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Question 71.66667 out of 1.66667 pointsUnder the TREC Loan Assumption Addendum, which of the following is NOT listed in the preprinted form to establish the buyer’s creditworthiness?Selected Answer:Stocks and bondsAnswers:Credit reportVerification of employment, including salaryStocks and bondsVerification of funds on deposit in financial institutionsQuestion 81.66667 out of 1.66667 pointsWhich of the paragraphs in the TREC One to Four Family Residential Contract addresses the sales price?
Paragraph2Paragraph3Paragraph1Question 91.66667 out of 1.66667 pointsOnce the offer has been accepted, each of the parties are to receive a(n)Question 101.66667 out of 1.66667 pointsWhich of the following is an exception to the TREC rules on contract use?Question 111.66667 out of 1.66667 points“Time is of the essence” in real estate contracts meansSelected Answer:that parties are held to exact performance of their duties within the time specified in the agreement.Answers:that the time to closing should kept to three weeks or less.
that parties must pay a daily fine for delays in the performance of their duties under the contract.that parties are held to exact performance of their duties within the time specified in the agreement.none of these.Question 121.66667 out of 1.66667 pointsA licensee who completes a contract for the sale of real property is notengaged in the unauthorized practice of law if the licensee uses a formthat isQuestion 131.66667 out of 1.66667 pointsOnce presented an offer from a prospective buyer, the seller can do any of the following EXCEPT