COLORADO CONTRACTS EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE. VERIFIED.| latest update 2024/25|

COLORADO CONTRACTS EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE. VERIFIED. An incorrect statement concerning an offer to purchase is ___________ 1. It may be withdrawn by buyer prior to seller's acceptance thereof. 2. It may not be withdrawn by buyer. 3. It must be presented in a timely manner regardless of whether the Property is subject to a contract for sale. 4. Broker shall account for all money and property received. - -2. It may not be withdrawn by buyer. Within the licensee buy-out addendum expenses such as costs and expenses of closing, holding and reselling the property are those of the __________. 1. Buyer 2. Broker 3. Seller 4. Buyer and Seller, divided equally - -1. Buyer A common interest community checklist is _________________. 1. Mandatory when listing condos or townhomes 2. An optional use form 3. A required form to be filled out by the management company 4. Required by buyers to be attached to the sales contract - -2. An optional use form The earnest money receipt form acknowledges __________. 1. To the buyer only 2. To both the buyer and seller 3. To the seller only 4. To the broker and seller - -2. To both the buyer and seller A listing terminates upon expiration of the listing agreement, and ______________. 1. the broker has no further obligations even if the property is under contract 2. the broker must have the seller fill out and sign a new listing agreement 3. the broker is obligated to close the property even if the listing has expired 4. the brokerage firm may designate another broker to close the transaction - -3. the broker is obligated to close the property even if the listing has expired The Contract to Buy and Sell and disclosures 1. are typically all signed at closing 2. can be signed at closing 3. are signed at the time of the offer 4. must be signed by closing - -3. are signed at the time of the offer