Closing promise - Study guides, Class notes & Summaries

AREC Final Exam Study Set Questions and Answers Graded A+ When preparing the sales contract, when is it acceptable for a licensee who is not an attorney to offer legal advice to the client? Never A set of guidelines for the ethical conduct of real estate licensees is called a Code of ethics Which of the following is the best definition of a covenant between a lessor and lessee? An agreement or promise made between the parties Which party's closing costs might include mortgage insurance...

Which of the following is an example of a Bilateral contract? - ️️A Promise in exchange for a promise - Purchase Contract. Unilateral Contracts - Listing Agreement, Buyer's Rep, Option Contract Who is responsible for filling in the effective date, who, when & what? - ️️Broker. Between the buyer and the seller, The date on which the communication was made. The date of initialing and signing of the parties. The last party to initial/Sign fills in the day. Broker. Last party to accept ...

If a buyer decides to terminate a contract, the seller must agree to the termination. A) True B) False - B) False Which of the following, with written, consent, may act as an Intermediary? A) The Broker representing the seller and buyer B) The Broker cooperating with the listing broker C) The salesman working with the seller and buyer D) The salesman sponsored by a broker representing the seller - A) The Broker representing the seller and buyer An agent would use the same con...

CA BAR EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+ commercial builder be bound by a residential-use restriction if (1) grantor had common scheme (2) unrestricted lot holders had notice (majority rule) reqs for burden of equitable servitude intent, notice, touch and concern render title unmarketable (1) defects in record chain of title (adverse posession) (2) encumbrances (mortgages, liens, easements, restrictive covenants) (3) zoning violations f the buyer of land determines that the...

Promulgated Contract form Practice exam Questions And Answers If a buyer decides to terminate a contract, the seller must agree to the termination. A) True B) False - ANS B) False Which of the following, with written consent, may act as an Intermediary? A) The Broker representing the seller and buyer B) The Broker cooperating with the listing broker C) The salesman working with the seller and buyer D) The salesman sponsored by a broker representing the seller - ANS A) The ...

Texas Promulgated Contracts CHAMPIONS Exam Questions With Correct Answers (VERIFIED). The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and . (a) Default (b) Mutual consent (c) Property condition (d) Recording B A(n) contract is defined as a contract that is binding on the parties, with one or more of the parties having contractual duties that have not yet been performed. (a) Executory (b) Executed (c) Bilateral (d) Void A I...

Champions Promulgated Forms|112 Questions & Ansmutual consent - ANSWER-meeting of the minds consideration - ANSWER-something given in exchange for a promise option - ANSWER-an agreement between a buyer and seller giving the buyer the right to purchase a property at a present price for a given period of time void contract - ANSWER-invalid from the beginning and has no effect on the parties. contract to perform illegal act is a void contract voidable contract - ANSWER-cannot be enforce...

Loa Sign Test #4 exam Questions and Answers with complete Solutions | Updated 2024 The Note is the loan agreement, and it outlines the terms of the loan. True One part of the "TILA- RESPA integrated Disclosure" (TRID) rule that affects signing agents is the: Closing Disclosure, which consolidates the Truth-in- Lending (TIL) disclosure and the HUD-1 Settlement Statement. Which document replaces the Good Faith Estimate and the "early" Truth in Lending Disclosure. The Loan Estimate form...

NJ Title Insurance RE Practice Exam with Correct Questions and Answers Seller A entered into an option contract with Buyer B. The contract allowed for a price of $200,000 which Seller A honor for a 12 month period exclusively for Buyer B. This would be an example of a - CORRECT ANSWER-a unilateral contract in which only seller A has made a promise to perform. The purchased price for a new home was $230,000. The buyer put down 20%, and the balance was a mortgage for 80%of the purchase ...

Texas Promulgated Contract Forms & Addenda Final Exams Verified 100% Correct! Which of the following is an example of a Bilateral contract? - answerA Promise in exchange for a promise - Purchase Contract. Unilateral Contracts - Listing Agreement, Buyer's Rep, Option Contract Who is responsible for filling in the effective date, who, when & what? - answerBroker. Between the buyer and the seller, The date on which the communication was made. The date of initialing and signing of the parti...