TX Real Estate Promulgated Forms - Champions Exam Questions and Answers 100% Correct.

lead based paint disclosure - ANSWER-a federal disclosure requirement for residential properties built prior to 1978 TREC has promulgated forms for what? - ANSWER-residential transactions the number of days allowed for objections to title or survey is - ANSWER-the number of days entered in PARAGRAPH 6 TREC promulgated contracts allow the buyer to have the property inspected... - ANSWER-by inspectors licensed by TRE or otherwise permitted by law Sarah-Buyer is purchasing a residential property. She plas to live in the home and operate a daycare business there. Having mentioned this to her agent, the agent should do what? - ANSWER-SPECIFY THE USE of the property in PARAGRAPH 6 Regarding the transaction, a title company is what? - ANSWER-not a party to the transaction stigmatized property - ANSWER-a property where a particular event has affected the desirability of said property. Ex: a murder Examples of unlawful practice of law by a license holder... - ANSWER-If a license holder... - writes a will for a client - advises the buyer regarding title issues - drafts a lengthy and complex privision in the special provisions section A Seller's Disclosure Notice is not required when... - ANSWER-When the property being sold is a previously unoccupied new home. Never lived in. When a seller wants to retain, certain fixures or accessories they are referred to as... - ANSWER-These items are called "exlusions" The exception to a license holder using a TREC-Promulgated contract form... - ANSWER-Using an attorney-prepared form... What the Buyer will bring at closing... - ANSWER-A cashiers check or wire transfer in the amount of closing costs and down payment... When a party fails to perform according to the terms of the contract... - ANSWER-The part is