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Promulgated Contracts Champions EXAM PACKAGE DEAL (BUNDLE) WITH COMPLETE QUESTIONS AND ANSWERS 100% ACCURATE

Promulgated Contracts Champions EXAM PACKAGE DEAL (BUNDLE) WITH COMPLETE QUESTIONS AND ANSWERS 100% ACCURATE Promulgated Contracts Champions EXAM PACKAGE DEAL (BUNDLE) WITH COMPLETE QUESTIONS AND ANSWERS 100% ACCURATE Promulgated Contracts Champions EXAM PACKAGE DEAL (BUNDLE) WITH COMPLETE Q...

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Promulgated Forms - Champions 2024 Practice Quiz with Complete Solutions.

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Void Contract - ANSWER-Invalid from the beginning and voidable contract is one that can't be enforced against one or more parties (minors are voidable at the option of the minor). Example of Void Contract - ANSWER-A contract between two parties to commit an illegal act is a void contract. Ele...

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Promulgated Contract Forms Final Exam 2024 Questions and Answers (Graded A+)

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If a Buyer wants the Seller to pay some or all of their closing costs, it should be added to the contract in: A) Paragraph #11 (Special Provisions) B) Paragraph #12 - Seller participation in the Buyer's costs C) Third Part financing Addendum D) All of the above - ANSWER-B) Paragraph #12- ...

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TEXAS PROMULGATED CONTRACTS-CHAMPIONS STUDY QUESTIONS AND ANSWERS 100% ACCURATE.

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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 - ANSWER-B A(n) __________________ contract is defined as a contract that is binding on th...

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Promulgated Contract Forms - Champions School Of Real Estate with Complete Solutions!

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mutual consent - ANSWER-a "meeting of the minds" Unilateral Contract - ANSWER-A contract in which only one party Is obligated to perform. one sided Consideration - ANSWER-something given in exchange for a promise Option - ANSWER-an agreement between a buyer and seller giving the buyer the...

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Champions Promulgated Contract Forms 2024 Practice Quiz with Complete Solutions.

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The five essential elements that must exist for a real estate sales contract to be considered valid and enforceable are: legal purpose, competent parties, mutual assent, consideration and ____________. (a) Signature of witnesses (b) In writing (c) Acknowledgment by a notary (d) Recording in co...

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Promulgated Contract Forms: Final Exam 2024 Questions and Answers 100% Verified.

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When earnest money is deposited with an escrow agent, the escrow agent: - ANSWER-A) Is not responsible for the performance of any signatory B) Has the right to secure written release of all signatories C) Is not liable for interest on the money How does the Texas Real Estate License Act define th...

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Promulgated Contract Forms – Champions Promulgated Contract Forms – Champions with Complete Solutions.

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An attempt to induce panic selling in a given neighborhood. - ANSWER-Blockbusting A(n) _________________ property is one where a particular event has affected the desirability of said property. - ANSWER-Stigmatized (ex: murder or haunting) A(n) _________________ occurs when a buyers assumes an...

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Promulgated Contract Forms Champions Real Estate Exam Questions and Answers 100% Verified.

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TREC contract forms - ANSWER-1. 1 - 4 family residential contract 2. Third party financing addendum 3. Loan Assumption addendum 4. Addendum for release of liability 5. Seller Financing Addendum 1 - 4 family residential contract - ANSWER-States parties involved, what is being sold and excl...

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Promulgated Contracts Champions Study Guide |206 Questions with Complete Solutions.

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Cashiers check or wire transfer - ANSWER-Good Funds What does a buyer need to bring to closing? - ANSWER-Good Funds Where is Good Funds in the TREC promulgated form? - ANSWER-Paragraph 9.B(2) T/F Title companies may accept a small personal check from a buyer as part of the good funds if the...

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Promulgated Forms – Champions (Champions School of Real Estate) with Complete Solutions.

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Mutual Consent - ANSWER-"meeting of the minds" unilateral contract - ANSWER-A contract in which only one party is obligated to perform consideration - ANSWER-Something given in exchange for a promise option - ANSWER-an agreement between a buyer and seller giving the buyer the right to pur...

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Texas RE Promulgated Contract Forms - Champions Questions and Answers 100% Verified.

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TREC contract forms & their uses - pg 35 - ANSWER-The contract form: is the One to Four Family Residential Contract (Resale). One to four means that it can be used for single-family properties, duplexes, triplex properties, and four-unit buildings. A building with five or more living units would b...

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Champions School of Promulgated Forms Exam Questions and Answers 100% Correct.

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COLIC - ANSWER-Elements of a Valid & Enforceable Contract: 1. Competent Parties 2. Offer & Accept (Mutual Consent) 3. Legal Purpose 4. In Writing 5. Consideration Void Contract - ANSWER-Invalid from the beginning Voidable Contract - ANSWER-Cannot be enforced Earnest Money - ANSWER-Earn...

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TX Real Estate Promulgated Forms - Champions Exam Questions and Answers 100% Correct.

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lead based paint disclosure - ANSWER-a federal disclosure requirement for residential properties built prior to 1978 TREC has promulgated forms for what? - ANSWER-residential transactions the number of days allowed for objections to title or survey is - ANSWER-the number of days entered in PAR...

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Champions Promulgated Contract Forms Book Review Questions & Answers 100% Correct

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The two most common disclosure forms include - ANSWER-Texas Real Estate Commission, and Texas Association of REALTORS® A conventional loan is best described as any loan - ANSWER-that is not a government loan. A "meeting of the minds" - ANSWER-Mutual consent A contract in which only one ...

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Promulgated Contract Forms – Champions|80 Questions and Answers 100% Accurate.

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An attempt to induce panic selling in a given neighborhood. a. Blockbusting b. Stigmatized c. Steering d. Straw buyer e. Reasonable Accommodation - ANSWER-a. Blockbusting A(n) _________________ property is one where a particular event has affected the desirability of said property. a. U...

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Promulgated Contract Forms - Unit 7 – Test Questions and Answers 100% Verified.

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Which of the following statements is true regarding the Information About Brokerage Services form? - ANSWER-It must be presented to prospective sellers or buyers regardless of whether they become clients or customers. The Addendum for Coastal Area Property is based on §33.135 of which Texas Code...

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Final Exam Study - Promulgated Forms (Law of Contracts II) Questions & Answers 100% Correct

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1. The effective date- who, what, and when? - ANSWER-Between the buyer and the seller, The date on which the communication was made. The date of initialing and signing of the parties. The last party to initial/Sign fills in the day. 2. What is the legal proceedings brought by party to a contract ...

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Promulgated Contract Forms (Exam Review) Questions and Answers (Graded A+)

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TREC contract forms and their uses - ANSWER-- Sales Contracts: 1) One-to-Four Family Contract (Resale) 2) New Home Contract (Incomplete Construction) 3) New Home Contract (Completed Construction) 4) Unimproved Property Contract 5) Residential Condominium Contract (Resale) 6) Farm and Ranch Con...

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Promulgated Contract Form Practice Exam 2024 Questions and Answers (Graded A+)

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If a buyer decides to terminate a contract, the seller must agree to the termination. A) True B) False - ANSWER-B) False Which of the following, with written, consent, may act as an Intermediary? A) The Broker representing the seller and buyer B) The Broker cooperating with the listing ...

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Law of Contracts - Champions School of Real Estate Exam Questions & Answers 100% Verified

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TERLA - ANSWER-- Texas Real Estate License Act - Created in 1939 TREC - ANSWER-- Texas Real Estate Commission - Created in 1949 to administer/enforce TERLA Real Estate Center - ANSWER-- Located at Texas A&M University - Created in 1970 TREC-Promulgated Forms/Leases (Residential): -...

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Law of Contracts - CHAMPIONS TEST 2024 Questions and Answers 100% Correct(GRADED A+)

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Wrongful or criminal deception intended to result in financial or personal gain is called: - ANSWER-fraud The Buyer and Seller Temporary Residential Lease forms may be used for a lease period not to exceed: - ANSWER-90 days __________ extend above the surface without limitation. - ANSWER-air r...

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Law of Contracts - CHAMPIONS TEST 2024 WITH COMPLETE SOLUTIONS.

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The TREC residential contract forms are: - ANWER-Drafted by the Broker Lawyer Committee Wrongful or criminal deception intended to result in financial or personal gain is called: - ANWER-fraud Under the Deceptive Trade Practices Act, __________ are defined as tangible chattels. - ANWER-goods ...

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Champions School of Real Estate: Law of Contracts|208 Questions and Answers 100% Accurate.

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Texas Real Estate Commission - ANSWER-Created by the legislature in 1949 to carry out the provisions of TRELA Unauthorized Practice of Law - ANSWER-When license holders add provisions to contracts that go beyond the factual business details they are engaging in.. Deceptive Trade practices act ...

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Texas Promulgated Contracts-CHAMPIONS STUDY QUESTIONS AND ANSWERS 100% ACCURATE.

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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 - ANSWER-B A(n) __________________ contract is defined as a contract that is binding on th...

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Promulgated Contract Forms (Champions) Exam Questions and Answers.

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mutual consent - ANSWER-a "meeting of the minds" unilateral contract - ANSWER-a contract in which only one party is obligated to perform unenforceable contract - ANSWER-a contract that cannot be enforced due to some flaw or other issue in the contract elements of a valid and enforceable c...

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Champions Promulgated Forms|112 Questions and Answers 100% Correct.

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mutual consent - ANSWER-meeting of the minds consideration - ANSWER-something given in exchange for a promise option - ANSWER-an agreement between a buyer and seller giving the buyer the right to purchase a property at a present price for a given period of time void contract - ANSWER-invali...

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Champions Promulgated Contract Forms Test 2024 Questions and Answers (Graded A+)

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One to Four Family Residential Contract (Resale) - ANSWER-The promulgated contract used by real estate licensees for the sale of residential property. It's used when purchasing residential real estate, but variations of forms are available for other types of real property. Residential Condominiu...

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Champions Promulgated Contract Forms Test 2024 Questions and Answers (Graded A+)

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One to Four Family Residential Contract (Resale) - ANSWER-The promulgated contract used by real estate licensees for the sale of residential property. It's used when purchasing residential real estate, but variations of forms are available for other types of real property. Residential Condominiu...

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Champions - Promulgated Contract Forms|255 Questions and Answers 100% Correct.

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Mutual Consent - ANSWER-Often referred to as a "meeting of the minds." Five Elements Of A Valid and Enforceable Contract - ANSWER-COLIC 1. Competent parties 2. Offer and acceptance (mutual consent) 3. Legal purpose 4. In writing (when required by law) 5. Consideration Unilateral Contrac...

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Champions School Of Real Estate Promulgated Forms Exam Questions and Answers 100% Verified.

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What contract form would you use if you're an agent selling a townhome - ANSWER-1-4 family What type of transaction are TRECS contract promulgated forms used for - ANSWER-Residential Who are buyers supposed to hire for inspections - ANSWER-TREC licensed Inspectors What % does the lender re...

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Promulgated Contract Forms (Champions) Exam Questions & Answers 100% Accurate

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mutual consent - ANSWER-a "meeting of the minds" unilateral contract - ANSWER-a contract in which only one party is obligated to perform unenforceable contract - ANSWER-a contract that cannot be enforced due to some flaw or other issue in the contract elements of a valid and enforceable c...

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Champions Promulgated Forms Exam Questions and Answers (Graded A+)

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mutual consent - ANSWER-meeting of the minds consideration - ANSWER-something given in exchange for a promise option - ANSWER-an agreement between a buyer and seller giving the buyer the right to purchase a property at a present price for a given period of time void contract - ANSWER-invali...

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Champions Promulgated Forms| 157 Questions and Answers 100% Accurate.

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Loan Assumption - ANSWER-When a new buyer takes over the seller's existing mortgage loan. legal description - ANSWER-A written description of a parcel of land which locates it precisely and will hold up in court. (Does not include address.) third party financing - ANSWER-financing that involv...

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Promulgated Forms - Champions School Exam Questions and Answers 100% Correct.

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Competent Parties Offer and acceptance ( mutual consent) Legal Purpose In writing (when required by law) Consideration - ANSWER-Elements of a contract to be valid contract binding parties with one or more duties - ANSWER-executory contract both parties made promise - ANSWER-bilateral on...

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Promulgated Forms - Champions 2024 Questions and Answers 100% Accurate.

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Void Contract -ANSWER-Invalid from the beginning and voidable contract is one that can't be enforced against one or more parties (minors are voidable at the option of the minor). Example of Void Contract -ANSWER-A contract between two parties to commit an illegal act is a void contract. Eleme...

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