Texas Promulgated Contract Forms: Quiz |80
Questions with 100% Correct Answers |
Updated and Verified
Any Of The Above ✔✔Once a seller receives an offer, the seller can do which of the following...?
Reject the offer
Make a counter-offer
Accept the offer
Any of the above
The Buyer Moves Into The Property Prior To Closing ✔✔A temporary lease is used when which of
the following occurs...?
The buyer uses a reverse mortgage to purchase the property
The seller provides seller financing to the buyer
The buyer moves into the property after closing
,The buyer moves into the property prior to closing
The Buyer's Name As Listed In The Purchase Contract ✔✔When a buyer takes title to a property,
the name listed on the deed will match which of the following...?
The buyer's name as listed on the property's mortgage
The buyer's name as listed in the purchase contract
The buyer's name as listed on their State ID
None of the above
Lead-Based Paint Addendum ✔✔Houses built prior to 1978 need to include which of the
following addenda....?
Lead-based paint addendum
Seller financing addendum
Flood hazard addendum
All of the above
The Equity in the House ✔✔A reverse mortgage is paid back using which of the following...?
The equity in the house
Seller financing
The borrower's savings
, A new loan sometime in the future
Items of Personal Property That Will Stay With The Property After Closing ✔✔The Non-Realty
Items Addendum includes which of the following...?
Real property that will stay with the property after closing
Improvements that will stay with the property after closing
Items of personal property that will stay with the property after closing
Fixtures that will stay with the property after closing
The Seller's Deed ✔✔John is a real estate agent who is preparing a contract for his client, the
seller. Where should John look to find the name of the seller...?
The seller's deed
The seller's birth certificate
The seller's license
Any of the above
Austin Holdings, LLC ✔✔Austin Holdings is a limited liability company, which is purchasing a residential
property for the company. How should Austin Holdings' name appear on the purchase contract...?
Austin Holdings, a Texas Company
Austin Holdings
Austin Holdings, LLC
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