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On the Closure Disclosure form, homeowner's insurance and property taxes are classified as what? The Florida Real Estate Commission (FREC) has said an associate may be paid directly at closing if a broker instructs the closing agent (in a specific writing) to authorize direct payment. c) It is forbidden under any circumstances. a) Revision b) Reorder c) Rescission d) Refile. Mortgage recording fee 3) A contract which neither party can enforce is called. 9) Sellers Glen and Jill are closing on their home sale next week. which statement is true about accepting referral fees? A broker induces an owner to sell by telling him that . What to Know to Avoid RESPA and Real Estate Referral Lawsuits a) $431.62 b) $437.45 c) $1,662.55 d) $1,668.38, 12) Expenses that the seller incurred but have not yet been billed for at the time of closing are. Participating, non-participating, and opt-out providers Draw a scatterplot on your calculator comparing money raised and shirts sold. a) Amanda has illegally commingled the earnest money with her own money. holding or kickback funds. When should each be used? a) They can cancel the contract and get their earnest money refunded. 1) What is the underlying tenet of a contract agreement? PDF 10 Things REALTORS Should Know About License Law c) Sara can use a binder but not a sales contract. What type of loan might help Fred? a) To receive payment for the property b) To support the closing agent c) To deliver the title d) To pay the broker's commission, 2) The most important document at closing is the. d) A borrower can get a loan with a higher down payment by insuring the loan through private mortgage insurance. c) 1 percent of the loan amount. 5) What is the purpose of the Statute of Frauds? Frank Douglas, CFA and Carl Sheen, CFA are researching the coal mining industry in Australia. If a seller prepaid the taxes of $2,100 and the closing is set for March 15, using the 12month/30 day method what will the buyer owe the seller as prorated taxes? The real estate transaction involves a federally related mortgage loan, and; B. indigo flight from kolkata to delhi; designated agency disclosure; battlefield 2042 new maps 2022. southern enterprises coffee table; closetmaid shelf wood Project risks can/cannot be eliminated if the project is carefully planned. PDF Real Estate Settlement Procedures Act FAQs That continues to be the case, with understanding of the terms . Standard VI (C) states the responsibility of members and candidates to inform their employer, clients, and prospective clients of any benefit received for referrals of customers and clients. b) The first seller may sue the buyer for specific performance. a) It is common business practice. TRID requires a lender to give a Loan Estimate and a copy of the booklet "Your home loan toolkit" to an applicant within what timeframe? We gathered some employee referral program examples and bonus ideas that you can use to motivate your coworkers and reward them for their quality referrals.