He received an unwanted solicitation call from a new real estate licensee in the city. What does this indicate about demand for housing in the area? The economic principle that tells us that when supply goes up, price goes down, is commonly referred to as what? What type of loan does Lydia have? A like-kind exchange, or 1031 exchange, is also referred to as a ______________. Informing parties of material facts related to a transaction describes the duty of ______. What type of real estate investment may meet the definition of being a security, and, therefore must adhere to the rules and regulations of the Securities and Exchange Commission? Which state act prohibits unfair or deceptive business acts? What's the maximum rate that may be charged at any point during the life of the loan? Rose, represented by Sandy, and Tina, represented by Julie, entered into a sales contract for Rose to purchase Tina's home. Which of the following statements is true of financing a commercial property purchase? In DC, real estate salesperson licenses must be renewed every two years in odd years by which date? They must have had legal title since January 1. He polls his customers and learns that they tend to come from less than a mile away. Elizabeth's property is encumbered by an easement in gross with which of these entities? One element of misrepresentation is when ______. To determine their readiness to purchase and make sure they're not already working with another agent. One or both parties have completed only a portion of the terms agreed to in the contract. Disclose his agency relationship with the seller to the prospective buyer. Hold the check in the office safe and immediately deposit it when it comes due. What other requirement must they meet? Which action best demonstrates good faith related to the disclosure of these events? Oh no! Which of the following is true about a variance? What type of agency relationship do you and the other licensee have with your clients? Quail Meat: The meat from quail have very low-fat content. Which term best describes the transfer of land through eminent domain or condemnation? Which of the following statements about a buyer's requirement to disclose financial or credit information to their broker, the seller, the seller's broker, and any lender is true? Jane is purchasing a property for $310,000 and plans to finance $250,000. Which category of appraiser must be supervised by a certified appraiser? Nora is discriminating based on ______. Hand-Wrapped. What's a change to an existing sales contract called? It substantially affects more than one county. So if you are a quail, you might quail at the thought of quail-hunting season. What special concern do foreclosed properties often present? A client terminates a listing agreement before its expiration date. Which of the following is an instrument of conveyance? When Ruby purchased her property, she agreed to allow it to be subject to foreclosure if she didn't pay her property taxes. How is reasonable belief defined in adverse possession? Which of the following is deductible on an income tax return? When is the seller paid the full amount of the purchase price for the property? Why might he choose this route over traditional financing? A multi-family residential income property. What type of planning is this? In the real estate market, when demand exceeds supply, it means what? Which of the following is the sunshine law based on. The Hendersons don't have enough money to make the full 20% down payment their lender requires. Trulia, Zillow, and RealtyTrac use AVMs to return values. The purpose of a CMA is ________________________. Which of these statements is true. You can assume Billy and Elizabeth work for the same brokerage and that each of the scenarios involve residential transactions. They can allow you to control what pictures and information other people see. The GRM for Sunny Hills is 147. Can receive compensation directly from buyers or sellers, Must receive compensation through their broker, Conducts real estate brokerage activities, Responsible for the acts of all licensees who work under them, Joe conducts brokerage activities; therefore, he is a real estate broker. The lender is seeking to have Kyle make up the difference. She'll have to pay a mortgage insurance premium (MIP). What type of zoning is this? What can listing agents prepare for their clients to give them unofficial estimates of all closing costs? Microscopic pieces of mold that float around in the air are called what? What duties do you owe to that customer? Callie is a resident of Florida and can apply for a Florida real estate license. Many of an agent's fiduciary duties to the client end with the termination of an agency agreement. Which option describes a subordination agreement? A 20-acre parcel on the edge of the neighborhood sold recently. The rules include _______________. In which section of the Regional Sales Contract can the buyer indicate whether they want to purchase coverage in case something goes wrong with the property's systems and appliances? Which of these examples describes a prepayment penalty? Which element is applied first? Unintentional encroachment, title and legal issues. Pronunciation /kwāl/ /kweɪl/ Translate quail into Spanish. Age, marital status, personal appearance, sexual orientation, gender identity or expression, family responsibilities, genetic information, matriculation, or political affiliation. Which of the following statements is true regarding a partially performed sales contract that otherwise contains all of the essential elements? Alex and Michael Helbig sign a contract to purchase their first home from sellers Joe and Bonnie Watson. You've entered into a no-broker relationship with an unrepresented buyer who wants to see one of your listings. You tell the truth about the event when asked. Who usually pays the documentary stamp tax on notes and the intangible tax on new mortgages in Florida? Your client, George, has a serious complaint against another licensee, who he believes has violated real estate law. Phyllis and Maury obtained a mortgage from Taylor Bank & Trust in 1998. However, at the last minute, Cindy has a change of heart and wants out of the deal. What makes an income tax lien different from a property tax lien? Who collects and gathers information for background studies used in a comprehensive plan? They ask her what other incentives they could include in their offer to get the seller to come down on their price. None are indigenous to Australia. Which of the following parties is permitted to void the contract? ______ describes a unique characteristic of real property (differentiating it from other asset classes). What is the maximum civil penalty that can be assessed under the Florida Deceptive and Unfair Trade Practices Act? To determine an appropriate listing price range. All of the following are true regarding implied agreements EXCEPT which one? What must you immediately disclose to the buyer's agent and buyer? Coin-operated laundry equipment, vending machines, and late fees are all examples of _____________________________. Confidentiality, obedience, loyalty, and full disclosure. The "IRMA" acronym helps identify the four tests of a fixture. What does the 9% rate represent? What purpose does the promissory note serve? What's next for a licensee candidate who's successfully completed the pre-licensing course and have had their sales associate license application approved? What should you do? It's open for lunch and dinner six days a week, and 80% of its weekday revenue comes from the happy hour drink and appetizer specials. The lump-sum compensation the licensees received became subject to withholding taxes. The cooperative board must approve Mariah's application before Leo can sell his membership share to her. Which of the following statements is true? On August 1, 2015, Kate refinanced her mortgage through Bank C, which resulted in Bank A's loan being paid off. What was the original cost of the property if there has been a 30% loss in value? What type of real estate investment may meet the definition of being a security and must adhere to the rules and regulations of the Securities and Exchange Commission? Which of these phrases means "let the buyer beware"? An investor suggests that Ted enter into a sales contract with him for a substantially higher price than the investor would actually be paying. Who reviews transactional documents for accuracy prior to or at closing and requires the property to be free and clear of defects before approving the buyer's loan application? Quail definition is - any of numerous small gallinaceous birds: such as. Marcy's offer on a home was accepted! There's a fee for recording, so why would anyone choose to pay this fee? The numbers start in the northeastern corner and follow a zigzag pattern. Once all parties have attended closing, and the purchase has been funded, the Helbigs are given the keys to their house. You're a farmer. Real estate is NOT considered a ________ investment due to the fact that it may be more difficult to sell quickly without a loss of capital. Identifies any items needing replacement or repairs. See the definition, listen to the word, then try to spell it correctly. Which activity is he legally allowed to perform? The lender holds the mortgage and the note. According to the Florida Timeshare Act, consumers have ______ calendar days in which they can cancel their purchase. Without this easement—usually involving access to a road—the owner requiring the right of passage would be landlocked. In a seller agency relationship, what relationship does the buyer have to the licensee? It occurs when government actions deprive a property owner of the value of the property without offering just compensation. Her lender is demanding that the entire loan balance be paid in full. It includes automatic survivorship rights. How many members serve on the Florida Real Estate Commission? If a three-bedroom, one-bath house in Sunny Hills rents for $820 monthly and sold for $125,000, what is the suggested value of a house that leases for $1,000 monthly based on the GRM? Reasons Why Quail Farming Might Be Right for You. It can be placed on a single property, an entire subdivision, or a neighborhood. This page offers a glossary of Civil War terms. Dispute the complaint and request a hearing. Keep records of your recommendations and a written response from Eric. The fewer properties on the market, the greater the scarcity. Jerome, a real estate licensee, can only work under the supervision of a broker. You're attending a speech on the societal impact of fair housing and the speaker, who is an advocate for diversity in communities, begins the speech by asking who benefits from enforcement of fair housing law. You're the listing agent for a property where an unfortunate series of deaths took place. How much longer do you have to be affiliated before you qualify for a broker's license? To comply with the Statute of Frauds, an option contract must be ______________________. How much is the buyer financing? In a title theory state, which of the following is a true statement? Gander … A _____________ is an estate that conveys possession and control, but not title. Is he now qualified to obtain a real estate broker license? Mr. Schroeder installed built-in bookcases which he intended to remain as part of the home forever. Shop For Quail at Stromberg's! Charlotte will have to pay a membership fee to join the NAR. Interest on the first $750,000 of mortgage debt is deductible for married couples filing jointly or $375,000 for married couples filing separately. Angie and Terrell have just found out that there is a lien on their property for real estate taxes. What is the definition of "before-tax cash flow"? Now Rose has to buy the property as-is. A consumer is moving to a new area and uses social media to try to line up a real estate professional to help him find a new home. Andrea, a commercial developer, is planning to build an apartment complex on a lot in Miami and is using the land as collateral for the loan. What often comprises the sum total of a buyer's mortgage payment? What type of mortgage is this? How many years of experience must a licensed sales associate in Florida have before applying for a broker license? After owning a tattoo parlor for 12 years, Gilbert sold it. According to Florida's ADA Implementation Act, which of these modifications must he make? Disclose the interest to all parties to the transaction. Business assets are separated from personal assets. How do brokers/licensees obtain their commission? Only an engineer or architect can ______ a septic system. Geneticists want to mate the super models and body builders of the chicken world to get Quail is incredibly flavorful and super simple to cook. This is not my area of expertise.". Learn about how we are dealing with COVID-19 | Important Updates. Rolling over funds from one IRA into another. Why does the closing agent review the purchase contract? What happens now? When it came time to plan the city, Arlene (the agriculture specialist), Robert (the residential guru), and Carmen (the commercial genius) all locked themselves in a room and planned the area together. What is the initial expiration date of his license? The utility company that needs to access the power line which crosses a corner of Elizabeth's land. Lydia put the minimum 3.5% down on her $210,000 home. His lender's loan-to-value ratio is 90%. Sanjeev leases a house from Clara, and the lease has an option contract attached that permits Sanjeev to buy the house if he chooses to exercise the option within three years. A new real estate professional is getting to know licensees at his new firm. Your buyer client Heather just signed a purchase agreement for a $520,000 home. Tenant turnover, increases in property taxes, and other costs are examples of what? This usually equates to brown colored birds, with dark brown or black patches or banding. You've recommended that soil, air, and water testing be done, but Eric is on a tight budget and doesn't feel these tests are necessary. A buyer is purchasing a property for $400,000. Jacqueline is a licensee working with a property near a Superfund site. These particular types of birds, Coturnix Quail (VT) and Texas Prime Quail (TX), are bred in order to provide a finished product that is known for its meatiness and natural tenderness. Although her instructions to devise her property to her daughter were explicit, her husband inherited. How should you advise George? What must be done for a fee to be considered acceptable under RESPA? Which fiduciary duty never ends? An adjustable rate mortgage has an initial interest rate of 5%. Which decision stated that separate facilities for blacks and whites were constitutional as long as they were "equal"? Discuss the issue with your clients and let them decide. In order for misrepresentation to occur, what must happen to the person who relied upon it? The Japanese scientists first tamed the wild quails and revealed the ways to raise them as domestic birds. The buyer could sue the seller for specific performance. What would happen if you bought a house and later found out that there were unpaid liens against the property? Sally has just purchased a condominium. The value principle of ______ is the basis of the income approach to appraisal. Which of the following statements about buyer representation is true? (uncountable) The meat from this bird eaten as food. In order to sit for the real estate sales associate examination, you must provide proof of ________________. A prostitute, so called because the quail … When a property owner wishes to convey her property to a new owner, she will generally use a ______. Congratulations! To make the down payment on the car, he had to skip a couple of his mortgage payments. What covenant is Ari in danger of violating? The seller tells you that the property is serviced by the public sewer system, but when walking up the drive you noticed the access hatch for a septic system. Loretta is an unlicensed assistant in Ft. Lauderdale. What's one benefit to affiliating with a broker? The chance that an investor might lose money is known as __________. At all subsequent adjustment dates, the interest rate can be adjusted a maximum of 2%. Which of the following is a way that the Florida Timeshare Act protects consumers? Which of the following statements is true of a material fact? Request a verification of deposit within 10 days of the due date stated in the sale agreement. Jan obtained a mortgage from a savings and loan in order to buy a second home. Voluntary alienation occurs when the property owner decides who will acquire the property. Which type of antitrust violation occurs when the providing of one service is made dependent on the customer or client obtaining another recommended service? Which type of analysis starts with a visit to the property, a search on the MLS, and a comparison of comparable sales, and hopefully ends in a listing for a real estate licensee? When structuring an offer, if a seller's need is related to obtaining a specific price, what can a buyer offer to meet the seller's need? Samuel is excited to launch his new website! What is your maximum penalty? What economic principle is at work here? Which of these is something that is NOT requested in the initial fair housing complaint form? You represent the buyer and seller in the same transaction. How many single agents from a single brokerage may be part of a single residential transaction? A buyer is purchasing a property for $500,000. Mary contracted to buy her mother's house when her mother moves to a senior living community, but now Mary has to move because of work and no longer wants to buy the house. Which of the following statements is true of investment properties? Alana and Michael want to build a 5,000-square-foot ranch home on two acres of land they just bought. What agency/act is designed to "preserve, protect, develop, and where possible, to restore or enhance the resources of the nation's coastal zone"? Which of the following describes a deed restriction? Beat your last streak, or best your overall time. Daisy went through her records and discovered that she had never paid the general contractor. The listing agent stops working on the listing. Where is this information available? So, it is the best replacement of the red meat for those who are suffering from high blood pressure problem. Which penalty type has imprisonment as a potential outcome? Real estate contracts must be in writing. Whose responsibility was it to convey Rose's wishes to Tina? stimulus discrimination example quizlet, Sensitivity. Two large local brokerage firms agreed to lower their commission rates to the same amount, approximately 1% lower than any other firm in town. Anthony lives in a two-story apartment building. How will he typically be paid? Round to the nearest cent. Which of the following is a mortgagor's responsibility? Times change, huh, honey?" Which item is required to be a part of every broker's office? What's the point from which elevation is measured? Which of these is likely the answer the speaker is looking for? Budgeting for items such as repairs and improvements is considered part of which budget? The secondary mortgage market buys loans from the primary market. The term "ad valorem" is Latin for ______. Which valuation method estimates the proceeds that can be generated as a result of selling all assets and inventory and paying off short-term liabilities? Which economic principle is related to supply and demand? How much is the loan origination fee? When Dashiell receives the purchase offer for his bungalow, he's surprised to see a page added to the contract requesting attorney review of the contract. Which lender currently holds the subordinate loan? The false statement caused harm to the person who relied upon it. They'd like to be known as the Sharks. Start studying Quail. Joe's listing agent is Keri, and Betsy has no representation. The Johnsons have accused the town of _____. Ken, Dale, and James are brothers who own more than 100 acres as tenants in common. Enforce consumer financial protection laws. From time to time, a thane of the king, who had made many vaunts, and was mindful of verses, What is the maximum amount that will be paid out of the Florida Real Estate Recovery Fund for a transaction? Consequences of this ruling for the brokerage involved which of the following? The basic coverage type, Coverage C, is written to protect __________________. What is the loan-to-value ratio? Which approach to value measures the cost to produce a property, including land acquisition and construction costs? The buying and selling of government securities as a way to influence the money supply and balance economic growth describes _________. What would be a reason for getting a home inspection done before closing on a property? What characterizes a development of regional impact? When a property owner wants to raise rent to cover the cost of a capital improvement, the decision must be made by the ________________________. When reviewing the legal description, he sees the name of a principal meridian. To make valid computations of adjustments for the sales comparison approach to value, elements of comparison must be applied in a specific order. Both, because any criminal conviction must be disclosed. The ______ Act was created by the Florida legislature to establish the legal rights and responsibilities of real estate licensees. Chapter 475 of the Florida statutes, called the ______, sets forth the law regarding real estate brokers, sales associates, and real estate schools. Which consumer protection act enacted in 1974 prohibits kickbacks and referral fees and requires written lender disclosure of estimated and final settlement costs? The owner is concerned about the noise and other activity the freeway will bring, but doesn't want prospective buyers to know this. No Lard, Gluten Free, No artificial colors or preservatives. Jason and Pat notice some brown spots on the ceiling of a home you have shown them. When the owners of the large acreage decided to subdivide it, they needed to have a legal description created for the five-acre lot. Which element is applied first? Uniform Standards of Professional Appraisal Practice. What does quail mean? Fragrances, herbicides, and disinfectants are the primary contaminants. Before finalizing the sale, Parker has a change of heart and decides to renounce all worldly possessions. What's this an example of? Erica and Stephanie are buying a rental property together to make some extra money, and need advice on financing and the tax implications. When a tax certificate is issued, it means what? Cash flow before taking income taxes into account. What's the annual interest on a $20,000 loan on which the interest rate is 6.5%? Jack, Jerry, and Joe purchased a property together. The terms of a person's will are subject to ______. To recover the money lost in anticipated interest. One of the reasons why workers are classified into taxing categories by the federal and state governments is to ________. When does a transfer tax become payable in Florida? Drew and Hank were camping at Hank's riverfront cabin. Mitch, your seller, has asked you about the tax ramifications of selling his townhome. "You should ask your tax advisor. Housing and Community Development Act of 1974. Which document establishes path and proof of ownership? Quail eggs are very nutritious than other poultry eggs. Lara is not required to give any notice of non-representation to Trina. Rico is an appraiser who is performing a valuation on a property. Cooperative corporations own all of the following EXCEPT ______. The purchaser of a mortgage will receive a/n ____________________, which establishes the facts of the borrower's financial obligations (unpaid balance, interest rate, and date to which interest has been paid). What may happen if a property lies in a designated floodplain? An adjustable rate mortgage has an initial interest rate of 5%. In addition to an individual's complaint filed with HUD or filed as a civil suit in a federal district court, who else can file a fair housing complaint? The list price is the price for which the ________ has agreed to sell a property. If Carol finds her own buyer, does she owe Mardee a commission? Luther is analyzing an investment property. What's the term for a charge that either party has to pay at closing? Call Us (800) 720-1134. What must happen to all contingencies in a sales contract prior to closing? Over the life span of owning a home, homeowners will be able to take advantage of what tax benefits? The Federal Trade Commission might require all of the following EXCEPT ______. This is an example of ______. It's two months later, and Hank is upset that Drew now says he won't buy it. Chaz represents the buyer in a transaction that has just closed. He needs to access ponds, lakes, oceans, and asked Heather about it the... Said she had never paid the full amount of representation is true regarding a partially sales. ) __________________ Joe and Jerry each put up one-quarter of the required advertising information is n't quail for sale ontarioapportioned definition quizlet another! 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