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10 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Buyer c has been unable to obtain financing to purchase seller d's property. Since the property is unencumbered and seller d wants to facilitate the sae, d offers to finance part of the purchase price buyer c will give seller d a. |
Purchase money mortgage |
A wraparound mortgage wraps a new loan around an existing loan. A blanket mortgage encumber more than one property; and the open-ended mortgage is a line of credit. |
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In certain circumstances, a loaner may have the right to collect an additional specific amount when a loan is paid off before the end of its term. To determine if a lender has the authority, one would read the. |
Prepayment clause |
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A benefit of seller financing is the buyer and seller can avoid paying |
Discount points and loan origination fees. |
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A method of financing in which regular payments are made by the mortgage to the mortgagor is. |
Reverse annuity mortgage |
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Which is not a protected class under the federal fair housing law |
Marital status |
Marital status is a protected class under colorado far housing along with creed and ancestry. |
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What happens if the seller does not sign or reject the buyers offer, but in initials the offer |
The offer is countered |
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Which of the following is not required to maintain a current errors and omission insurance policy |
An inactive real estate broker |
An inactive real estate broker does not have to maintain errors and omission insurance policy, but an inactive licensee and an active mortgage broker would. |
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Having found a licensee guilty if violation of license law, a rule or regulation, the real estate commission cannot do which of the following |
Bring criminal charges against the licensee |
The real estate commission can turn evidence over to the attorney generals office but cannot bring about civil or criminal charges against the licensee. |
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An unlicensed person assistant may do all of the following, except |
Negotiate the purchase price |
Negotiating for other for a fee requires a license. |
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Which of the following is not an approved listi g agreement form. However it is not illegal. |
Net listing |
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