Real Estate Exam Delaware Questions with 100% Correct Answers

Real Estate Exam Delaware Questions with 100% Correct Answers Most residential real estate transfers require the seller to provide the buyer with this - Answer- Seller's Disclosure of Real Property Condition Report Piper contracted with Alex to sell her Dover home to him for $350,000. If Alex breaches the sales contract, how long does Piper have to sue Alex for breach of contract? Eight years Four years - Answer- Three years Which of the following statements accurately describes the written lease requirements in Delaware? Lease agreements always have to be written. Lease agreements don't have to be written. Lease agreements for 120 or more days must be written. Lease agreements for more than one year must be written. - Answer- Lease agreements for more than one year must be written. Sondra, a buyer, signs all the required mortgage documentation, promising to make all payments to her lender. Unfortunately, Sondra falls on hard times and misses multiple payments, and the bank indicates that it's going to foreclose on her. The foreclosure proceedings are more difficult for the lender because Sondra holds the title to the land. What kind of state does Sondra live in? A deed of trust theory state A lien theory state An intermediary theory state A title theory state - Answer- A lien theory state Which form would the seller (who is the property developer) use to make legally required disclosures for a newly constructed home in a Delaware subdivision? Developer's Real Property Condition Report Seller's Real Property Condition Report Seller's Real Property Condition Report and Radon Disclosure - Exempt Property Certification Seller's Real Property Condition Report - New Construction Only - Answer- Seller's Real Property Condition Report - New Construction Only Which of the following provisions of the Delaware residential sales contract states that the sellers bear responsibility for any loss in value or damage to the house prior to closing? Homeowners Warranty Loss of Value Notice to Sellers Risk of Loss - Answer- Risk of Loss Which of the following is a true statement about general exemptions in Delaware?