Nc post licensing 303 Study guides, Class notes & Summaries

Commercial purchase contract - vary widely, inspections or due diligent are key, no standard contract Commercial Due Diligence - Free look, no risk, determined by buyer and seller BPO-Broker Price Opinion Analysis - Contains a market analysis and derives value from capitalization rates Capitalization formula - I/R*V Value=NOI/Rate Potential Gross Income - Vacancy Collection losses Additional income Effective gross income - Operating expenses Net operating income - Debt servic...

303 NC POST LICENSING EXAM ACTUAL EXAM QUESTIONS AND CORRECT ANSWERS (ALREADY GRADED A+) | LATEST EDITION 2024 (JUST RELEASED)

Active & current real estate license - Required when assisting another for compensation in providing brokerage services. Unlicensed assistants MAY NOT - -Negotiate mgmt contracts -Prepare advertisements -Negotiate amounts of money -Determine deductions from deposits Unlicensed assistants MAY - -Accept applications -Complete & execute preprinted leases -Accept deposits & payments for delivery to BIC -Show properties & rental units -Place for rent signs Full broker who is NOT a BI...

303 NC POST LICENSING EXAM NEWEST 2024 ACTUAL EXAM 250 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A

A Licensee may not earn compensation when there license - VIP - ANSWERSis INACTIVE or EXPIRED A Licensee can receive compensation that was earned WHEN - VIPterm-0 - ANSWERSthe license was current and active even if inactive of expired after A BIC may NOT pay a licensee's ENTITY - ANSWERSunless the entity has a firm license. A Licensee can share commission with parties BUT - ANSWERS1) Must be in writing - as part of the agreement 2) Must be subject to Lender Approval in case of loans...

NC Post Licensing – 303 Questions and Answers 2024 A Licensee may not earn compensation when there license - VIP - Answer -is INACTIVE or EXPIRED A Licensee can receive compensation that was earned WHEN - VIPterm-0 - Answer -the license was current and active even if inactive of expired after A BIC may NOT pay a licensee's ENTITY - Answer -unless the entity has a firm license. A Licensee can share commission with parties BUT - Answer -1) Must be in writing - as part of the agreement 2...

Mary, a woman of color, has filed a fair housing complaint after suspecting her real estate agent was only showing her homes in communities that were primarily made up of minorities. After completing its investigation, HUD found reasonable cause to believe that discrimination occurred. What will happen next? - ANSWERSHUD will issue a charge of discrimination and will notify Mary, the complainant, of its determination. How can North Carolina landlords remove tenants who engage in illegal activ...

A Licensee may not earn compensation when there license - VIP - Answer-is INACTIVE or EXPIRED A Licensee can receive compensation that was earned WHEN - VIPterm-0 - Answer-the license was current and active even if inactive of expired after A BIC may NOT pay a licensee's ENTITY - Answer-unless the entity has a firm license. A Licensee can share commission with parties BUT - Answer-1) Must be in writing - as part of the agreement 2) Must be subject to Lender Approval in case of loans...

You will be presented with a series of scenarios. Indicate whether the activities performed are allowed (Deal) or not (No Deal). We will then walk through the scenarios together. An LLC homebuilder building in several subdivisions has W-2 employees in model homes in each subdivision who show available properties, discuss design options, answer consumers' questions, negotiate sales contracts, accept deposits, and otherwise service the transaction from beginning to end. - ANSWERSDeal The be...

NC Real Estate 2023 Exam Questions with All Correct Answers How do you activate your license? - ANSWER Affiliating with a BIC What do you need a license for? - ANSWER LLBEANS List Lease Buy Exchange Auciton Negotiate Sell (procure a ready, willing, or able buyer) What is the 3 prong test? - ANSWER To determine if you need a license. 1. LLBEANS 2. for others 3. for compensation Exemptions to needing a license - ANSWER 1. FSBO 2. Entity (LLC, Corp, Partnership...