Exam 5: Real Estate Contracts and Mandated Disclosures

The relationship between an agent and their principal is best described as:

The listing agreement stated that the existing loan was to be assumed. The broker received an offer per the exact terms of the listing except that the buyer wanted to put on a new loan. The seller refused the offer. The broker would be:

An executory contract is a contract that:

An exclusive right to sell listing is given to Broker Pardo, a sole owner, but Pardo dies prior to finding a buyer; the listing:

The sellers have accepted an offer in which they agreed to carry a second trust deed. What contract should be provided to the seller to be sure all the required information is available to them to enter into this type of agreement?

An oral contract is made between an agent and a seller for the sale of real property. The seller refuses to pay the commission after the sale of the property. This contract between the seller and the agent is:

A listing contract given to several real estate brokers in which the commission is payable to the first broker who brings in an acceptable offer is what type of listing?

A counter offer by the seller:

Sales price for a mobile home is $145,000; excluding the commission, the seller closing costs are $2,000. Seller's existing loan balance $80,000. Per the terms of the listing, the seller is guaranteed a net of $58,000. What is the broker's commission?

A real estate agent may legally refuse to show property available for sale to a person of a minority race if the:

When a buyer is purchasing a condominium or PUD, said buyer must be given which of the following regarding the CC&Rs, homeowner dues, and financial and legal status of the homeowner's association?

Which of the following is not correct?

Buyer makes a written bonafide offer to purchase, and seller signs the acceptance. A contract is first created:

An owner lists a home for sale with XYZ Realty, with instructions to submit the listing to the multiple listing service and invite other brokers to help find a buyer. This is an example of a:

Real estate agencies can be created several ways. The most common method is:

A real estate broker takes an exclusive right to sell listing from a seller for $400,000. A buyer makes an offer for $375,000 which the seller accepts. Before the sale closes, the buyer discovers that the broker misrepresented the square footage of the home. Based on this information, the purchase contract is probably:

With the permission of the seller, Broker A submits a listing to MLS inviting other brokers to help find a buyer. This is an offer of:

A broker has an agency agreement to represent just the buyer. This is an example of a:

The Commissioner's Regulations apply to all California:

The disclosure requirement that is concerned with special flood areas, dam failure, high fire severity, wild and forest fire, earthquake fault zone, and seismic hazard zones, is the: