NC Post Licensing 303 Study guides, Class notes & Summaries

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

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...

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

Commercial purchase contract - ANSWERSvary widely, inspections or due diligent are key, no standard contract Commercial Due Diligence - ANSWERSFree look, no risk, determined by buyer and seller BPO-Broker Price Opinion Analysis - ANSWERSContains a market analysis and derives value from capitalization rates Capitalization formula - ANSWERSI/R*V Value=NOI/Rate Potential Gross Income - ANSWERSVacancy Collection losses Additional income Effective gross income - ANSWERSOperating expe...

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...

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...

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...

A Licensee may not earn compensation when there license - VIP - is INACTIVE or EXPIRED A Licensee can receive compensation that was earned WHEN - VIPterm-0 - the license was current and active even if inactive of expired after A BIC may NOT pay a licensee's ENTITY - unless the entity has a firm license. A Licensee can share commission with parties BUT - 1) Must be in writing - as part of the agreement 2) Must be subject to Lender Approval in case of loans 3) Disclosed on the Clos...