All Forum Posts by: Mark E

I mean in your opinion with the current situation with the market and loans would they bend some of there policies and and let someone else that is quaified assume the loan if I admit to them that I can no longer make these payements as relief to the current borrower? Unless they rather have a foreclosure or have the payments still come with different borrower?

I have a potential homebuyer a trust worthy friend that has great credit and income/assets etc. And with one of my properties im upside down in terms of value etc. Im on a interest only loan with no pre-payment penalty. Is it possible now with my current lender I have my loan with for someone to assume the loan and myself being taken off? Are they more strick in terms of assuming the loan if it can be transfered? Because in all honestly its going to be hard for me to keep up with these payments since the economy has taken a dump and prices like gas are on the rise. If I explain to the lender that I won't be able to survive making this payments however I have someone that wants to the assume the loan that can make these payments will that work? Any advice? Has anyone performed this type of transaction before? Thanks..

So far I got these answer... what do you guys/gals think?

1. C
2. D
3. A
4. D
5. B
6. C

1) You are the listing sales associate. Once the seller hs accepted an offer, you should:
a. be sure the buyer inspects the property the next day
b. wait for the selling sales associate to open escrow.
c. help the seller meet all terms of the pruchase contract in a timely manner.
d. help the buyer fill out the loan application in order to obtain financing.

I know it couldn't be D. im thinking it is C.?

2) How could a real estate sales associate best prepare for a listing appointment with a seller?
a. Prepare a CMA
b. Send the seller a pre-listing package
c. Prepare a property marketing plan
d. All of the above

3) Of the following, what should a sales associate do to present a winning and professional listing presentation?
a. bring a net sheet, cover letter, and advertising samples
b. set the price and give it to the seller.
c. leave all listing forms at the office.
d. All of the above.

4) Laura is the salesperson at an open house. She notices one woman lingering in the home. What should Laura do?
a. Tell the guest the open house is over and she needs to leave immediately.
b. folow the guest from room to room
c. Ask the guest if she is interested in buying the home.
d. None of above

5) Is the broker able to guarantee the performance of service providers?
a. yes
b. no
c. Only in extreme cases
d. All of the above

6) You should advise the seller to prepare his or her home for sale by:
a. paying for a lockbox
b. determinging attorney's fee
c. scheduling a professional home inspection
d. setting up "For Sale" sign

Like the subject says just had a question on what are the common disclosures used in Real Estate other than the TDS and NHD? So far I came up with:
Disclosure Regarding Lead-Based Paint Hazards
Smoke Detector Statement of Compliance
Real Estate Transfer Disclosure Statement
Termination Right

I know there more but im looking at what is commonly used in Real Estate.

Agents that have many listings will be the ones that prosper. The reason is they will be paid no matter who the buyer is. Why do you think this is an accurate statement?

Assume you are in need of money and ask broker John to negotiate a second trust deed loan for you. Which of the following will be the brokers responsiblitiy?
a. make sure that the trust deed has the proper amount of revenue stamps on it
b. have the broker's loan statement signed by all three parties
c. make sure that the property is appraised to justifiy the loan
d. see to it that the turst deed is recorded and names the lender as the beneficiary.

Ms. Olden received an option from Mr. New on a piece of property valued at $1,000,000. As consideration for this option, Ms. Olden gave Mr. New $10.00 in cash. THe option is:
a. invalid
b. valid
c. voidable
d. unenforceable

Hello guys/gals im preparing to take my real estate exam in the next 2 weeks and im finishing up the class that im in. However, at this time im sick and can't go to class this week and in my time in bed resting im finding time to study some multiple choice questions 450 questions!!However, I don't have the answers to all the questions so if I typed some of the questions down can you real estate experts help me with some of the problems? Thanks

I have an issue coming up were my parents are selling there investment home of 6 years and want to re-invest in another state. However, will they avoid paying capital gains if they buy a property acouple of months after the sale of there current investment? Or are there guidelines like the home has to cost more than the current investment to avoid the gains ex. current home worth 400,000. And investment home they want to purchase is 160,000. Will they still avoid the gains or will they have to purchase a home worth the same or more than 400,000? Thanks!