Memphis, TN Real Estate News

By David Saks
((retired))
                                                          #2352 What is traditionally considered to be the last step in a real estate transaction ? Take your time. The solution is posted below the wildlife photo.   A. The closing Closing is generally considered to be the last thing that takes place in any real estate transaction. All monies are excvhanged, title transfer takes place and the deed is handed over. Another term for closing is escrow or 'going to settlement'.
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By David Saks
((retired))
                                                            #2351 When a slaeperson is acting as an employee and is not acting as an independent contractor that salesperson has the right to advertise property under their own name. Is this true or false ? Take your time. The solution is posted below the wildlife photo. A. False If the salseperson is an employee of the brokerage the salesperson may not advertise property in their own name. The salesperson has an obligation to recognize any responsibilities that may be assigned by the principal broker of the brokerage of which the salesperson is employed.
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By David Saks
((retired))
Here's a collection of smooth sounds. A blast for the past that'll make you want to Bossa Nova at your desk. Urbie Green & 21 Trombones Urbie turned 87 years old August 8. And he's still playing. Relax & Enjoy. Have a great day ! And my hopes for your continued success. -David-  
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  Ask yourself three questions.     What aspect of real estate is recovering ? What's not ? What's lost forever ?   Click the Wolf      
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By David Saks
((retired))
                                                                #2350 A broker has the right to exercise the decision to control the number of hours an independent contractor would have to work in addition to the work schedule that the independent contractor would be required to comply with. Is this true or false ? A. False The broker would have not have the right to dictate the number of hours the independent contractor has to work, nor their work schedule. The broker could control the amount of compensation the independent contractor would receive.  
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By David Saks
((retired))
                                                     #2349 When a real estate salesperson is paid in a lump sum by the broker or their employer and that same licensee or salesperson is responsible for paying their own taxes, we refer to this person as an employee. Is this true or false. Remember to take your time. The answer is posted below the wildlife photo. A. False. If the agent / salesperson is responsible for paying their own taxes we refer to them as an independent contractor.
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By David Saks
((retired))
                                                          #2348 A buyer became a client of a broker and decided that he wanted to purchase a house that the broker has listed with his company. It's not ok for the broker to show the buyer / client the house that he has listed for sale. True or false ? Take your time. The solution is posted below the wildlife photo. A. False It is ok for the broker to show the house to the buyer / client, but both the buyer and the seller have to be made aware of what's going on and agree to allow the broker to represent both of them in writing.
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By David Saks
((retired))
                                                             #2347 When a real estate broker is hired by someone to sell their home the broker has an obligation to comply with the directions of any interested buyer. Is this true of false ? Take your time. The solution is posted below the wioldlife photo. A. Absolutely false. The real estate broker hired by the seller is only required to recognize and comply with all of the lawful instructions of the owner / seller.
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By David Saks
((retired))
                                                      #2346 When we speak of confidentiality we consider it to be part of the fiduciary duty of care from the five common-law  fiduciary duties of care, obedience, accounting, loyalty and disclosure. True or false ? Please take your time. The solution is posted below the wildlife photo. A. False Confidentiality is a characteristic of the fiduciary duty of loyalty.
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By David Saks
((retired))
                                                               #2345 The owner decides to abandon the property he has listed with a brokerage. This will terminate the relationship that the broker has with the owner. True or false ? Take your time. The solution is posted below the wildlife photo. A. False  Abandoning the property will not terminate a broker-seller agreement. If the seller / owner declares bankruptcy the relationship could be terminated.
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By David Saks
((retired))
                                                               #2344 When a real estate broker acts as the agent for the seller the broker has an obligation to disclose confidential information about the seller to the buyer if it helps the chances of closing the deal. True or false ? Take your time. The solution is posted below the wildlife photo. A. False When a real estate broker is acting on belhalf of a seller the broker has an obligation to remain faithful to the interests of the seller. Disclosing confidential information in order to gain procurement of a sale is inappropriate.
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By David Saks
((retired))
                                                            #2343 In a real estate transactionn, when one speaks of a fiduciary relationship their typically referring to a relationship that will allow another person to act on behalf of another with the additional privilege and grant of legal power for the other persons affairs. Is this true or false ? Take your time. The solution is below the wildlife photograph. A. False A fiduciary relationship is one which represents an agents reloationship to the principal or the one that hires the agent.  
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By David Saks
((retired))
                                                            #2342 A house was built on top a pile of manure. The ceilings of the home we're also poorly constructed and poorly attached to any supporting members or beams. This would be considerd an example of a stigmatized property ? True or false ? A. False If the house was constructed on top of a pile of manure and the ceiling construction was garbage, this would be considered an example of latent defects in the property.
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By David Saks
((retired))
                                                      #2341 A buyer inquired as to whether or not a city landfill was going to be constructed on an adjacent lot in a new subdivision. The seller's agent replied that she didn't know even though the agent was fully aware of the fact and failed to disclose this to the prospective buyer. If the seller's agent had disclosed this fact to the potential; buyer it would have been considerd to be representative of an uneccessary disclosure. True or false ? A. False Failure to disclose the fact that a new city landfill is going to be constructed on the adjacent property is an example of fraudulent misrepresentation.
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  Tell Me, Is This Any Way to Sell a House ? Agent Mark Mason takes his viewers on a tour of a beautiful home, but with some added extra surprises !   Let's Hear From You On This One ! Especially From the Gals ! Some of the Guys Might Consider This the Ultimate Virtual Tour ! Some Might Not !  
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Here's One From Tommy Dorsey Recorded in 1937 Oscar Hammerstein's and Otto Harbach's "Who ?" Hope This One Gets You Through the Night With a Smile -David-
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By David Saks
((retired))
The kind of SNOB I'm talking about isn't the kind of SNOB that you'll see at Rigoletto. This type of SNOB is a Social Networking Object Bridge (SNOB) ( I coined the acronym) It keeps you connected to your social platforms with messages that reflect your activity.   SNOB's deliver the messages across social networks, i.e., Facebook, Twitter, InShare and Email, by connecting all of the accounts to the server and disseminating the information to all platforms simultaneously.   Lots of applications are surfacing that bridge social networks.   Facebook, Google, InShare and Twitter buttons are at the top of your blog queue. They're SNOB's.   Do SNOB's work for you ? Do SNOB's help you market your brokerage ? Are there other SNOB's that you would recommend ? What are your thoughts about SNOB's ?
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By David Saks
((retired))
                                                           #2340 A buyer paid $460,000 for the house. The lot was valued at $65,000. The mortgage was for $200,000. After all is said and done, how much equity does the homeowner have in the place ? A. $260,000 First of all, the value of the lot has nothing to do with the calculation, so let's hope you don't figure it with either a simple mathematical addition or subtractioin. Therefore, let's just subtract the value of the loan from the cost of the home (460k-200k) and we see that we've got $260,000 in equity in the house. Remember, the market value of the house minus the amount remaining on the mortgage is the equity. Or mv-dbt=equity.
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