CIS Form
Who issues licenses tor brokers and salespersons under Delaware law, and hears complaints filed by the public?
Delaware Real Estate Commission
Broker will assist Client in acquiring real property for the purchase and/or lease within the state of _________, _____________, ________ and/or any other state that the Broker or Designated Agent is licensed in.
Delaware, Pennsylvania, Maryland
How much does Crown Homes charge as a Broker Fee
$295
What does MLS stand for?
Multiple Listing Service
Which of the following is NOT listed on this disclosure?
- Closing Date
- Property Address
- Sales Agreement Date
- Purchase Price
- Buyer/Seller Name
Closing Date
With Common law agency, duties are rooted in long-standing principles of agency recognized by courts. With _________ agency, duties are written into state law and sometimes vary by state.
Statutory
This Agreement shall automatically extend in 7 day increments, not to exceed ____ days from the effective date, unless and until either party provides written notice of Cancellation.
364
Either party may cancel this Agreement upon 1 days written notice after ___ days from effective date.
What does ABA stand for?
Affiliated Business Arrangement
What does HUD stand for?
Housing and Urban Development
Under Delaware Law, it is presumed that you consent to _____ ______ unless you filled out this form saying you do not consent
- Duel Agency
- Common Law
- Fiduciary Agency
Duel Agency
Compensation is also due upon settlement if Client enters an agreement within ___ days after termination provided the property was introduced by Broker during the term
180
Which of the following are NOT prorated as of the date of settlement?
Taxes
Special Assessments
Water
Sewer
Ground Rent
Condominium fees
Rental monies
Public utility charges
None of the above
None of the above
Which Business Relationship/Service provider is NOT listed on this Disclosure?
- GDWG
- Paragon Insurance Group
- Pike Creek Mortgage
- 2-10 Home Warranty
- AmeriSpec
2-10 Home Warranty
Who does NOT sign the VA/FHA Amendatory Clause?
- Seller
- Buyer
- Broker
- Co Broker
- Lender
- Attorney
Attorney
This form must be signed prior to signing a(n) ___________ , _____________, or any other brokerage agreement such as an Exclusive Buyer Agency Agreement?
Agreement of Sale, a Listing Agreement
Which of the following is NOT true? Please select all that apply:
- Seller/Landlord may not treat offer terms as confidential
- Properties shown may be monitored by surveillance
- Broker must know all available properties or offers
- Client should obtain insurance information before making offers
- Properties may require flood insurance
- Client is advised to thoroughly review the Deed before making offers
- Client shall research surrounding area developments and changes
- Broker must know all available properties or offers
- Client is advised to thoroughly review the Deed before making offers
A transaction is terminated and there is a dispute over the entitlement to deposit monies. How long before the Escrow Broker holding the deposit monies can decide who to disburse the deposit monies to if no date is specified in the Listing Agreement?
60 days
As a seller/landlord, which is NOT an option for how the broker can use Bright to market your home?
- You may use Bright to share my home's information with the open market
- You may use Bright to share your home's information on Bright's MLS only
- if you want to instruct your broker to restrict marketing, then you must sign Bright's separate Limited Marketing/Office Exclusive form because this limits peoples access to information
- You may request Broker to disclose Buyer Agent Compensation percentage of fixed amount, but you must sign Broker to Client Home Harmless Agreement prior
- You may request Broker to disclose Buyer Agent Compensation percentage or fixed amount, but you must sign Broker to Client Home Harmless Agreement prior
The purpose of the VA/FHA Amendatory language is to:
- Ensure that the Buyer is protected from paying more than what its appraised for
- Protect the lender from paying more than what the house is worth?
- Protect the seller from being forced to lower the price if the home appraises for less
Ensure that the Buyer is protected from paying more than what its appraised for
Delaware law, title 24 par 29 requires real estate salespersons, associate brokers, and brokers to provide this CIS form to you at the earlier of _______, _________, or __________.
First scheduled appointment, the first showing of a property, or making an offer.
Which section discloses Agency Relationship?
Section 22
Seller will convey to Buyer a good, marketable, fee simple title by deed of _______ warranty, or assignment of Leasehold estate and/or title to manufactured home, as applicable, free and clear of encroachments that would be shown by a survey, liens, and encumbrances of record, but subject to all existing easements and restrictions of record.
Special Warranty
Which of the following statements is NOT in this Disclosure?
- If you are a seller/landlord, your broker may indicate in Bright's system your non-binding, negotiable invitation for a buyer/tenant to ask in their purchase offer for you to contribute to their closing costs.
-Bright will share your listing information (for free) with 100,000+ brokers/agents and thousands of sites and apps
- You and your broker decide on the information, pictures and price submitted to Bright for your home. Bright checks it for accuracy, but does not enhance it with historical records.
You and your broker decide on the information, pictures and price submitted to Bright for your home. Bright checks it for acuracy, but does not enhance it with historical records.
Which of the following statements is NOT mentioned in the For Your Protection: Get A Home Inspection Addendum?
- A qualified inspector takes an in-depth, unbiased look at your potential new home to identify items that need to be repaired or replaced
- An appraisal is required to make sure the house is marketable
- FHA will determine and guarantee the Value of your Potential New Home
- The United States Environmental Protection Agency and the Surgeon General of the United States have recommended that all houses shoudl be tested for Radon.
- FHA will determine and guarantee the Value of your Potential New Home