĤ. Inform the seller of the legal obligation to disclose facts regarding flood plains. Refuse to list the property and explain to the seller that all properties in this area flood. Inform the seller of the legal obligation to disclose facts regarding flood plains.Ĥ. Inform the seller of potential legal consequences if this claim is untrue.ģ. Rely on the face value of seller's statement.Ģ. What is the licensee required to do in this situation?ġ. The seller flatly denies that the structure and the property have ever been flooded. A licensee is listing a property in a known flood plain. suggest the buyer ask a lawyer to furnish the wording. consult the supervising broker for advice.Ĥ. ![]() suggest the buyer ask a lawyer to furnish the wording.ģ. include the provision for the mortgage as the buyer requests.Ģ. The buyer's agent who is drawing up the contract shouldġ. ![]() The buyer wants to make the purchase offer contingent on a complex mortgage arrangement. An appraiser MUST be licensed or certified to handle Federally related work on residential property valued at more thanĤ. most homes are larger than the sale home. most homes are larger than the sale home.Ĥ. most homes are smaller than the sale home.ģ. According to the principle of progression, a three-bedroom, one-story home is MOST likely to bring the highest sales price if located in a neighborhood in whichĢ. he will leave the key under the door mat.Ĥ. he will set up an appointment for showing the home.ģ. The broker should inform the caller thatĢ. Several days later, a third licensee called the first broker and asked for the key to show the home. The day after a broker's listing on a house expired, it was listed with another broker and offered in the MLS. Under the common law of agency, licensees owe the broker with whom they are associated all of the following duties EXCEPTĤ. The contract on the first house is not enforceable.Ĥ. In the interim, the same buyers had found another house that they liked better and made an offer on it, which was accepted. The prospective buyers signed the counteroffer and the real estate agent delivered their acceptance to the seller. The seller did NOT accept, but made a counteroffer. Prospective buyers made an offer on a property. a competitive market analysis to determine the property's value. setting the price at the value of the most recent sale in the neighborhood. a competitive market analysis to determine the property's value.Ĥ. listing the property at least 30% above the current mortgage.ģ. listing the property at the price the owner believes it is worth.Ģ. A prospective seller asks a salesperson to recommend a listing price for a property. were located near the property being listed. When compiling a competitive market analysis, a broker would look for comparable properties thatĤ. the owner is disclosing known latent defects. the owner creates a warranty that there are no defects in the property. the property is fully suitable for the uses contemplated by the buyer.Ĥ. nothing, because the seller will not be responsible for any defects.ģ. the owner is disclosing known latent defects.Ģ. the salesperson the supervising broker A seller's statement in a property disclosure document meansġ. Who has the ultimate responsibility for the salesperson's actions?Ĥ. A salesperson in a branch office is sued for damages by a buyer after the salesperson misrepresents a property. ![]()
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