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). 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. The seller countered at $250,000. 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. Which solution is NOT a remedy for the breach of a real estate sale contract? 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? Risk. Homestead property is exempted from forced sale to satisfy judgement liens for debts owing to personal loans, CREDIT CARD DEBT, etc. Open listing allows the seller to list the property with multiple brokers. A) Seller and buyer both claim the earnest money deposit. Total = 14,500 + 3,000 = $17,500. NOI and Sale Price. Which type of window is the least energy efficient? You are appraising a four-year-old, single-family residence. C) The loan officer can be fined by the Department of Housing and Urban Development (HUD). Market is local in nature; 3. Division of Florida Condominiums, Timeshares, and Mobile Homes is charged with providing complaint resolution for HOAs. 34,840 / .12 = $290,250 max purchase price. Calculate the proration and indicate who is debited and who is credited. Florida's telemarketing law became invalid when federal telemarketing laws were implemented. CBS vs. CIA 950 / 30 = 31.67 x 20 = $633.33 "Work surface" Relying on an embodiment disclosed in the specification, the defendant contended that the scope of "work surface . The earnest money deposit normally appears on the closing statement as a. The covenant of warranty forever is included in which type of statutory deed? The Federal Communications Commission (FCC) enforces the Telephone Consumer Protection Act (TCPA), which also regulates telemarketing. Is this transaction covered under Truth in Lending Act? Search the Legal Library instead. (Round answer to nearest dollar. (1) by the person or entity providing a wire or electronic communications service; (2) by a user of that service with respect to a communication of or intended for that user; or (3) in section 2703, 2704 or 2518 of this title. A duplex is scheduled to close on September 10. 1. Which business would be classified as a service industry? A brokerage firm represents a seller as a single agent. A) The loan officer has three business days to give the loan applicant a copy of the information booklet. Index plus Margin equals Calculated Interest Payment on an ARM, Ginnie Mae (GNMA) serves as a guarantor of mortgage-backed securities. Includes: allows a sales associate or broker associate employed by an owner-developer to sell property for all the affiliated entities owned by the developer. Good Faith Estimate (GFE) Within how many days must a landlord notify a tenant of intentions to claim part of the security deposit? When a loan is paid off in a lien theory state, which instrument should the lender prepare and give to the borrower? 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 . Which statement is TRUE regarding Florida's telemarketing law? The company's phone number is 222-1010. The Georgia licensee. Option Contracts deliver the deposit check to the employer by the end of business on Thursday. Which statement is TRUE regarding the federal telemarketing law? EGI - OPEX = NOI The day after signing the sale contract and reviewing the condominium documents, the buyers notify the broker that they want to cancel the contract. Federally related transactions do not include transactions associated with refinancing real property. On the first of the month, the seller collected total rent for September amounting to $950. 30 Days - if landlord is making a claim on the deposit, the landlord has 30 days to notify the tenant of the claim. 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. 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. A developer advertises homes for sale with a total down payment of $2,000. What is the final step in the real estate sale process? 52,000 - 95.36 = 51,904.64 Why do many second-generation Korean-American mothers, who often have negative memories of growing up under strict, intensive, achievement-oriented "tiger mothering"a term popularized by Amy Chua's bestselling Battle Hymn of the Tiger Mother (Chua 2011)reproduce certain aspects of this parenting style in raising their own children? D) Limited partners may participate in management activities of the limited partnership. 414.94 - 319.58 = 95.36 Which individual is exempt from licensure under Florida Statute 475? Listing Agreements for a term longer than 1 year. Complaint resolution for homeowner associations is provided by which division of Florida government? A couple are interested in purchasing residential investment property, and they have informed their sales associate that they want limited representation but do not want to be legally held responsible for the acts of a licensee. RESPA disclosures at time of loan or within 3 business days of: 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. The Georgia licensee. The tenant has what type of lease? 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. The procedures instituted must meet the following minimum standards: (1) Written policy. Ann. Ann. Less than $50,000 = $25,000 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. Reproduction cost: Restrictions on telemarketing to Florida residents are about to get tighter. 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? A) The real estate licensee is eligible to make a claim for recovery from the fund, because the licensee acted in the capacity of a buyer. Annual Gross: 450,000 - 350,000 = 100,000 x .03 = $3,000 414.94 - 319.21 = 95.94 principal amount for month 2. Which type of depreciation is associated with inefficient architectural design? The overall capitalization rate (OAR) is determined by analyzing which two components of similar properties in the subject property's market area? 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. 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. Civil Rights Act of 1866 prohibits any type of discrimination based on race in any real estate transaction (sale or rental) without exception. Interest on Home Equity The site is secure. C) The real estate licensee must show that the license was active at the time the transaction was entered into. 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. Call Lynn Amherst, Excel Realty 333-2020 (cell). (page 176). (2) Training of personnel engaged in telemarketing. Which individual is exempt from licensure under Florida Statute 475? Deed is considered voluntary because it's under the owner's control. D) The seller cannot now accept the original offer, because it was killed by the counteroffer. Within how many days must a licensee notify the Department of Business and Professional Regulation of a change in current mailing address? 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 Compared with the subject property, the comparable is built of superior materials ($20,000) and the comparable has more square footage ($25,000). Lynn is preparing a classified ad for a listed property. After the closing, the licensee discovered that the seller's broker had failed to disclose latent defects. A duplex is scheduled to close on September 10. The Florida Consumer Protection Law is located at Fla. Stat. Municipal Airport - immune properties are city, county, state and federal gov't properties - others are exempt only, which are subject to taxes, but are released from obligation, Local government can recover the cost of widening a street in an existing neighborhood by charging the neighborhood property owners a. The rental property has a negative cash flow of $11,000. 20-cv-10857, Judge Burroughs construed two disputed terms in a patent relating to a method of aligning a laser projector for projecting a laser image onto a work surface.. 1. The purpose of the Do Not Call registry is to give consumers a choice regarding telemarketing calls. We enforce federal competition and consumer protection laws that prevent anticompetitive, deceptive, and unfair business practices. The loan officer did not give the loan applicant a copy of the HUD information booklet concerning settlement costs at the time of loan application. The .gov means its official. A real estate broker has been hired to manage an apartment complex on behalf of the landlord. If you advertise online, remember the rules and guidelines that protect consumers also help businesses by maintaining the credibility of the Internet as a marketing medium. After the closing, the licensee discovered that the seller's broker had failed to disclose latent defects. The seller refuses to sign a release of the buyer's earnest money deposit and demands receipt of the deposit for himself. The Telephone Consumer Protection Act (TCPA) was passed in 1991 in response to consumer complaints of increased marketing calls and automated, pre-recorded messages. 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. What is the annual rent for the year if the annual gross sales are $450,000? D) Federally related transactions include transactions for the sale, lease, or purchase of real estate. 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? The Florida Real Estate Commission (FREC) issued a seven-year suspension of a broker's license. 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.
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