Promulgated contract form Study guides, Class notes & Summaries

If a buyer decides to terminate a contract, the seller must agree to the termination. A) True B) False - B) False Which of the following, with written, consent, may act as an Intermediary? A) The Broker representing the seller and buyer B) The Broker cooperating with the listing broker C) The salesman working with the seller and buyer D) The salesman sponsored by a broker representing the seller - A) The Broker representing the seller and buyer An agent would use the same contract for n...

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Promulgated Contract Forms – Champions Promulgated Contract Forms – Champions with Complete SolutionsPromulgated Contract Forms – Champions Promulgated Contract Forms – Champions with Complete SolutionsPromulgated Contract Forms – Champions Promulgated Contract Forms – Champions with Complete Solutions An attempt to induce panic selling in a given neighborhood. - ANSWER-Blockbusting A(n) _________________ property is one where a particular event has affected the desirability of...

Champions - Promulgated Contract Forms|255 Questions and Answers 100% CorrectChampions - Promulgated Contract Forms|255 Questions and Answers 100% CorrectChampions - Promulgated Contract Forms|255 Questions and Answers 100% Correct Mutual Consent - ANSWER-Often referred to as a "meeting of the minds." Five Elements Of A Valid and Enforceable Contract - ANSWER-COLIC 1. Competent parties 2. Offer and acceptance (mutual consent) 3. Legal purpose 4. In writing (when required by law) 5. Co...

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PROMULGATED CONTRACT FORMS STUDYGUIDE EXAM ...

Texas Promulgated Contracts-CHAMPIONS STUDY WITH CORRECT SOLUTIONS The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording - answerB A(n) __________________ contract is defined as a contract that is binding on the parties, with one or more of the parties having contractual duties that have not yet been performed. (a) Executory (b) Executed (c) Bilater...

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Madison is writing up a contract on a townhouse unit for which the buyer will have fee simple ownership and pay a monthly HOA for the upkeep on common areas. Which promulgated contract should she use? a) Residential Condominium Contract b) Unimproved Property Contract c) One to Four Family Residential Contract d) Residential Townhome Contract - Answer- c) One to Four Family Residential Contract TREC has promulgated forms for most ___. a) Lease purchase transactions b) Cooperatives c) C...

When the buyer assumes the sellers loan, the ______ becomes responsible for repayment of the loan as well as any other obligations to the lender. - Buyer Lenders view non-realty items within the real estate contract to be ______, and therefore the value of those items needs to be deducted from the sales price. - Sales concession When completing the contract how should you describe the location of the property - Lot and block legal description The fixtures that are included in the one to...