Within how many days must a landlord notify a tenant of intentions to claim part of the security deposit? Which item would be classified as a fixed expense in the calculation of net operating income? Servicing disclosure statement. 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. At resale, buyer entitled to copy of declaration of condominium, articles of incorporation, bylaws, rules of assoc, FAQ, copy of most recent year end financial statement and GOVERNANCE FORM. Listed here are some FTC laws about specific marketing practices and the promotion of products and services in specific industries. A) Claim against the Real Estate Recovery Fund B) Suit for compensatory damages C) Suit for specific performance D) Provision for liquidated damages, Claim against the RE Recovery Fund is for a result of license law violations by a licensee ($50k per transaction and mo more than $150K against on licensee involved in mult transactions, PAGE 129). Which type of window is the least energy efficient? AN ACT RELATIVE TO RESTRUCTURING THE ELECTRIC UTILITY INDUSTRY IN THE COMMONWEALTH, REGULATING THE PROVISION OF ELECTRICITY AND OTHER SERVICES, AND PROMOTING ENHANCED CONSUMER PROTECTIONS. Federally-related transaction includes: Legally Blind: $500 Calculate the reproduction cost new of the structure. Which request should be made by the broker's attorney so that the broker can continue to work during the appeal process? The earnest money deposit normally appears on the closing statement as a. b. The seller countered at $250,000. According to figures obtained from a cost-estimating service, the base construction cost per square foot of livable area is $92, and $76 per square foot for the garage. Therefore, debited to seller and credited to buyer. B) Every general partner in a limited real estate partnership who performs real estate services must hold a real estate broker license. Local government can recover the cost of widening a street in an existing neighborhood by charging the neighborhood property owners a. A person applies for a mortgage loan from a local credit union. The earnest money deposit normally appears on the closing statement as a. 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. 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. Using the lump-sum age-life method, find the depreciated value of the building. The sales associate must notify the DBPR in writing within 60 days regarding her change in residency. 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? Liquidation analysis, reproduction cost analysis, and income capitalization analysis (and comparable sales analysis). Call Lynn Amherst, Excel Realty 333-2020 (cell). The company's phone number is 222-1010. (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee - page 95). (page 362), Jalousie - window is almost impossible to seal; therefore, it's the lease energy efficient. Transaction Broker - in a transaction broker relationship the buyer or seller is not responsible for the acts of a licensee. Property taxes are paid in arrears - so seller has paid no taxes that month. which statement is true regarding the federal telemarketing law? 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? 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. A lead-based paint disclosure must be given to A) tenants and buyers of all rental property if a family member is younger than three. Ginnie Mae (GNMA) serves as a guarantor of mortgage-backed securities. The loan officer has three business days to give the loan applicant a copy of the information booklet. According to the contract for sale and purchase, the buyer is due the rental income for the day of closing. Prohibits telemarketers from calling Arizona residents between the hours of 9 p.m. and. The brothers want their interest in the property to go to their spouses in the event of their deaths. Which statement is TRUE regarding this situation? A) Real estate licensees may call all the for-sale-by-owner sellers in a community to solicit listings without regard to whether the homeowners are listed on the do-not-call registry. Mortgage interest A developer advertises homes for sale with a total down payment of $2,000. 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? Which statement is TRUE regarding the federal telemarketing law? Which business would be classified as a service industry? PSA writing bad checks, crimes of larceny). The developer sold the lots for $250 per front foot. C) Limited partners are personally liable for the debts of the partnership. D) The VA can make direct loans to veterans. Which document must be given to prospective purchasers only if purchasing a condo from a developer of 20 or more new residential condominium units? 2. refinancing of real property or interests in real property Which statement is TRUE regarding this situation? Deeds and Mortgage Instruments 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 seller refuses to sign a release of the buyer's earnest money deposit and demands receipt of the deposit for himself. 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. applicable regarding financial, home, travel, health, and insurance products and services. Savings associations can sell existing mortgage loans to which entity? 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? Licensees must notify the DBPR in writing within 10 days of a change in current mailing address. Which statement is TRUE regarding this situation? The statement is TRUE. Listing Agreements for a term longer than 1 year. Which list of appraisal methods is unique to the appraisal of business enterprises? Management considerations is one of the disadvantages of investing in RE. 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? Call Us Today! Open All + A brokerage firm represents a seller as a single agent. Section 31 would be located in which corner? Yes, because this is an example of bait-and-switch advertising, and it is illegal. What is the annual rent for the year if the annual gross sales are $450,000? 30 Days - if landlord is making a claim on the deposit, the landlord has 30 days to notify the tenant of the claim. NOI = Cap Rate x Value (sale price) a) The name on the real estate brokerage firm for which the associate works must be printed on the key rings b) As long as the sales associate is paying the entire cost of the rings, he can put any wording on them he chooses. A buyer offered $225,000 for a seller's property. 52,000 - 95.36 = 51,904.64 Which statement concerning sections is FALSE? 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. Mass, direct, telemarketing, e-marketing, social media, billboards Personal selling: sales representatives directed to a customer in attempt to make a sale Can be modified, individualised, after-sales customer service Relationship marketing: development of long-term and cost-effective relationships with customers Which statement concerning Department of Veterans Affairs (VA) mortgage loans is FALSE? 3. use of real property or interests as a security for a loan or investment including mortgage-backed securities. The street in front of your house is to be paved at a cost of $45 per foot. 2,600 x 92 = 239,200 Lynn Amherst is a sales associate for Excel Realty. Which statement is FALSE concerning federally related transactions? Implement the comprehensive plan -local gov't exercise police power by regulating and controlling the use of land and structures within designated land-use district or zoned. According to the contract for sale and purchase, the buyer is due the rental income for the day of closing. A lead-based paint disclosure must be given to. This arrangement is, illegal, because the amount of compensation exceeds the allowable amount. Which document must be given to prospective purchasers only if purchasing a condo from a developer of 20 or more new residential condominium units? Which brokerage relationship is BEST suited to this couple? The law is enforced by the Office of the Attorney General. Which property is immune from property taxes? The law applies broadly to a "telephonic sales call." "Telephonic sales call" is currently defined as "a telephone call, text message, or voicemail transmission to a consumer for the purpose of soliciting a sale of any consumer goods or services, soliciting an extension of credit for consumer goods or services, or obtaining information that will Standard Message & data rates may apply. Reply 'Help' for help. (2) Training of personnel engaged in telemarketing. The rental property has a negative cash flow of $11,000. 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. Licensees must notify the DBPR in writing within 10 days of a change in current mailing address. UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORIDA FEDERAL TRADE COMMISSION, Plaintiff, V. JUSTIN RAMSEY, individually and as an officer of Data Guru LLC, Tailbone Security LLC, and Prime Marketing LLC, BRIAN OFFNER, individually and as an officer of Data Guru LLC, Tailbone Security LLC, and Leading Apex LLC, CHRISTOPHER HERGHELEGIU, individually and as an officer of Data Guru LLC and . The seller cannot now accept the original offer, because it was killed by the counteroffer. Stay of Enforcement, if granted, stops the enforcement of a suspension or revocation in the final order pending the outcome of the appeal process. Informacin detallada del sitio web y la empresa: salvarani.com, +39522969177 SALVARANI | Agricultural spraying, components 12-24 Volt, compressors, test and calibration equipment, Componenti agricultura, compressori, calibratura e regolazione macchine irroratrici How many members of the Florida Real Estate Commission must be consumer members who have never been real estate brokers or sales associates? A court may award up to three times that amount for a willful or knowing violation. A township has 36 parcels called "sections." If your lot frontage on the street is 90 feet, what is your portion of the special assessment? [1] Certain callers are required by federal law to respect this request. 32, No.9 -FREEREE Advocate News Online: www.advocatenews.net OCATOCAT www.advocatenews.net Mayor announces he's leaving at end of year City councillors offer praise of Arrigo's tenure By Barbara Taormina M ayor Brian Arrigo jolted the city this week when he announced he will be stepping down from the Mayor's Office at the end of this term. An official website of the United States government. is exempt from the sales associate course; however, she must pass a written Florida-specific real estate law exam. Is the broker required to retain the brokerage relationship disclosure documents, and if so, for how long? The Division of Marketing Practices periodically issues informal staff advisory opinions in response to requests for interpretation of the Telemarketing Sales Rule. The land value is 20 percent of the total acquisition cost. Calculate the proration and indicate who is debited and who is credited. In an effort to address a growing number of telephone marketing calls, Congress enacted in 1991 the Telephone Consumer Protection Act (TCPA). Which statement MOST accurately describes the first year of a 30-year level-payment, fixed rate mortgage? A developer purchased two 145-front foot lots for $23,900 net each and divided them into three lots of equal front footage. Under the federal telemarketing law, a real estate licensee may A. call Sue for up to 3 months after she makes and inquiry about a house listed for sale. The assessed value of an 88-year-old legally blind widow's condominium is $49,500. A licensee who is issued a citation may be ordered to, If a licensee/respondent disputes any of the allegations outlined in the administrative complaint, the case must be heard in, When a consumer files a complaint against a real estate licensee that contains facts indicating that a violation of rules of the Florida Real Estate Commission has occurred, the complaint is said to be. Which statement is TRUE? Which type of depreciation is associated with inefficient architectural design? Use the actual number of days in the closing month when determining the time line. D) Buyer finds another property at a lower price and demands a refund of the earnest money deposit. A satisfaction of mortgage is given by the lender to the borrower when the loan is paid off, must be sent to mortgagor within 60 days. A real estate licensee purchased a home from the seller. The broker must retain the disclosure documents for five years even if a nonresidential transaction that used designated sales associates fails to close. Business Combination Agreement and Plan Of Reorganization, dated February 24, 2023 from Oxbridge Acquisition Corp. filed with the Securities and Exchange Commission. Which statement is TRUE regarding comparative market analyses (CMAs)? An apartment building produces an effective annual gross income of $71,820. These presidential actions can include executive orders, presidential memoranda, and proclamations. Range 1 West is located immediately west of the principal meridian and base line. Lynn is preparing a classified ad for a listed property. The street in front of your house is to be paved at a cost of $45 per foot. A local lender charged 4 percent interest plus 4 points on a conventional mortgage loan. Which statement is TRUE regarding this practice? tenants and buyers of all residential property built before 1978. 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 . The tenant has what type of lease? Which statement is TRUE regarding a title company holding the escrow funds? A buyer has applied for a 20-year mortgage of $52,000 at 7 3/8 percent interest. Within how many days must a landlord notify a tenant of intentions to claim part of the security deposit? Hazard Insurance is included as part of a fixed expense (also ppty taxes) Mortgage payments are not considered an opex because they are not directly associated with the maintenance and operation of the property. Total is 60 Acres. Which statement is TRUE regarding this property? The landlord pays the property taxes, hazard insurance, and maintenance expenses. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. This arrangement is. A local lender charged 4 percent interest plus 4 points on a conventional mortgage loan. Since seller hasn't received the money, it's not shown on the seller's statement. Federally related transactions do not include transactions associated with refinancing real property. Vendor's Lien - equitable lien of the grantor (seller under a PMM) on the land conveyed in the amount of the unpaid purchase price. She requests a Florida sales associate license based on mutual recognition. B) Real estate licensees may advertise their residential listings by faxing promotional flyers to a list of local businesses and hospitals that are on the do-not-call list. The Georgia licensee. Tax advantages of owning a home do NOT include A) deduction of hazard insurance expense on a principal residence. 145 x 2 = 290 Is this transaction covered under Truth in Lending Act? Exclusion from gain on sale of principal residence up to $250K for single person, $500K for married couple filing jointly. A tenant, unable to contact the landlord or the landlord's representative prior to the expiration of a written lease, continues to pay the rent and occupy the premises after the lease expired. The Internet connects marketers to customers across the country and around the world. What is the state's intangible tax on a new mortgage of $10,000? A real estate broker has been hired to manage an apartment complex on behalf of the landlord. A broker is NOT required by law to notify the FREC of conflicting demands in which situation? 24,700 / 47,800 = 52% profit. Real estate licensees may not represent a CMA as an appraisal. (PAGE 190), Which statement concerning sections is FALSE? Which expense is deducted to derive effective gross income? The covenant of warranty forever is included in which type of statutory deed? (page 219). On July 1, 2021, Florida enacted a comprehensive new telemarketing law that arguably goes beyond the federal Telephone Consumer Protection Act ("TCPA"). The RE licensee is not eligible to make a claim against the Real Estate Recovery Fund. Which type of listing allows the seller to list the property with other brokers? 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. An EARNEST MONEY DEPOSIT is desirable to protect the seller, but it's not required to make a contract valid. Real estate licensees may not represent a CMA as an appraisal. The broker decides to appeal FREC's final order. The RE licensee is not eligible to make a claim against the Real Estate Recovery Fund. A comparable property recently sold for $315,000. And some rules can even vary within a state. The associate continues to be employed by the same broker, who has an office in Atlanta. 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. The stepson's interest is that of. Use the actual number of days in the closing month when determining the time line. However, there is a law found in Section 365.1657, Florida Statutes, that prohibits sending an unsolicited advertisement by fax machine within the state. 950 / 30 = 31.67 x 20 = $633.33 The seller countered at $250,000. The brokerage can work with the buyer, in the same transaction, A sales associate receives a deposit from a buyer on Wednesday morning. D) penalty-free withdrawal from an IRA if the money is used as a down payment on a personal residence (first time home buyers only). It amended the Communications Act of 1934.The TCPA is codified as 47 U.S.C. Which lien is classified as a voluntary lien? Find the resources you need to understand how consumer protection law impacts your business. The applicant has met the requirements to become a licensed broker and is qualified to take the state license exam. A commercial tenant pays a fixed rent each month. How is the earnest money deposit entered on the closing statement? The broker decides to appeal FREC's final order. A closing is set for July 15. Vacancy and collection losses. Part 310: Telemarketing Sales Rule Fees; Final Rule Updating the Fees Charged to Entities Accessing the National Do Not Call Registry, 16 CFR Part 310: Telemarketing Sales Rule: Federal Register Notice Containing Notice of Proposed Rulemaking and Soliciting Public Comment on Proposed Amendments to the Rule, 16 CFR Part 310: Telemarketing Sales Rule: Federal Register Notice Containing Notice of Proposed Rulemaking and Soliciting Public Comment on Proposed Amendments to the Rule - Text Version, 16 CFR Part 310: Telemarketing Sales Rule Fees; Final Rule, 16 C.F.R. Section 31 would be located in which corner? Better 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. 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. Looking for legal documents or records? Nothing in the Florida Telemarketing Act or the Telephonic Sales Law prohibits sending advertisements by fax. B) tenants and buyers of all residential property. Which mortgage clause requires the lender to waive the right to a deficiency judgment against the borrower, relieving the borrower of personal liability to repay the loan? 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. A licensee may not earn credit for attending a FREC meeting if the licensee is on the legal agenda for disciplinary action. How must the broker as agent handle the security deposits and advance rent? Also, created a uniform statewide rating system for rating new and existing residential, commercial and public buildings. Which statement is TRUE regarding this situation? 3.5% is the minimum down payment on a FHA loan. The .gov means its official. Special Information Booklet (HUD) C) All VA mortgage loans contain a due on sale clause. 315,000 - 20,000 - 25,000 = 270,000. Using the lump-sum age-life method, find the depreciated value of the building. You are appraising a four-year-old, single-family residence. c. There are no federal laws that regulate This problem has been solved! 1.1 - 1.4, in response to questions of general public interest. For more information about the TCPA, contact the FCC at fcc.gov. (page 176). The building has an effective age of five years. The buyer did not accept the seller's counteroffer. Which statement is TRUE regarding the key rings? The assessed value of an 88-year-old legally blind widow's condominium is $49,500. Which statement is FALSE concerning federally related transactions? C. The applicant must apply for a broker license under mutual recognition. Which individual is exempt from licensure under Florida Statute 475? Lynn's home phone number is 333-2020. The radon test indicates a high level of radon gas in the home, and the buyer gives written notice to cancel the contract. Find legal resources and guidance to understand your business responsibilities and comply with the law. The TCPA restricts the making of telemarketing calls and the use of automatic telephone dialing systems and artificial or prerecorded voice messages. Under the statute of frauds, which element is required for contracts pertaining to the purchase and sale of real property (except for certain specific exceptions)? In addition, truth-in-advertising standards apply if . Yes, because this is an example of bait-and-switch advertising, and it is illegal. Which requirement is one of the elements of a valid real estate contract? Less than $50,000 = $25,000 The total square footage of the livable area is 2,600. Widow: $500 5 /25 x 135,000 = 27,000 accrued depreciation. Which individual is exempt from licensure under Florida Statute 475? The associate must, An owner of an apartment complex pays $100 to each tenant who refers a person who becomes a tenant. Calculate the developer's percentage of profit (round to nearest whole percentage point). The following is a robust set of proactive and reactive rules to fraud-proof and protect your good name. 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. 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 Which request should be made by the broker's attorney so that the broker can continue to work during the appeal process? What was the approximate yield on the loan? Contract to purchase a shopping center (page 58). The https:// ensures that you are connecting to the official website and that any information you provide is encrypted and transmitted securely. The contract is contingent on a radon test. Runners crossing the finish line in the Boston Marathon. They have created which type of estate or tenancy? An individual who repeatedly writes bad checks can be charged with. Illiquidity; 2. 5. Limited partners must register with the FREC under the limited partnership name. 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? A) The loan officer has three business days to give the loan applicant a copy of the information booklet. Restrictions on telemarketing to Florida residents are about to get tighter. A) Seller and buyer both claim the earnest money deposit. Place the funds in an interest-bearing account in a Florida bank and pay the tenant 5 percent interest (separate interest-bearing FL bank account and pay the tenant at least 75% of any annualized average interest rate or 5% per year simple interest - page 153). The Telemarketing Sales Rule, which requires telemarketers to make specific disclosures of material information; prohibits misrepresentations; sets limits on the times telemarketers may call consumers; prohibits calls to a consumer who has asked not to be called again; and sets payment restrictions for the sale of certain goods and services.
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