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WRA Chapter 6 Questions with verified solutions | Already Passed
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Pending Property A property that has an accepted offer to purchase with all the contingencies removed. Market Value The price at which a property would sell on the open market to a buyer who is not under duress, not related to the seller, is well informed about the property, and who has been found within a reasonable amount of time. Expired Property A property that was listed for sale but did not sell during the term of the listing contract. Substitution A property's value is determined by the cost of acquiring an equally desirable substitute property.
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