Virginia Real Estate Testprep Questions & Answers 100% Accurate

An offer is accepted by all parties with a settlement date of September 5. Three days prior to settlement the purchaser notifies the seller that funds are not available and settlement cannot take place as scheduled. Which of the following options are available to the seller? - ANSWER-Any of the above a. Sue for specific performance b. Sue for monetary damages c. Allow rescission of the contract A broker obtains an open listing on a piece of property. In order to collect a commission on the sale of this property, the broker must be able to prove which of the following? - ANSWER-All of the above a. He was licensed at the time of the sale b. He was employed at the time of the sale c. He was the procuring cause of the sale When a seller and licensed salesperson agree to a listing, on terms acceptable to the broker, an agency relationship is established between: - ANSWER-The listing broker and the seller A broker would be in violation of the Federal Fair Housing Law for all of the following actions EXCEPT: - ANSWER-Hiring salespeople, on the basis of sex, regardless of experience or qualifications. A broker is representing a buyer. When the broker is showing property, he may NOT disclose to his buyer: - ANSWER-The current owner is infected with the HIV virus. The Virginia Fair Housing Law prohibits discrimination on the basis of: - ANSWER-Familial status.