100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
TEXAS PROMULGATED CONTRACTS REAL EXAM $12.49
Add to cart
Quickly navigate to
Preview
  2.  
  3. TEXAS PROMULGATED CONTRACTS
  4.  
  5. TEXAS PROMULGATED CONTRACTS

Exam (elaborations)

TEXAS PROMULGATED CONTRACTS REAL EXAM

1 review
 12 views  0 purchase
  • Course
  • TEXAS PROMULGATED CONTRACTS
  • Institution
  • TEXAS PROMULGATED CONTRACTS

TEXAS PROMULGATED CONTRACTS REAL EXAM ANALYZED AND EXPERT COMPILED EDITION GUARANTEED PASS A+

Preview 4 out of 34  pages

Document information

  • July 9, 2024
  • 34
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • texas
  • promulgated contracts
  • edition
  • guaranteed pass
  • exam
  • analyzed and expert compiled

Written for

  • TEXAS PROMULGATED CONTRACTS
All documents for this subject (180)

1  review

review-writer-avatar

By: RegisteredNurse • 4 months ago

Very Informative, detailed and timely, I passed, thank you very much

Seller

avatar-seller
DrBellaPhD

Reviews received

Content preview

TEXAS PROMULGATED CONTRACTS REAL
EXAM ANALYZED AND EXPERT
COMPILED 2023-2024 EDITION
GUARANTEED PASS A+


The elements of a valid contract are, competent parties, consideration, legal subject
matter, in writing, and ___________.

(a) Default

(b) Mutual consent

(c) Property condition

(d) Recording
B
A(n) __________________ contract is defined as a contract that is binding on the
parties, with one or more of the parties having contractual duties that have not yet
been performed.

(a) Executory

(b) Executed

(c) Bilateral

(d) Void
A
In the business of real estate, ___________ is defined as something given in
exchange for a promise.

,(a) Consideration

(b) Mutual assent

(c) A bribe

(d) Legal subject matter
A
The TREC-promulgated contract forms:

(a) Are for optional use by real estate licensees

(b) Are drafted by the Broker-Lawyer Committee

(c) Are promulgated by the legislature

(d) Are used in both commercial and residential transactions
B
In a lease with a "right of first refusal" provision:

(a) The price is set when the lease agreement is negotiated

(b) The tenant has promised to buy the property

(c) The TREC promulgated form must be used

(d) The tenant has the right to match or better any offer the landlord receives to
prevent the property from being sold to someone else
D
TREC has promulgated forms for:

(a) lease purchase transactions

,(b) cooperatives

(c) right of first refusal

(d) residential transactions
D
An offer can be communicated by ___________________.

(a) Phone

(b) Hand delivery

(c) E-mail

(d) All of the above
B
The Third Party Financing Addendum For Credit Approval is used when:

(a) The buyer is obtaining FHA financing

(b) Paragraph 4.A(2)(a) is checked in the contract

(c) The buyer is obtaining VA financing

(d) The buyer is obtaining any kind of financing
B
In the Third Party Financing Addendum for Credit Approval:

(a) The buyer has no incentive to obtain financial approval

(b) The buyer has a definite time to notify seller of the inability to obtain financing
approval

(c) The buyer's earnest money will not be returned if the buyer does not obtain

, financing

(d) The option period is explained
C
The Third Party Financing Addendum for Credit Approval cannot be used for:

(a) VA guaranteed loans

(b) FHA insured loans

(c) Seller Financing

(d) Texas Veterans Loans
B
According to the Seller Financing Addendum, the interest rate is:

(a) Set at 6%

(b) Negotiated between the parties

(c) Set by TREC

(d) Determined at closing
A
___________________ occurs when a buyer assumes and agrees to pay the seller's
existing mortgage.

(a) Loan assumption

(b) Seller liability

(c) Seller lien

(d) Credit approval

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller DrBellaPhD. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

53022 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$12.49
  • (1)
Add to cart
Added