Stuvia seller Guides d'étude, Notes de cours & Résumés

If a Buyer wants the Seller to pay some or all of their closing costs, it should be added to the contract in: A) Paragraph #11 (Special Provisions) B) Paragraph #12 - Seller participation in the Buyer's costs C) Third Part financing Addendum D) All of the above - ANSWER-B) Paragraph #12- Seller participation in the Buyer's costs If a Buyer chooses not to be represented by an agent, the Buyer must be made aware that any information they share can be communicated to the Seller. ...

- Property lot measurements - Registered owner(s) of the property - Last sale date of the property, with the sale price - Assessed value of the property - Legal description of the property - Description of the property (i.e. "single-family detached home" - Total square footage of the property - Various reports about the neighbourhood (crime rates, etc.) - ANSWER-What details can be confirmed on GeoWarehouse? - When did the seller buy the property? - How much did the seller pay for t...

A seller signs a listing contract with a firm. Who is the agent and who is the principal? ______________ - ANSWER-The seller is the principal. The firm is the agent. A buyer asks a listing agent to draft an offer. The buyer does not sign a buyer agency agreement. Is the buyer a customer or a client? - ANSWER-The buyer is a customer. What kind of agency is a firm practicing if the firm represents just one party in the transaction? - ANSWER-Single agency When can a firm engage in multiple...

The sale of alcohol to people who are intoxicated. The service of alcoholic beverages in private clubs to non-members. Keys to Customer Observation - ANSWER_How does the person look?image What does the person do? How does the person react? How much alcohol has been purchased or consumed? Keys to Intervention - ANSWER_Be Quick Be Clear Be Firm Be Consistent The Texas Alcoholic Beverage Commission (TABC) is the state agency that regulates all phases of the alcoholic beverage indu...

Agent Clark is working with seller Jean to sell her property. Agent Clark used to go to college with Buyer agent Sally. Clark and Sally meet up for lunch one day, and Clark tells Sally his seller is willing to accept less than the listed price. What is TRUE of this situation? - ANSWERSClark has violated his duty of loyalty and confidentiality to his client. All of the following are TRUE about the Information About Broker Services (IABS) form EXCEPT: - ANSWERSIt needs to be given for transacti...

Uniform Commercial Code - Answer Article 2 of the UCC governs the sales of goods Sale - Answer the transfer of title from seller to buyer Goods - Answer tangible personal property Common law - Answer most contracts are primarily governed by state common law, including contracts involving employment, services, insurance, real property, patents, and copyrights. Personal property - Answer property other than an interest in land. Real property - Answer land and anything attached to it...

John is an unlicensed real estate assistant. His boss, Broker Ben, is out of town. John holds an open house on Ben's behalf. Evaluate John's actions. - ANSWERSIt is a violation of TREC's rules for an unlicensed assistant to hold an open house What, if known, could cause a buyer or seller of real estate to take a different course of action or make a different decision regarding the property purchase? - ANSWERSMaterial Facts Which of the following is NOT true about brokerage office ...

CLC 056 Analyzing Contract Costs Questions and Answers 100% Correct CLC 056 Analyzing Contract Costs Questions and Answers 100% Correct CLC 056 Analyzing Contract Costs Questions and Answers 100% Correct CLC 056 Analyzing Contract Costs Questions and Answers 100% Correct What is a fair price to the seller? - ANSWER-A fair price for the seller means that the seller will be able to satisfy the terms and conditions of the contract. An offer that is too low is considered unrealistic. It ma...

If a Buyer wants the Seller to pay some or all of their closing costs, it should be added to the contract in: A) Paragraph #11 (Special Provisions) B) Paragraph #12 - Seller participation in the Buyer's costs C) Third Part financing Addendum D) All of the above - ANSWERSB) Paragraph #12- Seller participation in the Buyer's costs If a Buyer chooses not to be represented by an agent, the Buyer must be made aware that any information they share can be communicated to the Seller. ...

- The effective date and expiry date of the agreement (can only be one expiry date) - The method for calculating commission or other remuneration payable to the brokerage (in the case of a seller, the amount payable) - How the commission or other remuneration will be paid - The services that the brokerage will provide under the agreement - ANSWER-What 4 things must be specified on both representation and customer service agreements? The expiry date - ANSWER-If the term of a representation ...