ࡱ>  y|~,-  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~Root Entryb.@p!PerfectOffice_MAIN&'?PerfectOffice_OBJECTS,PPSummaryInformation(  !"#$%&()*+,-.012345789:;<=Oh+'Oh+'0h  0 <Dale Whitman:L Dale Whitman$25$C:\COREL\SUITE8\PROGRAMS\PRWIN8.EXE Original Slide Show2l ;"2[4Gf:KBackground1Background2Background TitleBullet ChartTextOrg ChartData ChartCombinationWPCXX81%}//$"3'XXXX,,,,5/ @1 9+/ @1 3 `!}/$//$/}WPCWPC'? ~ 23' !!l$$$|x|B"XXXX'33' >MiMMMPgdMM R1M~MR4QyR5Q $!#M#MF$%!(H^(`*&-5/2GWPC   2  I  .3    2  I  .3    2  I  .3      2  I  .3  '   '2  I  .3  ..2  A  .3  Mortgageloanapplication..2  A  .3  Appraisal&creditcheck..2  A  .3  Titleexamination..2  A  .3  Survey(ifneeded)..2  A  .3  Physicalinspection(s)..2  A  .3  Documentpreparation((2  I  .3  Ifthepropertyis income-producing(e.g.,anoffice,retail,orapartmentbuilding).......2  1  .3  someotheractivitieswillusuallyoccur:..2  A  .3  Deliveryofa rentrolltothebuyer...2  A  .3  Obtainingof estoppellettersfromthetenants...2  A  .3  Obtainingofatleasta Phase1"environmentalreportontheproperty.   2  I  .3    2  I  .3  (  (2  I  .3  AncillaryServiceProviders*:....2  1  .3  _______________*amountsareestimatesforatypicalresidentialsale..2  A  .3  Realestatebroker(6%)..2  A  .3  Titleinsurancecompany($1,000)..2  A  .3  0h..Mortgagelender( pointsor originationfee)..2  A  .3  Surveyor($250)..2  A  .3  0h..Creditreportingagency($60)..2  A  .3  0h..Appraiser($300)..2  A  .3  Physicalinspector(s)($300)..2  A  .3  0h..Escrow(closing)agent($250)..2  A  .3  Mortgageinsurance($1,000)( (2  I  .3  MortgageInsurance:..2  A  .3  Insuresthelenderagainstlossiftheborrowerdefaultsinpayment...2  A  .3  Allowstheborrowertogetahigherloan-to-valueratio(borrowmoremoney):....2  1  .3  WithoutMI,L/Vratiowontexceed80%....2  1  .3  WithMI,L/Vratiomaybe90%to100%..2  A  .3  MImaybeissuedbythegovernment(FHAorVA)orbyaPMI."  "2  I  .3   2  I  .3    2  I  .3  "  "2  I  .3  ( (2  I  .3  SecondaryMarkettransactionsareusefulto.....2  A  .3  movefundsfromcapital-richtocapital-shortareasofthenation...2  A  .3  attractinvestorswhowouldnotbeinterestedinmakingmortgageloansdirectly...2  A  .3  intermediatebetweenshort-terminvestorsandlong-termmortgageborrowers.'  '2  I  .3  TheRealEstateSalesIndustry:..2  A  .3  Salesperson:Entrylevel....2  1  .3  Mustbesupervisedbyabroker....2  1  .3  Relativelyeasyexam...2  A  .3  Broker:....2  1  .3  Minimumexperiencerequired.....2  1  .3  Amoredifficultexam.....2  1  .3  Canmanageaǹofficeandsupervisèsalespeople."  "2  I  .3  ,"     ,2  I  .3  TheNebraskalistingagreement:..2  A  .3  What(exactly)doesthebrokeragreetodo?....2  1  .3  make effortstoselltheproperty....2  1  .3  submitthepropertytothemultiplelistingservice.....2  1  .3  bearallexpensesof̀marketing,ifany.....2  1  .3  promotetheinterestof̀theSellerwiththè utmostgoodfaith,̀loyaltyandfidelity.##2  I  .3  TheNebraskalistingagreement..2  A  .3  What(exactly)doestheowneragreetodo?....2  1  .3  payacommissionifAgent sellsthepropertyor findsabuyerready,willingandabletobuyatthelistingpriceorotheracceptableprice.....2  1  .3  providetitleinformation....2  1  .3  provideaSellerDisclosureStatement....2  1  .3  indemnifytheAgentforanyfailuresofthedutytodisclose....2  1  .3  maintainthepropertyuntildeliveryofposs.((2  I  .3  Whatstheimportanceof.....2  A  .3  1.propertydescription(orstreetadd.)..2  A  .3  6.Sellerhavingmarketabletitle..2  A  .3  9.Sellermakingaccuratedisclosures..2  A  .3  10(e).180-dayperiodafterexpirationofthelisting..2  A  .3  16.Nondiscrimination..2  A  .3  23.Agentsrighttoobtaininformationonexistingmortgageloan##2  I  .3  TypesofListingAgreements:..2  A  .3  1.Exclusiverighttosell(brokerearnscommissionifanysaleoccurs)..2  A  .3  2.Exclusiveagency(brokerearnscommissionifanybrokermakesasale,butnotifsellersellsdirectly)..2  A  .3  3.Openlisting(brokerearnsacommissiononlyifheorshepersonallymakesasale).Severalbrokersmaybegivenlistingssimultaneously.   2  I  .3      2  I  .3  ,"    ,2  I  .3  AgencyRelationships..2  A  .3  1.Whoseagentisthe listingbroker?..2  A  .3  2.Whoseagentisthe sellingbroker?..2  A  .3  3.Whydoesitmatter?' '2  I  .3  Dolisting Realtors:..2  A  .3  workhardtogetthehighestprice?..2  A  .3  like discountbrokers?..2  A  .3  getrichfromhighcommissionsoninflatedsalesprices?..2  A  .3  have easeofmarket̀entry?+  2  I  .3  # #2  I  .3  Earningacommission..2  A  .3  DidHosleyfindbuyerswhowere ready,willingandabletobuyontermsagreeabletoDrake?..2  A  .3  Whosefaultthatsaledidntclose?..2  A  .3  IfDrakehadnotbreached,wouldhehavebeenliableforacommission?( (2  I  .3  Iscommissionpayable:..2  A  .3  Whena ready,willing,andablebuyerisfound?or..2  A  .3  Whentheclosingoccurs?..2  A  .3  Whatifthesellerfindsabuyerdirectly?..2  A  .3  Whatifthesellertakesthepropertyoffthemarketduringthelisting?..2  A  .3  Whatifthesellersellsafterthelistingexpires?..2  A  .3  Whatiftheclosingneverhappens?# #2  I  .3  Howcanyouguardagainstpayingacommissionifthesaledoesnotclose?..2  A  .3  Clauseinlistingagreement: myobligationtopayacommissiondoesnotaccrueuntilfinalclosingofthesaleofmyproperty...2  A  .3  Intheeventofasaleonaninstallmentbasis,thecommissionshallbepaidproportionatelytothereceiptofthesalesprice.# #2  I  .3  Traditionalfraudulentconcealmentbybrokers:..2  A  .3  representingtheseller..2  A  .3  hasactualknowledge..2  A  .3  ofmaterialfacts..2  A  .3  notknownoraccessibletothebuyer..2  A  .3  (andbrokerrealizesbuyerdoesntknowthefacts),..2  A  .3  theresadutybythebrokertodisclose.!  2  I  .3   VXX81% X*"3'XXXX,,,,5/ @1 9WPCXX81%42.TMP-3'XXXX,,,,519WPCh XX81%q013'XXXXKKKK9"0;$l0;$C`H H A"Arial Regular -@C`H H A"Arial Regular -@C`H H A"Arial Regular -@C`H H A"Arial Regular -@C`H H A"Arial Regular -@C`H H A"Arial Regular -@)? 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