RealEstateU- Texas Promulgated Contract Forms Final Exam 2024 Questions with 100% Correct Answers Verified Latest Update
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Module
RealEstateU- Texas Promulgated Contract Forms
Institution
RealEstateU- Texas Promulgated Contract Forms
RealEstateU- Texas Promulgated Contract Forms Final Exam 2024 Questions with 100% Correct Answers Verified Latest Update When earnest money is deposited with an escrow agent, the escrow agent
ANS A)Is not responsible forthe performance of any signatory B) Has the right to securewritten
release of...
REALESTATE U Texas Promulgated Contract Forms Final Exam.pdf file:///C:/Users/HP/Desktop/dddd/REALESTATE%20U%20Texas%2
Real Estate U Texas Promulgated Contract Forms
Final Exam Questions & Answers
1. When earnest money is deposited with an escrow agent, the escrow agent
ANS A) Is not responsible for the performance of any signatory B) Has the right to securewritten
release of all signatories C) Is not liable for interest on the money
2. How does the Texas Real Estate License Act define the first face-to-face meeting with
required agency disclosure?
ANS When a substantive dialogue abouta specific real property occurs
3. If a property was built before 1978, what specific addendum is required?
ANS -
Disclosure of Lead-Base Paint Addendum
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,REALESTATE U Texas Promulgated Contract Forms Final Exam.pdf file:///C:/Users/HP/Desktop/dddd/REALESTATE%20U%20Texas%2
4. The Buyer's Agency Agreement allows an agent to show the same proper-ties to
competing clients
ANS true
5. The Third Party Financing Condition Addendum is not used with
ANS Sellerfinancing
6. The Texas Real Estate Commission (TREC) promulgates an addendum to be used in a
short sale.This Short Sale Addendum is to be signed by
ANS Buyer andseller
7. In Paragraph #14 of the Residential Contract (casualty loss), If a seller cannot
complete the repairs within the time limit, the buyer has the optionof
ANS Terminating the contract
8. In Paragraph 3B of the sales contract, the "sum of all financing"
ANS Excludesany loan funding fee or mortgage insurance premium
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