What is the annual rent for the year if the annual gross sales are $450,000? Learn more about your rights as a consumer and how to spot and avoid scams. Which law prohibits racial discrimination in the sale or lease of all real property without exception? Which statement is TRUE regarding this situation? allows a sales associate or broker associate employed by an owner-developer to sell property for all the affiliated entities owned by the developer. A) Monthly payments remain constant, and the interest portion comprises the majority of the payments. You are appraising a four-year-old, single-family residence. Three brothers join together to purchase property. Lease Agreements longer than 1 year The tenant has what type of lease? Find the resources you need to understand how consumer protection law impacts your business. A complaint legally sufficient if it contains facts indicating that a violation of any of the following has occurred. B) The loan applicant can sue the credit union for violating the Fair Housing laws. . It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. Which request should be made by the broker's attorney so that the broker can continue to work during the appeal process? 633.33 debited to seller and credited to buyer. A complaint legally sufficient if it contains facts indicating that a violation of any of the following has occurred. A Poisson distribution might be a good approximation for which of the following? The brokerage relationship disclosure requirements in Chapter 475, Florida Statutes, do NOT apply to which transaction? Use the actual number of days in the closing month when determining the time line. Which type of depreciation is associated with inefficient architectural design? A) A section is a square one mile on each side B) A section contains 640 acres C) A section contains 43,560 square feet D) A section has an area of one square mile, The FALSE statement is the a SECTION contains 43,560 sf. Funeral homes may not require customers to buy certain funeral goods and services as a condition for receiving other funeral goods and services. Stay of Enforcement, if granted, stops the enforcement of a suspension or revocation in the final order pending the outcome of the appeal process. Which statement applies to this situation? Which statement is TRUE regarding this situation? (page 364), Liquidation analysis, reproduction cost analysis, and income capitalization analysis (and comparable sales analysis), Management considerations is one of the disadvantages of investing in RE. A Georgia real estate licensee moved to Miami five months ago. Compared with the subject property, the comparable is built of superior materials ($20,000) and the comparable has more square footage ($25,000). Need for expert help; 4. b. A licensee who is issued a citation may be ordered to, If a licensee/respondent disputes any of the allegations outlined in the administrative complaint, the case must be heard in, When a consumer files a complaint against a real estate licensee that contains facts indicating that a violation of rules of the Florida Real Estate Commission has occurred, the complaint is said to be. Includes: What is the adjusted sale price of the comparable? Local government can recover the cost of widening a street in an existing neighborhood by charging the neighborhood property owners a. tenants and buyers of all residential property built before 1978. General warranty deed includes quiet enjoyment (peaceful possession undisturbed by claims of title), warranty forever (forever warrant and defend grantee's title), and further assurance (will help make title good in the future too). The radon test indicates a high level of radon gas in the home, and the buyer gives written notice to cancel the contract. Open listing allows the seller to list the property with multiple brokers. c. There are no federal laws that regulate This problem has been solved! Which statement applies to this situation? Which requirement is one of the elements of a valid real estate contract? Prohibits telemarketers from calling Arizona residents between the hours of 9 p.m. and. Within how many days must a landlord notify a tenant of intentions to claim part of the security deposit? B) Real estate licensees may advertise their residential listings by faxing promotional flyers to a list of local businesses and hospitals that are on the do-not-call list. The calculated interest rate of an adjustable-rate mortgage is determined by adding which two components? Is the broker required to retain the brokerage relationship disclosure documents, and if so, for how long? Governance Form summarizes board of directors and the rights of the unit. Statutes change, so checking them is always a good idea. In one of the more upsetting high-profile lawsuits, Vanessa Bryant has just reached a final . Homestead property is exempted from forced sale to satisfy judgement liens for debts owing to personal loans, CREDIT CARD DEBT, etc. Three brothers join together to purchase property. In practice, the state list is integrated with the national do-not-call list maintained by the Federal Trade Commission (FTC). A commercial tenant pays a fixed rent each month. The developer sold the lots for $250 per front foot. A person applies for a mortgage loan from a local credit union. Hazard Insurance is included as part of a fixed expense (also ppty taxes), Functional Obsolescence - operational inadequacies, poor design, or changing tastes and preferences (page 342), T-Intersection (open view down the street, lights shining into window and possible danger from speeding runaway cars - page 358), Wattage is the measurement of the amount of energy consumed. Mass, direct, telemarketing, e-marketing, social media, billboards Personal selling: sales representatives directed to a customer in attempt to make a sale Can be modified, individualised, after-sales customer service Relationship marketing: development of long-term and cost-effective relationships with customers A developer advertises homes for sale with a total down payment of $2,000. A lead-based paint disclosure must be given to. 1. The seller told her broker that she was revoking the counteroffer and accepting the buyer's original offer. A buyer has applied for a 20-year mortgage of $52,000 at 7 3/8 percent interest. NOI = Cap Rate x Value (sale price) Developers of 20 or more new residential units must also prepare a PROSPECTUS and file it which summarizes the major points detailed in the condo docs. B) exclusion of gain from the sale of a principal residence up to $500,000 if married and filing a joint return. The statement is TRUE. The radon test indicates a high level of radon gas in the home, and the buyer gives written notice to cancel the contract. A licensee may not earn credit for attending a FREC meeting if the licensee is on the legal agenda for disciplinary action. (page 362), Jalousie - window is almost impossible to seal; therefore, it's the lease energy efficient. A buyer offered $225,000 for a seller's property. Subtract 3.5% is the minimum down payment on a FHA loan. Part 310: Telemarketing Sales Rule Fees; Final Rule Updating the Fees Charged to Entities Accessing the National Do Not Call Registry, 16 CFR Part 310: Telemarketing Sales Rule: Federal Register Notice Containing Notice of Proposed Rulemaking and Soliciting Public Comment on Proposed Amendments to the Rule, 16 CFR Part 310: Telemarketing Sales Rule: Federal Register Notice Containing Notice of Proposed Rulemaking and Soliciting Public Comment on Proposed Amendments to the Rule - Text Version, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule, 16 C.F.R. Tax advantages of owning a home do NOT include A) deduction of hazard insurance expense on a principal residence. A comparable property recently sold for $315,000. A developer purchased two 145-front foot lots for $23,900 net each and divided them into three lots of equal front footage. Stay of Enforcement, if granted, stops the enforcement of a suspension or revocation in the final order pending the outcome of the appeal process. 1.1 - 1.4, in response to questions of general public interest. The land value is 20 percent of the total acquisition cost. Which statement is TRUE? The answer is ACCRETION. A satisfaction of mortgage is given by the lender to the borrower when the loan is paid off, must be sent to mortgagor within 60 days. A building is valued at $135,000 with an estimated 25-year useful economic life. Save our Home (SOH) regulates that the assessed value of a property can only increase 3% annually or the % change of the CPI for the preceding year; whichever is LESS. In addition, truth-in-advertising standards apply if . The earnest money deposit normally appears on the closing statement as a. An EARNEST MONEY DEPOSIT is desirable to protect the seller, but it's not required to make a contract valid. 5 /25 x 135,000 = 27,000 accrued depreciation. The rental property has a negative cash flow of $11,000. Which statement about the economic concept of demand is FALSE? The Florida Consumer Protection Law is located at Fla. Stat. Place the funds in an interest-bearing account in a Florida bank and pay the tenant 5 percent interest (separate interest-bearing FL bank account and pay the tenant at least 75% of any annualized average interest rate or 5% per year simple interest. The assessed value of an 88-year-old legally blind widow's condominium is $49,500. RESPA disclosures at time of loan or within 3 business days of: Which statement concerning Department of Veterans Affairs (VA) mortgage loans is FALSE? A brokerage firm represents a seller as a single agent. Calculate the reproduction cost new of the structure. von | Jun 17, 2022 | tornadoes of 1965 | | Jun 17, 2022 | tornadoes of 1965 | The stepson's interest is that of, The process of land buildup from water-borne rock and soil is referred to as. D) Real estate licensees are exempt from the telemarketing laws. Which document must be given to prospective purchasers only if purchasing a condo from a developer of 20 or more new residential condominium units? What was the approximate yield on the loan? What is the state's intangible tax on a new mortgage of $10,000? 290 x 250 = 72,500 - 47,800 = 24,700 Under the statute of frauds, which element is required for contracts pertaining to the purchase and sale of real property (except for certain specific exceptions)? They have created which type of estate or tenancy? Limited partners must register with the FREC under the limited partnership name. The Federal Communications Commission (FCC) enforces the Telephone Consumer Protection Act (TCPA), which also regulates telemarketing. Informacin detallada del sitio web y la empresa: salvarani.com, +39522969177 SALVARANI | Agricultural spraying, components 12-24 Volt, compressors, test and calibration equipment, Componenti agricultura, compressori, calibratura e regolazione macchine irroratrici The tenant has what type of lease? The brokerage can work with the buyer, in the same transaction. The associate must. Securities registered pursuant to Section 12(g) of the Act: None. Placement of the windows is most important on which type of lot if the homeowner is concerned about the possibility of vehicular headlights shining into the front windows? The seller told her broker that she was revoking the counteroffer and accepting the buyer's original offer. The day after signing the sale contract and reviewing the condominium documents, the buyers notify the broker that they want to cancel the contract. Which statement is TRUE regarding this practice? On February 17, the Justice Department, together with the Federal Trade Commission (FTC), announced a civil enforcement action against several corporate and individual defendants for alleged violations of the FTC Act and the Telemarketing Sales Rule (TSR) in connection with telemarketing campaigns that have involved millions of illegal robocalls. Which property is immune from property taxes? When a loan is paid off in a lien theory state, which instrument should the lender prepare and give to the borrower? Which amendment to the Florida constitution limits how much the assessed value of homesteaded property can increase in a given year? CBS vs. CIA Using the lump-sum age-life method, find the depreciated value of the building. B) Every general partner in a limited real estate partnership who performs real estate services must hold a real estate broker license. A) The real estate licensee is eligible to make a claim for recovery from the fund, because the licensee acted in the capacity of a buyer. Which statement is TRUE? D) penalty-free withdrawal from an IRA if the money is used as a down payment on a personal residence (first time home buyers only). Only 2 members must be consumer members who have never been brokers or sales associates. The brokerage relationship disclosure requirements in Chapter 475, Florida Statutes, do NOT apply to which transaction? which statement is true regarding the federal telemarketing law? The company's phone number is 222-1010. A commercial tenant pays a fixed rent each month. Main Menu Homestead property is exempted from forced sale to satisfy judgement liens for debts owing to personal loans, CREDIT CARD DEBT, etc. Yes, because this is an example of bait-and-switch advertising, and it is illegal. Real estate licensees may contact their former customers for up to 18 months following the closing of a transaction, even if the customer's name is on the national registry. How much is the minimum cash investment on an FHA loan? If the annual operating expenses amount to $36,990, and a prospective investor insists on at least a 12 percent overall rate of return, what is the maximum amount the investor should pay for the property? croatia vs bulgaria prediction; he said she said wedding game; Deeds and Mortgage Instruments Also, created a uniform statewide rating system for rating new and existing residential, commercial and public buildings. Which list of appraisal methods is unique to the appraisal of business enterprises? Which item would be classified as a fixed expense in the calculation of net operating income? Within ten business days after the deposit is due under the sale contract, the broker . How is the earnest money deposit entered on the closing statement? D) Buyer finds another property at a lower price and demands a refund of the earnest money deposit. Better Vacancy and collection losses. The "21 Rules You Must Use" are the most important things you need to do now and on an ongoing basis to prevent identity theft. The statute of frauds requires that contracts conveying an interest in real property and contracts that aren't to be performed within one year of the date created must be in writing and signed to be enforceable.