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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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