A) The seller can revoke her counteroffer and accept the buyer's original offer up until the time the buyer rejects the counteroffer. The tenant has what type of lease? The Georgia licensee. Management; 5. These opinions are issued, pursuant to Rules 1.1 - 1.4 of the Commission's Rules of Practice, 16 C.F.R. Mortgage origination fees (points) Ann. 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. On the first of the month, the seller collected total rent for September amounting to $950. C) The seller has breached the buyer's contract, and the buyer can sue to force the seller to take a lower price. 5 /25 x 135,000 = 27,000 accrued depreciation. $276,060 total. deliver the deposit check to the employer by the end of business on Thursday. Ginnie Mae (GNMA) serves as a guarantor of mortgage-backed securities. Which business would be classified as a service industry? The loan officer has three business days to give the loan applicant a copy of the information booklet. B) the creation of a uniform, statewide energy-efficiency rating system. Which business would be classified as a service industry? Good Faith Estimate (GFE) A gross lease is a lease in which the tenant agrees to pay a fixed rental amount, and the landlord pays all expenses related to the property such as real estate taxes, insurance, and maintenance costs. Index plus Margin equals Calculated Interest Payment on an ARM. Use the actual number of days in the closing month when determining the time line. Lynn's home phone number is 333-2020. FL law does not require that prospective buyers and seller be represented. False - All VA mortgage loans contain a due on sale clause. Which statement regarding a limited real estate partnership is TRUE? A buyer has applied for a 20-year mortgage of $52,000 at 7 3/8 percent interest. Which statement is TRUE regarding this situation? The applicant has not fulfilled the experience requirement. This arrangement is, illegal, because the amount of compensation exceeds the allowable amount. 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? Option Contracts 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. (page 267). The Florida Building Energy-Efficiency Rating Act does NOT require. A township has 36 parcels called "sections." 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. A court may award up to three times that amount for a willful or knowing violation. Lynn's home phone number is 333-2020. You can submit your application to register your company with Working Advantage to get your employees access to a wide variety of everyday savings: home office supplies, streaming services, food delivery, educational programs, automotive, gifts, health and wellness, plus the top offers in travel and entertainment. Many of these lawsuits seem outrageously frivolous, while others deal with incredibly serious matters. 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. 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)? How must the broker as agent handle the security deposits and advance rent? The TCPA restricts telephone solicitations (i.e., telemarketing) and the use of automated telephone equipment. Calculate the proration and indicate who is debited and who is credited. Which statement is TRUE regarding a title company holding the escrow funds? Real estate licensees may contact their former customers for up to 18 months. 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 . A) Federally related transactions require an appraisal. A Poisson distribution might be a good approximation for which of the following? A qualified buyer offers to pay the $2,000 down, but the developer states that the $2,000 down homes are all sold. 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. Range 1 West is located immediately west of the principal meridian and base line. The FTC's Telemarketing Sales Rule helps protect consumers from fraudulent telemarketing calls and gives them certain protections under the National Do Not Call Registry. required by Florida law to verify that license applicants are current on child support payments. Which statement applies to this situation? The RE licensee is not eligible to make a claim against the Real Estate Recovery Fund. Telemarketing involves situations in which companies call consumers to sell their goods or services, or consumers call companies to make purchases in response to mailings or other forms of advertising. Civil Rights Act of 1866 prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception. Persons or entities making calls for telemarketing purposes must have a written policy, available upon demand, for maintaining a do-not-call list. Which statement is TRUE regarding this situation? The landlord pays the property taxes, hazard insurance, and maintenance expenses. Deed is considered voluntary because it's under the owner's control. How many members of the Florida Real Estate Commission must be consumer members who have never been real estate brokers or sales associates? Savings associations can sell existing mortgage loans to which entity? Which statement is TRUE? Prohibits telemarketers from calling Arizona residents between the hours of 9 p.m. and. The Georgia licensee. Which requirement is one of the elements of a valid real estate contract? tenants and buyers of all residential property built before 1978. 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. illegal, because the amount of compensation exceeds the allowable amount. Functional Obsolescence - operational inadequacies, poor design, or changing tastes and preferences. 227. NOI and Sale Price. Which amendment to the Florida constitution limits how much the assessed value of homesteaded property can increase in a given year? tenants and buyers of all residential property built before 1978. Which request should be made by the broker's attorney so that the broker can continue to work during the appeal process? 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 broker is NOT required by law to notify the FREC of conflicting demands in which situation? 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. A buyer has applied for a 20-year mortgage of $52,000 at 7 3/8 percent interest. A buyer and seller enter into a contract for sale and purchase of a home. Comp According to the contract for sale and purchase, the buyer is due the rental income for the day of closing. She requests a Florida sales associate license based on mutual recognition. A written contract for sale and purchase of commercial property that used designated sales associates failed to close. B) The Department of Veterans Affairs partially guarantees VA mortgage loans. The brokerage can work with the buyer, in the same transaction. Use the actual number of days in the closing month when determining the time line. Business Combination Agreement and Plan Of Reorganization, dated February 24, 2023 from Oxbridge Acquisition Corp. filed with the Securities and Exchange Commission. The Internet connects marketers to customers across the country and around the world. The broker decides to appeal FREC's final order. Contract to purchase a shopping center (page 58). Branch office of a bank is a service industry that services primarily local residents. The proposed guideline revisions would state that "in procuring, suppressing, boosting, organizing, or editing consumer reviews of their products, advertisers should not take actions that have the. Lynn is preparing a classified ad for a listed property. Many states also have laws regulating telemarketing. PGI - V&C = EGI Transaction Broker - in a transaction broker relationship the buyer or seller is not responsible for the acts of a licensee. Complaint resolution for homeowner associations is provided by which division of Florida government? The contract is contingent on a radon test. 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. Which law prohibits racial discrimination in the sale or lease of all real property without exception? The covenant of warranty forever is included in which type of statutory deed? How must the broker as agent handle the security deposits and advance rent? Which statement is TRUE? What is the total property tax exemption on her homesteaded property? which statement is true regarding the federal telemarketing law? Yes, because this is an example of bait-and-switch advertising, and it is illegal. C) tenants and buyers of all residential property built before 1978. A broker is NOT required by law to notify the FREC of conflicting demands in which 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. (no more than $50 to an unlicensed person who is a tenant of the apartment complex for the referral fee - page 95). TILA/Reg Z makes "Bait and Switch" advertising a federal offense. 30 Days - if landlord is making a claim on the deposit, the landlord has 30 days to notify the tenant of the claim. An apartment building produces an effective annual gross income of $71,820. What is the total property tax exemption on her homesteaded property? They have created which type of estate or tenancy? C) Limited partners are personally liable for the debts of the partnership. This arrangement is. 501.001 and following, and includes the Florida Telemarketing Act at Fla. Stat. It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. 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). On February 17, the Justice Department, together with the Federal Trade Commission (FTC), announced a civil enforcement action against several corporate and individual defendants for alleged violations of the FTC Act and the Telemarketing Sales Rule (TSR) in connection with telemarketing campaigns that have involved millions of illegal robocalls. If your lot frontage on the street is 90 feet, what is your portion of the special assessment? Deed is the written instrument to convey an interest in real property. The lender's policy protects the lender against title defects. If your lot frontage on the street is 90 feet, what is your portion of the special assessment? We work to advance government policies that protect consumers and promote competition. The seller told her broker that she was revoking the counteroffer and accepting the buyer's original offer. A complaint legally sufficient if it contains facts indicating that a violation of any of the following has occurred. The Telephone Consumer Protection Act (TCPA) was passed in 1991 in response to consumer complaints of increased marketing calls and automated, pre-recorded messages. Memo from Chair Lina M. Khan to commission staff and commissioners regarding the vision and priorities for the FTC. writing bad checks, crimes of larceny). FL law does not require that prospective buyers and seller be represented. [1] Certain callers are required by federal law to respect this request. 485 x 76 = 36,860 Market is local in nature; 3. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securitie The brokerage relationship disclosure requirements in Chapter 475, Florida Statutes, do NOT apply to which transaction? The street in front of your house is to be paved at a cost of $45 per foot. Since seller hasn't received the money, it's not shown on the seller's statement. Interest on Home Equity The AVAILABILITY OF BUILDING MATERIALS INFLUENCES DEMAND is FALSE - has to do with supply. Federally related transactions do not include transactions associated with refinancing real property. The term used to measure the amount of energy an electrical appliance consumes is. A real estate broker has been hired to manage an apartment complex on behalf of the landlord. Which brokerage relationship is BEST suited to this couple? 34,840 / .12 = $290,250 max purchase price. Which type of depreciation is associated with inefficient architectural design? 3. Citations involve fines that currently range from $100 to $500 per offense and may include other assessments (ex: REQUIRE EDUCATIONAL COURSE ATTENDANCE), If the licensee-respondent disputes the alleged facts noted in the complaint, the licensee-respondent's case must be heard by an administrative judge in a FORMAL HEARING (PAGE 118). A sales associate receives a deposit from a buyer on Wednesday morning. The licensee sued the seller's broker and was awarded a judgment. 2. refinancing of real property or interests in real property Which individual is exempt from licensure under Florida Statute 475? Which statement is TRUE regarding comparative market analyses (CMAs)? B) tenants and buyers of all residential property. Section 31 would be located in which corner? A building is valued at $135,000 with an estimated 25-year useful economic life. The assessed value of an 88-year-old legally blind widow's condominium is $49,500. Annual Gross: 450,000 - 350,000 = 100,000 x .03 = $3,000 The day after signing the sale contract and reviewing the condominium documents, the buyers notify the broker that they want to cancel the contract. Which statement is TRUE regarding this property? Tenancy in Common (no right of survivor ship, heirs inherit), Remainderman - 3rd party fee simple ownership at end of life estate by wife. b. self-serving bias e. social categorization, Briefly explain the importance of each of the following. 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. 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. 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. It amended the Communications Act of 1934.The TCPA is codified as 47 U.S.C. In 1992, the Commission adopted rules to implement the TCPA. Homestead property is exempted from forced sale to satisfy judgement liens for debts owing to personal loans, CREDIT CARD DEBT, etc. 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) the others are remedies for a breach in contract. SUBCHAPTER IICOMMON CARRIERS Part ICommon Carrier Regulation 201. The rental property has a negative cash flow of $11,000. SB 1120, which went into effect July 1, 2021, imposes significant additional restrictions (and additional penalties for violations) on businesses making calls to Florida residents or Florida area. Runners crossing the finish line in the Boston Marathon. A buyer offered $225,000 for a seller's property. The day after signing the sale contract and reviewing the condominium documents, the buyers notify the broker that they want to cancel the contract. 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. Calculate the proration and indicate who is debited and who is credited. The broker must retain the disclosure documents for five years even if a nonresidential transaction that used designated sales associates fails to close. The seller cannot now accept the original offer, because it was killed by the counteroffer. The licensee was unable to collect on the judgment and is considering submitting a claim to the Real Estate Recovery Fund. (2) Training of personnel engaged in telemarketing. It does not require the seller, at the seller's expense to conduct and energy efficiency rating of the structure prior to closing. D) Principal payments remain constant while interest payments increase. Seller refuses to sign the release of escrow funds. Calculate the reproduction cost new of the structure. What is the adjusted sale price of the comparable? Which statement is FALSE? 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 PSA The seller told her broker that she was revoking the counteroffer and accepting the buyer's original offer. Search the Legal Library instead. allows a sales associate or broker associate employed by an owner-developer to sell property for all the affiliated entities owned by the developer. Which document must be given to prospective purchasers only if purchasing a condo from a developer of 20 or more new residential condominium units? What is the annual IRS depreciation deduction? Which statement is TRUE regarding the federal telemarketing law? And some rules can even vary within a state. Which statement is TRUE? 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. (page 247). The brothers want their interest in the property to go to their spouses in the event of their deaths. D) Real estate licensees are exempt from the telemarketing laws. 51,904.64 x .07375 = 3,830.56 / 12 = 319.21 B) The day after signing the sale contract and reviewing the condominium documents, the buyers notify the broker that they want to cancel the contract. Statutes change, so checking them is always a good idea. 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. Open listing allows the seller to list the property with multiple brokers. Stay of Enforcement, if granted, stops the enforcement of a suspension or revocation in the final order pending the outcome of the appeal process. The associate continues to be employed by the same broker, who has an office in Atlanta. Vendor's Lien - equitable lien of the grantor (seller under a PMM) on the land conveyed in the amount of the unpaid purchase price, The right of the state to take property of a person who died intestate and without heirs is known as. Calculate the reproduction cost new of the structure. Which type of window is the least energy efficient? How much of the $414.94 monthly payment paid in month two will apply to principal? Which statement applies to this situation? The constitutional homestead law protects real property from forced sale to satisfy which type of delinquent debt? Which list of appraisal methods is unique to the appraisal of business enterprises? The associate must, An owner of an apartment complex pays $100 to each tenant who refers a person who becomes a tenant. is exempt from the sales associate course; however, she must pass a written Florida-specific real estate law exam. 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. Online Advertising and Marketing. The TCPA restricts the making of telemarketing calls and the use of automatic telephone dialing systems and artificial or prerecorded voice messages. Which excerpt conforms to the rule regarding advertising? The garage is 485 square feet. Which type of listing allows the seller to list the property with other brokers? 3.5% is the minimum down payment on a FHA loan. Total is 60 Acres. Standard Message & data rates may apply. 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. Base: 14,500 If you prefer to file your comment on paper, mail your comment to the following address: Federal Trade Commission, Office of the Secretary, 600 Pennsylvania Avenue NW, Suite CC-5610 (Annex B), Washington, DC 20580. The stepson's interest is that of. Call Lynn Amherst, Excel Realty 333-2020 (cell). Using the lump-sum age-life method, find the depreciated value of the building. Licensees must notify the DBPR in writing within 10 days of a change in current mailing address. Which statement is TRUE regarding the federal telemarketing law? Division of Florida Condominiums, Timeshares, and Mobile Homes is charged with providing complaint resolution for HOAs. The licensee was unable to collect on the judgment and is considering submitting a claim to the Real Estate Recovery Fund. Which solution is NOT a remedy for the breach of a real estate sale contract? (page 176). Funeral homes may not require customers to buy certain funeral goods and services as a condition for receiving other funeral goods and services. RE R V RE EVERE E R Vol. The city has agreed to pay 25 percent of the paving cost and will assess abutting properties for the remainder. You are appraising a four-year-old, single-family residence. 50 / 100. Which statement MOST accurately describes the first year of a 30-year level-payment, fixed rate mortgage? Better The settlement benefits consumers who received one or more prerecorded voice messages regarding Connected Investors' goods and services between April 28, 2017, and Sept. 26, 2022. Which document must a prospective buyer of an existing (resale) condominium unit receive? 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. Deed is the written instrument to convey an interest in real property. A lease calls for annual minimum rent of $14,500 plus 3 percent of annual gross sales in excess of $350,000. astros vs yankees cheating. Which entity is a guarantor of mortgage-back securities? An owner of an apartment complex pays $100 to each tenant who refers a person who becomes a tenant. Florida's telemarketing law became invalid when federal telemarketing laws were implemented. An EARNEST MONEY DEPOSIT is desirable to protect the seller, but it's not required to make a contract valid. 156) Which law prohibits racial discrimination in the sale or lease of all real property without exception? The tenant has what type of lease? Licensees must notify the DBPR in writing within 10 days of a change in current mailing address. A) This is a violation of the Civil RIghts Act of 1866 B) This is a violation of the Title VIII of the Civil Rights Act of 1968 C) This is permissible under the FAir Housing Act D) This is permissible only if the church is registered as having exempt status with the DBPR C) (pg. Which individual is exempt from licensure under Florida Statute 475? 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. A sales associate moves from Jacksonville, Florida, to Atlanta, Georgia. The broker decides to appeal FREC's final order. Since seller hasn't received the money, it's not shown on the seller's statement. 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 earnest money deposit normally appears on the closing statement as a. The mortgagee's title insurance policy is ISSUED FOR THE AMOUNT OF THE MORTGAGE LOAN AND IS TRANSFERABLE. Three brothers join together to purchase property. State law (CGS 42-288a) requires DCP to establish and maintain a listing of consumers who do not wish to receive unsolicited telephone sales calls from firms offering goods or services. Call Us Today! According to the contract for sale and purchase, the buyer is due the rental income for the day of closing. 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? writing bad checks, crimes of larceny). Index plus Margin equals Calculated Interest Payment on an ARM, Ginnie Mae (GNMA) serves as a guarantor of mortgage-backed securities. Within ten business days after the deposit is due under the sale contract, the broker . Which of the following is an accurate statement regarding the Federal Trade Commission (FTC) and the consumer protection laws related to funeral home services? 633.33 debited to seller and credited to buyer. The buyer did not accept the seller's counteroffer. B) Federally related transactions do not include transactions associated with refinancing real property. The total square footage of the livable area is 2,600.