Counteroffer - Study guides, Class notes & Summaries

For which of the following acts might a broker be subject to disciplinary action? a. Failing to include a termination date in an exclusive listing agreement b. Failing to include a termination date in an open listing agreement c. Keeping trust funds from different clients in a single trust account d. Basing a commission amount on the property's selling price - correct answer a. Failing to include a termination date in an exclusive listing agreement Explanation: Failure to inclu...

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 ...

PSI National Exam for Real Estate Licensing || With Questions & 100% Accurate Answers PSI National Exam for Real Estate Licensing || With Questions & 100% Accurate Answers The purpose of requiring an earnest money deposit in a real estate sales contract is to - ANSWER-provide evidence of the buyer's intention to carry out the contract. A buyer is getting a fully amortized loan for $220,000. The bank will give the buyer the loan for 15 years at 5 1/2% or for 30 years at 6 1/2%. To the n...

At what point in a transaction must you disclose your agency status in writing? - correct 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 disclosure may be oral - the law doesn't require written confirmation of the agency disclosure until each party is about to sign an offer. A counteroffer: - correct answer -Acts as a rejection of the initial offer A counteroffer is a rejection o...

Rockwell Real Estate Exam WA 2 Questions and Answers 100% AccurateRockwell Real Estate Exam WA 2 Questions and Answers 100% AccurateRockwell Real Estate Exam WA 2 Questions and Answers 100% AccurateRockwell Real Estate Exam WA 2 Questions and Answers 100% Accurate 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 - ANSWE...

PSI National Exam for Real Estate Test Bank with complete solutions | Latest 2024 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...

A written agreement in which a purchaser agrees to buy and a seller agrees to sell is called correct answersa contract Antitrust laws prohibit competing brokers from all of the following correct answers1. 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 correct answersall current owners of real estate ...

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 used when a buyer wants to make an offer where the seller has already accepted an offer Correct Answer-A. acts as a rejection of the initial offer A counteroffer is a rejection of the previous offer. Either a buyer or a seller may make a counteroffer, in response to either the initial or previous countero...

Rockwell Practice Exam 90 Questions and Answers (Rated A)Rockwell Practice Exam 90 Questions and Answers (Rated A)Rockwell Practice Exam 90 Questions and Answers (Rated A)Rockwell Practice Exam 90 Questions and Answers (Rated A) 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. within 24 hours after a party signs an offer d. before a party signs an offer - ANSWER-D. before a party ...

Rockwell WA Real Estate Practice Exam 2024 Questions and Answers (Graded A)Rockwell WA Real Estate Practice Exam 2024 Questions and Answers (Graded A)Rockwell WA Real Estate Practice Exam 2024 Questions and Answers (Graded A)Rockwell WA Real Estate Practice Exam 2024 Questions and Answers (Graded A) A property is listed for $275,000. The buyers offer $265,000, and insist that the gourmet six-burner stove remain with the property. When the signed offer is presented to the sellers, the sellers ac...