Real Estate 4

When a real estate professional is representing a seller in a residential transaction, when should the property disclosures be made available?

As soon as practicable before accepting an offer

Your buyer client is following your advice and has obtained title insurance. The policy is from ______ and shows the legal description of the property and the standard items it covers, such as encumbrances of record.

California Land Title Association (CLTA)

The ______ was enacted in 2010 to create stricter regulation of the financial services industry to reduce costs for consumers from (for instance), undisclosed kickbacks.

Dodd-Frank Wall Street Reform and Consumer Protection Act

Jarod has obtained an FHA loan for which he pays an annual mortgage insurance premium. How will he likely make this payment?

He will pay 1/12 of it monthly with his mortgage payment.

Olivia purchased a property five years ago for $200,000. She put down $50,000 and financed $150,000. Today, the property is valued at $250,000. She'd like to purchase another property, so she refinanced her current property and used the equity to purchase a new property. Of what is this an example?

Pyramiding

Which of these transactions requires a selling broker to perform a reasonably competent visual inspection, according to California Civil Code Section 2079?

Sale of a four-bedroom ranch home

Ari owned acreage in a rural area. He sold a small portion of it to a neighbor in an informal transaction but made no record of the sale or change of ownership. A developer offered Ari several million dollars for the entire acreage, and Ari eagerly accepted the offer. What covenant is Ari in danger of violating?

Seisin

The Farm Credit System funds are acquired from ______.

The sale of debt securities and international money markets

Which one of the following is a substance found in air fresheners, cleansers, paint, and building materials that at high levels can make indoor air quality toxic?

VOCs