A counteroffer - Study guides, Class notes & Summaries

At what point in a transaction must you disclose your agency status in writing? A. at closing B. when first meeting any potential party to the transaction C. when a party signs an offer D. Before a party signs an offer - ANSWER ☑☑D. Before a party signs an offer You must disclose your agency status to each party in a transaction as soon as practicable. However, the initial disclosure may be oral - the law doesn't require written confirmation of the agency disclosure until each par...

Rockwell Real Estate Exam WA 2 Questions and Answers Already Passed A bathroom contains a toilet, a sink, and a stand-up shower. This would be considered a: A. one-quarter bath B. half bath C. three-quarter bath D. full bath C. three-quarter bath A bathroom with sink, toilet, and stand-up shower is a three-quarter bath A conventional loan can be: A. an ARM B. a 15-year loan C. a 30-year loan D. All of the above D. all of the above A conventional loan is one that is not i...

Practice Midterm –Rockwell Questions and Answers 100% Pass A broker showed one of his own listings to a buyer he was representing. The buyer decided to make an offer on the property, which was accepted. At no point did the broker disclose his dual agency status. The broker may be: a. forced to give up any payment received from the buyer and/or seller b. sued by the seller c. subject to disciplinary action by the Real Estate Commissioner d. All of the above d. All of the abo...

A written agreement in which a purchaser agrees to buy and a seller agrees to sell is called - Answera contract Antitrust laws prohibit competing brokers from all of the following - Answer1. boycotting other brokers in the marketplace. 2. dividing the market to restrict competition. 3. agreeing to set sales commissions and management rates. When a sewer line is installed down a rural road, the cost will probably be shared by - Answerall current owners of real estate fronting on that road...

Rockwell Real Estate Exam WA 2 Questions and Answers 100% CorrectRockwell Real Estate Exam WA 2 Questions and Answers 100% CorrectRockwell Real Estate Exam WA 2 Questions and Answers 100% CorrectRockwell Real Estate Exam WA 2 Questions and Answers 100% CorrectAt what point in a transaction must you disclose your agency status in writing? - ANSWER--Before a party signs an offer You must disclose your agency status to each party in a transaction as soon as practicable. However, the initial disc...

Rockwell Real Estate Exam WA 2 THEIRS with Complete Solutions Rockwell Real Estate Exam WA 2 THEIRS with Complete Solutions Rockwell Real Estate Exam WA 2 THEIRS with Complete Solutions Rockwell Real Estate Exam WA 2 THEIRS with Complete Solutions Rockwell Real Estate Exam WA 2 THEIRS with Complete Solutions A counteroffer: A. acts as a rejection of the initial offer B. is used to rescind a previously existing contract C. is used only to make an offer contingent on a particular event D. is...

Necessary Elements of a Contract - ANSWEROffer Acceptance Consideration Parties with Capacity Lawful Purpose Offer - ANSWERStatement that specifies the position of the maker of the offer (called the offeror) Receiving party is called an offeree - Offer becomes a VALID CONTRACT when it is ACCEPTED by the party who receives it Acceptance - ANSWERExpresses satisfaction with an offer, must mirror the precise terms & conditions stated in the offer Counteroffer - ANSWERThe original off...

PSI National Exam for Real Estate Questions and Answers Graded A+ A written agreement in which a purchaser agrees to buy and a seller agrees to sell is called a contract Antitrust laws prohibit competing brokers from all of the following 1. boycotting other brokers in the marketplace. 2. dividing the market to restrict competition. 3. agreeing to set sales commissions and management rates. When a sewer line is installed down a rural road, the cost will probably be shared by all cu...

An agent's duties to third parties include all the following EXCEPT A) fairness. B) obedience. C) disclosure of material fact. D) honesty. - answer-B) obedience. Derrin hires Austin with Best Homes Realty to list his home for sale. As Austin is completing the listing agreement, Derrin mentions that the hot water heater has not worked for a couple of weeks and is not planning on repairing it since he is selling the home. Derrin tells Austin that he cannot share that information with an...

John assigned his right to receive a deed from Trudy to Hannah. Contracts assigning deeds are unenforceable. John is relieved from making payment to Trudy. Hannah will be entitled to the deed. John is an assignee. Correct Answer-Hannah will be entitled to the deed. Harry offers in writing to sell Lynn Blackacre. Lynn accepts, thinking that the offer refers to Greenacre. In fact, Harry made the offer thinking that it referred to Greenacre. Either party may rescind the contract because ...