Colorado Real Estate- State Portion 51 Final Questions With Correct Answers| download to pass|2024

Who usually deposits the earnest money check into escrow after a contract has been accepted? - ️️Listing Broker The licensee buy-out addendum must be used under all of the following conditions except: - ️️When a licensee is purchasing the property as a rental investment. What is the purpose of the real estate commission in Colorado? - ️️to protect the public As a buyer agent under an exclusive right to buy agreement, the broker has what agency relationship to the purchaser? - ️️Fiduciary A high level of supervision by employing brokers: - ️️Would include: review of documents in preparation for a closing, assistance in preparing contracts, monitoring of transactions from contracting to closing, attending closings, or making sure an experienced licensee attends the closing, being reasonably available for consultation According to the exclusive right to sell listing contract the listing broker must disclose to any possible buyer - ️️All material facts about the property the broker knows When a licensee uses a licensee buyout addendum your are putting the seller on notice that - ️️The buyer is a licensee the buyer may make a profit and the seller may incur a loss. Checking the will owe box in the holdover clause in the exclusive right to sell listing contract protects the listing brokers commission for disclosed buyers - ️️For the period of time specified in the contract even if the property is relisted by another broker