Promulgated Contract Forms final exam with correct solutions.

Promulgated Contract Forms final exam with correct solutions. If a property has a "Sale of Other Property" contingency contract on it, Seller: - answerCan ask the original buyer to remove the contingency if the Seller has accepted another offer as a back up What must a Buyer's Representation Agreement have? - answerA termination date When a "fixture" in a property does not remain for the buyer, how do we inform the buyer of that fact and make sure the item does not convey with the property? - answerList the item on the "residential contract" A Buyer/Tenant Representation Agreement is only available through the Texas Real Estate Commission - answerFalse In Paragraph 3B of the sales contract, the "sum of all financing" - answerExcludes any loan funding fee or mortgage insurance premium If a property was built before 1978, what specific addendum is required? - answerDisclosure of Lead-Based Paint Addendum Federal Fair Housing Laws forbids discriminatory practices by parties including: - answera) owners of properties b) lenders c) real estate brokers ALL OF THE ABOVE The Seller as well as the Buyer has the unrestricted right to terminate the contract under the option period: - answerFalse The sales price is determined by paragraph 3 by adding the down payment (3A) and the loan amount (3B) - answerTrue A contract is described as an agreement between two or more parties to do or not to do something. - answerTrue A voluntary dispute resolution is called litigation. - answerFalse