A buyer has applied for a 20-year mortgage of $52,000 at 7 3/8 percent interest. The TCPA restricts telephone solicitations (i.e., telemarketing) and the use of automated telephone equipment. 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? The right of the state to take property of a person who died intestate and without heirs is known as. The first broker to secure a buyer who is ready, willing and able to purchase at the terms of the listing is the PROCURING CAUSE and earns the commission. Special Assessments are one-time taxes levied on properties to help pay for some public improvement that benefits property - typically levied on a front foot basis or per hookup basis for utility and sewer improvements. Which statement applies to this situation? EGI - OPEX = NOI Deed is considered voluntary because it's under the owner's control. A couple are interested in purchasing residential investment property, and they have informed their sales associate that they want limited representation but do not want to be legally held responsible for the acts of a licensee. The SE1/4 of the SW1/4 of the N1/2 and the NE1/4 of the SW1/4 of Section 19 contains how many acres? The broker must notify the Florida Real Estate Commission in writing within 15 business days of the buyer's and seller's conflicting demands for the earnest money. A lease calls for annual minimum rent of $14,500 plus 3 percent of annual gross sales in excess of $350,000. An official website of the United States government. The Florida Real Estate Commission (FREC) issued a seven-year suspension of a broker's license. What was the approximate yield on the loan? 1. For copies of the rules and commentaries relevant to your Internet enterprise, contact: Consumer Response Center, Federal Trade Commission, Washington, DC 20580; toll-free: 1-877-FTC-HELP begin_of_the_skype_highlighting 1-877-FTC-HELP end_of_the_skype_highlighting . Use the actual number of days in the closing month when determining the time line. Vendor's Lien - equitable lien of the grantor (seller under a PMM) on the land conveyed in the amount of the unpaid purchase price. In the Government Survey System, the six-mile vertical strip of land that extends from the north to the south of Florida, located immediately west of the Tallahassee Principal Meridian, is called. 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. 640/4/4 = 40 CREDIT TO THE BUYER ONLY - the buyer pays the binder deposit when the contract info is entered into - entered as a credit to the buyer since this portion of the purchase price has already been paid and will not be paid again. How much of the $414.94 monthly payment paid in month two will apply to principal? Homestead property is exempted from forced sale to satisfy judgement liens for debts owing to personal loans, CREDIT CARD DEBT, etc. TILA/Reg Z makes "Bait and Switch" advertising a federal offense. (page 362), Jalousie - window is almost impossible to seal; therefore, it's the lease energy efficient. On June 29, Gov. Real estate licensees may contact their former customers for up to 18 months. (1) by the person or entity providing a wire or electronic communications service; (2) by a user of that service with respect to a communication of or intended for that user; or (3) in section 2703, 2704 or 2518 of this title. The loan officer has three business days to give the loan applicant a copy of the information booklet. Similarly, a brokerage firm working in a no brokerage relationship capacity can work with a buyer. The referring tenants do not hold real estate licensees. All national chartered commercial banks are members of which entity? Market is local in nature; 3. 485 x 76 = 36,860 The brokerage relationship disclosure requirements in Chapter 475, Florida Statutes, do NOT apply to which transaction? C) 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. NOI and Sale Price. Deed is considered voluntary because it's under the owner's control. Find legal resources and guidance to understand your business responsibilities and comply with the law. A buyer offered $225,000 for a seller's property. Licensees must notify the DBPR in writing within 10 days of a change in current mailing address. Wattage is the measurement of the amount of energy consumed. b. self-serving bias e. social categorization, Briefly explain the importance of each of the following. In the Government Survey System, the six-mile vertical strip of land that extends from the north to the south of Florida, located immediately west of the Tallahassee Principal Meridian, is called. It was first signed into law by President George H.W. The Division of Marketing Practices periodically issues informal staff advisory opinions in response to requests for interpretation of the Telemarketing Sales Rule. Online Advertising and Marketing. The loan officer has three business days to give the loan applicant a copy of the information booklet. Which statement is TRUE regarding this situation? What is the total property tax exemption on her homesteaded property? ($500 fine if not notified correctly). The radon test indicates a high level of radon gas in the home, and the buyer gives written notice to cancel the contract. Total is 60 Acres. The contract is contingent on a radon test. 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. is exempt from the sales associate course; however, she must pass a written Florida-specific real estate law exam. The Telecommunications Consumer Protection Act of 1991 (TCPA) is a piece of U.S. federal legislation that set guidelines for telemarketing practices in response to consumer complaints. A buyer has applied for a 20-year mortgage of $52,000 at 7 3/8 percent interest. When a loan is paid off in a lien theory state, which instrument should the lender prepare and give to the borrower? The tenant has a tenancy. Which statement is FALSE? Which type of window is the least energy efficient? The loan officer did not give the loan applicant a copy of the HUD information booklet concerning settlement costs at the time of loan application. The extensible markup language (XML) is a markup language promoted by the World Wide Web consortium (W3C). Therefore. Good Faith Estimate (GFE) The tenant has a tenancy, Tenancy at Will - if the tenant's holding over is continued with the written consent of the lessor, the tenancy becomes a tenancy at will under FL law. Range 1 West is located immediately west of the principal meridian and base line. The National Do Not Call Registry is a database maintained by the United States federal government, listing the telephone numbers of individuals and families who have requested that telemarketers not contact them. C) Principal comprises the majority of the payments. The earnest money deposit normally appears on the closing statement as a. Business Combination Agreement and Plan Of Reorganization, dated February 24, 2023 from Oxbridge Acquisition Corp. filed with the Securities and Exchange Commission. Which statement about the economic concept of demand is FALSE? D) Limited partners may participate in management activities of the limited partnership. D) Credit unions are exempt from the Real Estate Settlement Procedures Act. Management considerations is one of the disadvantages of investing in RE. 52,000 - 95.36 = 51,904.64 (page 372), Municipal Airport - immune properties are city, county, state and federal gov't properties, Special Assessments are one-time taxes levied on properties to help pay for some public improvement that benefits property - typically levied on a front foot basis or per hookup basis for utility and sewer improvements. Deed is the written instrument to convey an interest in real property. (page 267). Comp Criminals use this method as a way to obtain a victim's credit card information, identity, or bank account numbers. The overall capitalization rate (OAR) is determined by analyzing which two components of similar properties in the subject property's market area? allows a sales associate or broker associate employed by an owner-developer to sell property for all the affiliated entities owned by the developer. Governance Form summarizes board of directors and the rights of the unit. Choose the correct concept with the example below: When Fern saw the man sitting on the steps in San Francisco holding a cup, she thought he was a homeless person. press system to optout of receiving their prerecorded telemarketing messages;(2) to add the consumers' telephone numbers to the seller's do-not-call list; (3) to immediately disconnect the call; and (4) when leaving a message regarding a telemarketing call, the small business must Annual Gross: 450,000 - 350,000 = 100,000 x .03 = $3,000 The Telephone Consumer Protection Act (TCPA) was passed in 1991 in response to consumer complaints of increased marketing calls and automated, pre-recorded messages. B) Every general partner in a limited real estate partnership who performs real estate services must hold a real estate broker license. Which item would be classified as a fixed expense in the calculation of net operating income? The brokerage relationship disclosure requirements in Chapter 475, Florida Statutes, do NOT apply to which transaction? How will the property taxes be entered on the closing statement? Lynn's home phone number is 333-2020. How will the property taxes be entered on the closing statement? ), $475,000*.8 = $380,000 / 39 years = $9,744. A township has 36 parcels called "sections." A developer purchased two 145-front foot lots for $23,900 net each and divided them into three lots of equal front footage. A person who rents lots in a mobile home park. 3. Mortgage origination fees (points) Which type of depreciation is associated with inefficient architectural design? Which property is immune from property taxes? (page 166), 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. The developer sold the lots for $250 per front foot. Less than $50,000 = $25,000 C) notification that the energy-efficiency rating of the structure may qualify the buyer for an energy-efficient mortgage. PGI - V&C = EGI What is the annual rent for the year if the annual gross sales are $450,000? A broker is NOT required by law to notify the FREC of conflicting demands in which situation? 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? Federal and State Laws, Regulations, and Related Court Decisions Executive Orders and Other Presidential Actions The president creates many documents to issue orders and make announcements. It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. Which statement is FALSE regarding earning continuing education (CE) credit by attending a legal agenda session of the monthly Florida Real Estate Commission (FREC) meeting? The seller is still owed the entire amount of the purchase price. A buyer and seller enter into a contract for sale and purchase of a home. A licensee may not earn credit for attending a FREC meeting if the licensee is on the legal agenda for disciplinary action. The associate continues to be employed by the same broker, who has an office in Atlanta. Calculate the reproduction cost new of the structure. Complaint resolution for homeowner associations is provided by which division of Florida government? It amended the Communications Act of 1934.The TCPA is codified as 47 U.S.C. astros vs yankees cheating. (Round answer to nearest dollar. writing bad checks, crimes of larceny). Study with Quizlet and memorize flashcards containing terms like Which type of business entity is at risk of no longer continuing if the owner becomes incapacitated?, Certain age-55-and-older communities are exempt from the familial status provisions of the Fair Housing Act if the communities offer amenities, specific programs, and activities designed for the mature adult and, Capri Realty is . A broker working in a no brokerage relationship capacity with a seller can enter into a listing agreement with that seller and be paid a commission. What is the state's intangible tax on a new mortgage of $10,000? C) The loan officer can be fined by the Department of Housing and Urban Development (HUD). A real estate licensee purchased a home from the seller. $276,060 total. A comparable property recently sold for $315,000. NOI = Cap Rate x Value (sale price) THIS AGREEMENT AND PLAN OF MERGER AND REORGANIZATION (this "Agreement") is made and entered into as of February 19, 2014(the "Agreement Date"), by and among Facebook, Inc. Section 31 would be located in which corner? For a violation of any of the telemarketing rules in Florida Statute Section 501.059, consumers can now sue to enjoin the violation and recover actual damages or $500, whichever amount is greater. C) Sellers decide they do not want to sell the property and refuse to allow the broker to release buyer's earnest money deposit. C) tenants and buyers of all residential property built before 1978. Securities registered pursuant to Section 12(g) of the Act: None. Which list of appraisal methods is unique to the appraisal of business enterprises? Residential leases are usually gross leases. A qualified buyer offers to pay the $2,000 down, but the developer states that the $2,000 down homes are all sold. Which statement is TRUE? Our mission is protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity. Federally-related transaction includes: After the closing, the licensee discovered that the seller's broker had failed to disclose latent defects. EXCULPATORY CLAUSE is a provision in a mortgage or note in which the lender waives the right to a deficiency judgement against the borrower and the borrower is relived of personal liability to repay the loan. A closing is set for July 15. Management; 5. The company's phone number is 222-1010. The seller countered at $250,000. The total square footage of the livable area is 2,600. Which statement is TRUE regarding this practice? (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee. A) The loan officer has three business days to give the loan applicant a copy of the information booklet. C) Limited partners are personally liable for the debts of the partnership. Therefore, debited to seller and credited to buyer. 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. Exclusion from gain on sale of principal residence up to $250K for single person, $500K for married couple filing jointly. It's one mile square of 640 acres, Range 1 West is located immediately west of the principal meridian and base line. Which type of listing allows the seller to list the property with other brokers? The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. 14 Real estate related computations and c, 63 hour Real Estate practice Exam (first 50), Course Exam Review for Tampa School of Real E, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Alexander Holmes, Barbara Illowsky, Susan Dean, Calculus for Business, Economics, Life Sciences and Social Sciences, Karl E. Byleen, Michael R. Ziegler, Michae Ziegler, Raymond A. Barnett, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield. Informacin detallada del sitio web y la empresa: hotelroyalvasto.com, +39873801950 Hotel Royal Vasto Marina - Hotel 3 stelle sul mare a Vasto Marina in Abruzzo Funeral homes may not require customers to buy certain funeral goods and services as a condition for receiving other funeral goods and services. Use our visualizations to explore scam and fraud trends in your state based on reports from consumers like you. A person who rents lots in a mobile home park. A) Limited partners must register with the FREC under the limited partnership name. Which document must a prospective buyer of an existing (resale) condominium unit receive? Which individual is exempt from licensure under Florida Statute 475? XML overcomes the limitations of hypertext markup language (HTML) and represents an important opportunity to solve the problem of protecting information distributed on the Web, with the definition of access restrictions directly on the structure and content of the document. The Florida Building Energy-Efficiency Rating Act does NOT require A) the seller, at the seller's expense, to conduct an energy-efficiency rating of the structure prior to closing. Looking for legal documents or records? B) The loan applicant can sue the credit union for violating the Fair Housing laws.
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