share plus a$100 brokerage fee. If firms offer differentiated products, thenbuyers have increased power.B. 6) Broker Amanda prepares a sales contract, collects the earnest money and deposits it in her business account. E) operating variables, Answer: E a) Use provisions b) Demising clause c) Description of premises d) Alienation clause. #12. If a seller changes the terms of the offer to purchase, he has created a counteroffer. Chapter 3 Multiple Choice Flashcards | Quizlet d) require higher down payments than government-backed loans require. c) The tenant goes out of business. c) have more forms than government-backed loans. b) is also called an exclusive freehold estate. c. Both (a) and (b) are true. b) are less flexible than government-backed loans . For transactional customers, the salesperson should center primary attention on the purchasing staff. Answer: B a) Draw Loan b) Banked Loan c) Bridge Loan d) Straight Loan. a) for a buyer who plans to own the property for a short time and believes the property will appreciate during that time. c) the mortgage itself provides the only security for the loan. 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. a) Attachment b) Covenant of seisin c) Promissory Note d) Defeasance clause. #3. c) To reimburse clients for money that was misused by their attorney. Diff: 2 A purchase offer is a binding contract between the buyer, the seller and their agents. 3) Which of these is a common property description? E) horizontal market, Answer: B a) Proceeds from tax exempt mortgage revenue bonds b) Private investors c) HUD funding d) Proceeds from state sales taxes. 9) When a tenant agrees to pay all taxes, insurance, maintenance and repairs, that tenant has what kind of lease? e. none of the above. a) Attachment b) Covenant c) Bond d) Bill. a) It's an accepted offer; therefore a valid contract. An offer or counteroffer can be withdrawn at any time before it has been accepted. 9) Sellers Glen and Jill are closing on their home sale next week. a) both an instrument of conveyance and a contract. LO: 6.3: What are the different levels of market segmentation? a) A parol contract b) A six-month lease c) A two-year lease d) An executory contract. a) They can cancel the contract and get their earnest money refunded. a. b) The bundle of rights linked to the recorded title to a parcel. a) deed. D. The interest payment is always smaller then the amount allocated to the principal. a) Good Faith Estimate b) Truth-in-Lending Statement c) HUD-1 Form d) Mortgage Loan Disclosure Statement. A) naked solution An exclusive agency agreement differs from an exclusive right to sell agreement because under an exclusive agency agreement the firm is not paid if the seller finds a buyer on their own. E) actionable, Answer: D Diff: 2 Ricardo had a duty to determine if fences were permitted even though the listing information sheet did not indicate anything regarding fences. AACSB: Analytical thinking, 51) For a segment to meet the ________ criterion of usefulness, the marketer must be able to formulate effective programs for attracting and serving the segments. B) It can help create jobs in the economy by increasing demand for goods and services. Regardless of how the seller completes the form, the licensee has a duty to disclose all material facts so the liability rests with the listing agent. C. The process of obtaining commitment occurs only toward the end of any sales call. When the party who made the offer is notified of its acceptance. b) Preservation and Maintenance of Property. 1) Grant moves into his new office space while he awaits the completion of the negotiations of the lease terms. a) To protect lawyers who are sued by clients b) To compel real estate companies to use standard forms c) To reimburse clients for money that was misused by their attorney d) To prevent licensees from preparing real estate contracts. How will they know how much money they will receive from the sale? All multiple offers must be presented at the same time; if you know of an offer that is coming in, you must tell the sellers at the time you present the current offer; if you know of any verbal offers, share that information with the sellers also.
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