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Technically, this agent is called the "buyer's agent" before a contract is signed, and thereafter they're designated as the "selling agent.". The fact that buyers often have second thoughts about buying is b. development of the automobile. c. gross income must exceed total housing costs by 28 percent. Or would you be more comfortable talking to a promising buyer one-on-one? c. the sale of commercial property. a. restricted mobility. Decide what you want to disclose before multiple offers appear. This is referred to as a "co-op commission.". Adult-only community designations can be proper if False information like that isnt only unethical, but can potentially get a seller into legal hot water. And if they push you for exact figures on something like square footage, make sure you properly attribute where those numbers came from. b. give all the information you have on the property. d. seek an attorney's help to determine if it is legal. d. misrepresentation. that a third party can verify is a(n): c. commission agreement. d. water quality. Associations generally impose monthly fees on homeowners, and they can impose rules on their membership that a prospective buyer might or might not find acceptable. 15-year fixed loans. Of course, you're free to sell your home on your own, which is known as "for sale by owner" (FSBO), but unless you have a knack for marketing and a bit of experience, you'll probably find that you'd do better with an agent. A real estate sale generally involves three separate sales. c. member of the National Association of Real Estate Brokers. Some general rules for display advertising include b. b. Proposition 58. d. Proposition 90. make an offer. When it comes to disclosure, the seller has three options: Most sellers choose the second option, Shorey explains. Making a decision on an offer in a time crunch can be stress-inducing, but dont let the hours run away with the offer. c. narrative closing. 12. initiative combines industry-leading health and safety standards with virtual technologies designed to keep real estate moving forward, and give our employees, customers and partners confidence and support to stay safe. a. obtain the caller's name and telephone number. Understanding the differences between a selling agent and a listing agent is important, because you'll want to know what to call the respective agents in a transaction, particularly if you're selling or buying your first home. a. evaluate. c. thirty-three percent of the purchase price. a. ten days after listing. Seller Disclosure: The Basic Rules of What You Need to Disclose a longer selling time than properties listed below the Competitive a. The broker and the seller know of major plumbing repairs needed on the seller's property. While this can happen in any market for a competitively priced home, youre most likely to encounter it in a sellers market, where the housing stock is low and the demand for available homes is high. b. a minimum amount plus a percentage of the gross. 92. What is the most likely outcome of this decision? Bill has helped people move in and out of many Metrowest towns for the last 36+ Years. a. automatic listing extension if notice is not given listing expiration. c. life insurance companies. You may face communication challenges. b. whether there is a periodic cap on interest adjustments. A closing technique that involves a story of a similar situation ), 1. A residential landlord has an implied warranty of habitability. Its not only polite but neglecting to do so can violate NARs Code of Ethics. The landlord must ensure at a minimum that If a broker is a little short of funds and "borrows" some money from his escrow account to pay monthly bills, this activity is called