WRA Final Exam Questions with verified solutions | Already Passed

The buyer, in an effort to meet the terms of the Financing Contingency found in the WB-11 Residential Offer to Purchase, delivers a notice to the seller indicating that the buyer is ready to proceed to closing. Has the buyer waived the Financing Commitment Contingency? A:No, because the buyer does not have a check from the bank. B:Yes, because the financing contingency has been removed. C:No, because the buyer did not deliver a loan commitment. D:Yes, because the buyer wants to proceed to closing. C At closing, the seller needs to give a credit to the buyer for property taxes. Last year's taxes were $3,700 and there are 242 days from the first of the year through the day of closing. How much will the buyer's tax credit be? A:$2,453.15 B:$2,587.03 C:$2,346.15 D:$2,443.02