REAL ESTATE COLORADO LAW & CONTRACTS FINAL EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, VERIFIED.| latest update 2024/25|

REAL ESTATE COLORADO LAW & CONTRACTS FINAL EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, VERIFIED. Two lots of the same size are sold on a street. The lot on the corner sells for $20,000 more than the in the lot in the middle of the street. Which of the following characteristics most likely explains the price difference - -situs When preparing to sell a house using an installment land contract you should: - -have the parties contact an attorney representing one of them to prepare the contract If a buyer informs the seller of an electrical problem to be fixed before closing, and the seller does not fix the problem, the Contract to Buy and Sell Real Estate may be: - -terminated The Buy/Sell contract has an Off Record Title Objection Deadline - -for the buyer to object to Off Record Matters Broker Bob is working with Buyer Sam as a transaction broker and Buyer Sam wants to make an offer on a For Sale By Owner - -Broker Bob is a transaction broker for both parties The Sellers have accepted a Buy/Sell Contract and decide to correct their names as listed on the Contract - -Sellers can do an Amend and Extend Nancy has recently contracted to purchase a home for $185,500 and applied for a 90% LTV mortgage at 6.75% interest. If he closes on this loan on July 11th, how would the entry for prepaid interim interest appear on the closing statement? Figure 365 days for this problem - -$1697.01 Debit Buyer When writing a Buy/Sell contract, what are the essential elements - -Mutual assent, consideration, competent parties, legal purpose When must a listing broker disclose to the buyer the broker's working relationship with the seller? - - In writing before providing specific real estate services According to the Rules and Regulations, the Listing Contract has 17 Uniform duties. Is it a requirement to do all Uniform duties as an agent - -yes, with additional duties as an agent Joseph has recently sold his house for $653,330 which is 54