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

COLORADO CONTRACTS AND REGULATIONS EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, VERIFIED. The Homeowner Warning Notice, the Seller Warning, and the Notice of Cancellation are part of the _____________ - -Foreclosure Sale Contract. The ______________ is used by a Seller to allow a Lien Holder to supply loan information to indentified parties in order to ease the transaction process. - -Seller Authorization The Inspection Objection and the Inspection Resolution allow the buyer and seller to __________________ - -either come to an agreement or cancel the contract. The Buyer is encouraged to consult the buyer's lender prior to entering into a final resolution on inspection matters as the resolution may _______________________ - -(1) have a detrimental impact on the Buyer's ability to get the loan; (2) cause delays in the lender's processing and funding of the loan by Closing; (3) require further inspections and repairs. Communication with the lender should _____________ - -be in writing! If the buyer wishes to terminate based on the inspection, they will use the __________________ - - Notice to Terminate Form. The agreement, or resolution, to any inspection objections would be written up on either an________________________. - -Inspection Resolution or Amend/Extend Form. The Inspection Objection is only a_______________ - -notice to the Seller. True or False: The Buyer can withdraw the Inspection Objection by signing in the appropriate space on the form. - -True True or False: The moment a listing broker receives the objection, it is deemed to have been delivered to the seller. - -True! This is also true for other electronic delivery, such as email or eSignature programs, so long as the parties have elected to allow them. A good practice is to ask the listing/selling broker if their customers and clients require a specific delivery method or if they will accept electronic delivery. The inspection resolution can also be memorialized in an _________ - -amend/extend form. Do or do not use both an Inspection Resolution Form AND an Amend/Extend Form - -DO NOT! This form includes a Note that is paramount. Buyer must provide a copy of this Inspection Resolution to _______________ - -Buyer's Lender. This inspection resolution requires both signatures, and all negotiations should be done ______________ - -in writing and saved by the brokers involved. In an inspection resolution buyer and seller agree that the Seller, on or before _________, shall correct or resolve the following list of unsatisfactory physical conditions of the property and or inclusions. - -a specific date These resolution items are at ___________ expense. - -seller's