A licensee is purchasing property for himself A TREC promulgated contract is

A licensee is purchasing property for himself a trec

This preview shows page 2 - 4 out of 8 pages.

QUESTION# 10A licensee is purchasing property for himself. A TREC promulgated contract is appropriate for this purchase, but the licensee decides to be creative and draft his own contract from what he has learned in his real estate classes. Which of the following is most likely to be TRUE?a.The licensee could be held as practicing law and could have his license suspended or revoked by TREC.b.If the other party signed it, it would be voidable by the other party.c.The licensee has the right to draft his own contract.d.This is a violation of Section 1-1a of the TRELA.QUESTION# 11Real estate brokers who are members of the Broker-Lawyer Committee become members by beingWhich of the following is NOT a TREC promulgated contract?A real estate broker modifies a 1992 TREC promulgated contract form and updates it to fit a particular transaction. Which of the following could happen?
Texas Promulgated Forms, Second Edition UpdateIf the offer is acceptable to the seller, the offer is signed and dated and returned to the buyer. It is now a contractfor sale. If the offer is rejected, the offer is returned to the buyer markeda.“thanks, but no thanks.”b.“as is.”c.“return to sender.”d.“rejected.”QUESTION# 15Which of the following is an exception to using TREC promulgated contract forms?QUESTION# 16If a seller gave a letter to the listing agent with instructions not to deliver any offers for less than $250,000 and the listing agent receives an offer for $249,500, should he deliver it?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture