Delaware Real Estate Salesperson Final Exam Questions and Answers

In Delaware which party is responsible for expenses on closing day ? buyer Licensee Jonathan signed a listing agreement with a new client. Which of these actions should Jonathan plan to perform next, before he publishes the listing on the MLS? prepare a features list Karen's house was recently foreclosed on to pay off a lien on her home. What happens to any extra money after the lien and expenses of the sale are paid? it goes to Karen Which Delaware law may still apply to condominiums and their operation but doesn't apply to cooperatives or planned unit developments? Unit Property Act Which of the following Delaware residential sales contract provisions says, in part, that anything the parties agree to in writing becomes part of the purchase agreement? notice/delivery of documents Which of the following parties must sign the Radon Disclosure form after it's been completed? the buyer and seller Delaware licensee Jennifer has just met with prospective tenant, Aaron, who wants to find a house to rent in Dover for a year. She provides him with the Consumer Information Statement for Consumers Seeking to Rent Residential Property. Was she required by law to do this? Yes, because the CIS must be provided to all prospective tenants who wish to obtain leases for 120 days or more. Hank is a broker who supervises 14 licensees. One of his responsibilities is to maintain copies of his associated licensees' continuing education certificates for at least ______ after the related renewal period ends. 3 years After their first renewal, how many hours of CE courses do Delaware real estate licensees need to take to renew their license? 21 hours Which of the following is another name for a residential sales contract? purchase agreement A Delaware licensee's seller clients will complete tax form 5403 as part of the transaction. Why? To record the estimated amount owed for capital gains on the transaction if the seller is an out-of-state entity.