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Delaware Real Estate Exam Newest 2024 Questions and Answers Latest (2024 / 2025) (Verified Answers)
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Delaware Real Estate Exam Newest 2024 Questions and Answers Latest (2024 / 2025) (Verified Answers) Most residential real estate transfers require the seller to provide the buyer with this Answer Seller's Disclosure of Real Property Condition Report 2. Piper contracted with Alex to sell her Dove...

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  • November 1, 2024
  • 49
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • Delaware Real Estate
  • Delaware Real Estate

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Real Estate Exam Delaware.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/Real%20Estate%




Delaware Real Estate Exam

Questions & Answer


1. Most residential real estate transfers require the seller to provide the buyer

with this

Answer Seller's Disclosure of Real Property Condition Report



2. Piper contracted with Alex to sell her Dover home to him for $350,000. If Alex

breaches the sales contract, how long does Piper have to sue Alex for breachof

contract?

Eight years

Four years

Answer Three years



3. Which of the following statements accurately describes the written lease

requirements in Delaware?








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,Real Estate Exam Delaware.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/Real%20Estate%




Lease agreements always have to be written.

Lease agreements don't have to be written.

Lease agreements for 120 or more days must be written.

Lease agreements for more than one year must be written.

Answer Lease agreementsfor more than one year must be written.



4. Sondra, a buyer, signs all the required mortgage documentation, promisingto

make all payments to her lender. Unfortunately, Sondra falls on hard timesand

misses multiple payments, and the bank indicates that it's going to foreclose on

her.The foreclosure proceedings are more difficult for the lenderbecause

Sondra holds the title to the land.What kind of state does Sondra livein?



A deed of trust theory state

A lien theory state

An intermediary theory state

A title theory state

Answer A lien theory state



5. Which form would the seller (who is the property developer) use to make





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,Real Estate Exam Delaware.pdf file:///C:/Users/HP/Desktop/New%20folder%20(2)/Real%20Estate%




legally required disclosures for a newly constructed home in a Delaware

subdivision?



Developer's Real Property Condition Report

Seller's Real Property Condition Report

Seller's Real Property Condition Report and Radon Disclosure - Exempt Prop-

erty Certification

Seller's Real Property Condition Report - New Construction Only

Answer Seller's RealProperty Condition Report - New Construction Only



6. Which of the following provisions of the Delaware residential sales contract

states that the sellers bear responsibility for any loss in value or damage to the

house prior to closing?









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Homeowners Warranty

Loss of Value

Notice to Sellers

Risk of Loss

Answer Risk of Loss



7. Which of the following is a true statement about general exemptions in

Delaware?



Charitable and religious property are typically county-specific exemptions.

Counties may offer county-specific exemptions, such as for cemeteries.

Farmland is typically exempt statewide.

Governmental and educational property are typically county-specific exemp-

tions.

Answer Counties may offer county-specific exemptions, such as for cemeteries.



8. Delaware's statutory agency is different from common law agency becauseit

.





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