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Montana Salesperson Exam - P1 Legal Questions and Answers | 2025 Update | 100% Correct
Montana Salesperson - P1 Legal
Montana Salesperson - P1 Legal
What does listing do? Obligates the commission What are the 5 steps of most real estate transactions? S1 - Listing (only brokers can list prop. not salespeople) S2 - Contract of Sale/ Buy-Sell Agreement (Contains contingencies. Buyer will put down earnest money). S3 - Title Insurance Commitment (Not on test but important to understand this piece of the process) S4 - Acquire Financing; Contract for deed (seller financing) or Mortgage (Bank financing) S5 - Close; Seller gets $ and Buye...
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