Colorado Contracts and Regulations and Final Exam with Certified Solutions

Colorado Contracts and Regulations and Final Exam with Certified Solutions A property built before January 1, 1978, requires a Lead-Based Paint Disclosure based on a A) completion of improvements. B) building permit. C) certificate of occupancy. D) building application. Building permit The sellers say they do not wish to include the hot tub with the sale of the property. The listing broker should A) explain that it is personal property and they may automatically take it because no one would think it was included. B) tell the sellers to hide it so a buyer would not see it. C) write it into the Exclusions section of the listing. D) explain that the listing requires it to be included because it is on the property at the time of listing. write it into the Exclusions section of the listing. A lender calls the transaction-broker and tells him the buyer is unable to qualify for the loan requested in the contract. The broker should A) inform all the parties immediately because this is a material fact. B) not do anything because he is not a buyer's agent. C) hold the information confidential as part of the buyer's terms. D) wait until the loan condition deadline to see whether the buyer can improve her credit. Inform all parties immediately The broker's office policy establishes all the following EXCEPT A) commission agreements with other firms. B) how commissions are split with the agent and the firm. C) how brokers are to be designated. D) commissions charged by the firm. The answer is COMMISSION AGREEMENTS WITH OTHER FIRMS. Commission agreements between all local firms would be in violation of antitrust laws The exclusive right-to sell contract must have A) a term of at least 90 days. B) signatures of both the buyer and seller. C) a beginning and ending date. D) the seller's minimum acceptable price. a beginning