Contract forms and addendas quiz 2.docx - 9 The buyer agrees to purchase a home \u201cas is\u201d in part relying on an existing inspection report The buyer

Contract forms and addendas quiz 2.docx - 9 The buyer...

This preview shows page 1 - 4 out of 12 pages.

9The buyer agrees to purchase a home “as is” in part relying on an existing inspection report. The buyer uses the One to Four Family Residential Contract with an option period of 14 days. What are the buyer’s choices during the option period? Selected Answer:The buyer may have the property inspected again.Answers:The buyer may not have the property inspected again.The buyer may have the property inspected again.The buyer may not negotiate additional repairs.The buyer may terminate the contract, but she will forfeit the earnest money. Question 24 out of 4 pointsWhat happens if a buyer fails to pay to the seller an option fee she promises to pay within three days of execution of the contract under paragraph 23 of the TREC One to Four Family ResidentialContract? Question 3 4 out of 4 points
Sellers purchased a home five years ago and had the property surveyed. After purchasing the property, they remodeled and added another structure in the backyard. Using the One to Four Family Residential Contract, what should the listing agent tell the sellers to do about a survey? Question 44 out of 4 pointsUnder paragraph 5 of the TREC One to Four Family Residential Contract, what happens if the buyer fails to deposit the earnest money? Question 50 out of 4 pointsWho pays for a residential service contract under the TREC One to Four Family Residential Contract? Selected Answer:The buyer
Answers:The sellerThe parties may negotiate who paysThe buyerThe listing agent

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture