Promulgated Contract Forms (Champions)
options in case of seller default - Correct Answer ✔️✔
️specific performance, monetary damages, refund of earnest money
option (provides what) - Correct Answer ✔️✔️Buyer has
unrestricted right to terminate the contract within the option period
rollback taxes - Correct Answer ✔️✔️tax assessed when a
property no longer has an agricultural exemption
farm and ranch contract - Correct Answer ✔️✔️contains
provisions for surface leases related to a property
agricultural use exemption - Correct Answer ✔️✔️method
for evaluating tax burden of properties used for agriculture
unimproved property contract - Correct Answer ✔️✔️used
for the sale pf properties with no existing structures
, in a Farm and Ranch sale, buyer receives the following: - Correct
Answer ✔️✔️windmills, tanks, pens (NOT trucks)
buyer's termination form - Correct Answer ✔️✔️used to
notify the seller of a buyer-initiated contract termination
non-realty items addendum - Correct Answer ✔️✔️used
when personal property is to be included in a sale
short sale addendum - Correct Answer ✔️✔️used when
seller is unable to sell at or above what is owed on a property
consumer information form - Correct Answer ✔️✔️should
be displayed prominently at broker's office
condominium resale certificate - Correct Answer ✔️✔
️prepared by management of a condo project
addendum for sale of other property by buyer - Correct Answer
✔️✔️used when there is a contingency
options in case of seller default - Correct Answer ✔️✔
️specific performance, monetary damages, refund of earnest money
option (provides what) - Correct Answer ✔️✔️Buyer has
unrestricted right to terminate the contract within the option period
rollback taxes - Correct Answer ✔️✔️tax assessed when a
property no longer has an agricultural exemption
farm and ranch contract - Correct Answer ✔️✔️contains
provisions for surface leases related to a property
agricultural use exemption - Correct Answer ✔️✔️method
for evaluating tax burden of properties used for agriculture
unimproved property contract - Correct Answer ✔️✔️used
for the sale pf properties with no existing structures
, in a Farm and Ranch sale, buyer receives the following: - Correct
Answer ✔️✔️windmills, tanks, pens (NOT trucks)
buyer's termination form - Correct Answer ✔️✔️used to
notify the seller of a buyer-initiated contract termination
non-realty items addendum - Correct Answer ✔️✔️used
when personal property is to be included in a sale
short sale addendum - Correct Answer ✔️✔️used when
seller is unable to sell at or above what is owed on a property
consumer information form - Correct Answer ✔️✔️should
be displayed prominently at broker's office
condominium resale certificate - Correct Answer ✔️✔
️prepared by management of a condo project
addendum for sale of other property by buyer - Correct Answer
✔️✔️used when there is a contingency
