Chapter3_exam-bank.docx - Texas Promulgated Forms Second Edition Update Texas Promulgated Forms Second Edition Update Chapter 3 Exam Bank QUESTION 1

Chapter3_exam-bank.docx - Texas Promulgated Forms Second...

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Texas Promulgated Forms, Second Edition UpdateTexas Promulgated Forms, Second Edition UpdateChapter 3 Exam Bank QUESTION# 1When property owned by a married couple is being sold, what is the BEST way to identify the sellers? a.Mr. and Mrs. Thomas Bud Smithb.Thomas Bud Smith and spouse Mary Ann Smithc.Thomas Bud Smith and his wifed.Thomas Bud Smith et vir Mary Ann SmithQUESTION# 2 Under the TREC Seller Financing Addendum, who pays to provide the buyer’s credit report to the seller? Which of the following is not negotiable in paragraph 23? Under the TREC Loan Assumption Addendum, who pays to provide buyer’s credit report to seller? What information is required in paragraph 12 of the TREC One to Four Family Residential Contract? a.Seller’s contribution to buyer’s expensesb.Amount of earnest money to be provided by the buyerc.Addresses for notices to be provided for buyer and sellerd.Specific repairs required by the buyerQUESTION# 6 What information is NOT needed to complete paragraph 23 of the TREC One to Four Family Residential Contract?
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Texas Promulgated Forms, Second Edition Update What happens if buyer’s credit is not approved under the TREC Third Party Financing Addendum, and the buyer gives timely notice to the seller? Sellers contribution to a residential service contract is addressed is which paragraph of the TREC One to Four Family Residential Contract? Property approval, according to paragraph B2 in the Third Party Financing Addendum, includes a.the appraisal.b.lender-required repairs.c.insurability.d. all of these.
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