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Real Estate Contracts Ch 8

Terms in this set (9)

When a property is purchased and then quickly resold at a value that is artificially inflated by false appraisal or loan fraud, it is referred to as...?
Flipping
An action that allows money to go back to the buyer at, or after closing, without the knowledge of the lender is considered a...?
Buyer rebate
Which of the following is a red flag for real estate fraud...?
Contracts call for future improvements
A mortgage broker who is earning an extremely high fee for a transaction may be an indication of...?
Fraud
A deceptive act by an agent in the sale or leasing of a property may lead to a violation of the...?
DPTA
The DTPA was amended in what year...?
2011
Civil penalties under the DTPA may be up to .......per violation?
20k
Ely is a real estate agent who is helping a client find a new apartment. Since Ely's client is Korean, Ely decides to only show his client apartments in a predominately Asian neighborhood. Ely is guilty of which of the following actions...?
Steering
Who is responsible for completing the Seller's Disclosure of Property Condition form...?
Seller only
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