24. Buyer J's purchase contract is contingent upon a home inspection, qualifying for
financing, and a septic tank inspection. The lender wants a well inspection. If there are
problems with any of these inspections, which contingency would NOT allow buyer J
to back out?
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well
Between the time the purchase contract is signed by the buyer and seller and title
changes hands, the contract is
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executory
,In Arizona, a purchase agreement prepared by a licensee must contain which of the
following provisions?
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The form of earnest money must be stated
Earnest money is usually held by the
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buyers broker
Any condition(s) that must be satisfied before the contract is fully enforceable is a
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contingency
The legal remedy of canceling a contract and returning the parties to their original
positions prior to entering into the contract is
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recission
, A seller accepts a purchase contract but makes a minor modification in the terms. The
purchaser is
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relieved of the original offer
If the real buyer of a property wants to remain anonymous, what term should be used
after the name of the buyer stated in the purchase contract?
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or nominee
S makes an offer to purchase a home listed by a broker, but the seller is not available
until Wednesday. On Tuesday S wishes to withdraw the offer. Which of the following
statements is CORRECT?
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The broker must return the deposit and offer
When a purchase offer indicates that a nominee may be the person closing the
purchase:
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financing, and a septic tank inspection. The lender wants a well inspection. If there are
problems with any of these inspections, which contingency would NOT allow buyer J
to back out?
Give this one a try later!
well
Between the time the purchase contract is signed by the buyer and seller and title
changes hands, the contract is
Give this one a try later!
executory
,In Arizona, a purchase agreement prepared by a licensee must contain which of the
following provisions?
Give this one a try later!
The form of earnest money must be stated
Earnest money is usually held by the
Give this one a try later!
buyers broker
Any condition(s) that must be satisfied before the contract is fully enforceable is a
Give this one a try later!
contingency
The legal remedy of canceling a contract and returning the parties to their original
positions prior to entering into the contract is
Give this one a try later!
recission
, A seller accepts a purchase contract but makes a minor modification in the terms. The
purchaser is
Give this one a try later!
relieved of the original offer
If the real buyer of a property wants to remain anonymous, what term should be used
after the name of the buyer stated in the purchase contract?
Give this one a try later!
or nominee
S makes an offer to purchase a home listed by a broker, but the seller is not available
until Wednesday. On Tuesday S wishes to withdraw the offer. Which of the following
statements is CORRECT?
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The broker must return the deposit and offer
When a purchase offer indicates that a nominee may be the person closing the
purchase:
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