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RealEstateU- Texas Law of Contracts Exam Questions and Complete Solutions Graded A+
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RealEstateU- Texas Law of Contracts Exam Questions and Complete Solutions Graded A+
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RealEstateU- Texas Lawof Contracts Exam
Questions and Complete
Solutions Graded A+
Denning [Date] [Course title]
,At a closing Buyer Betsy and George were provided a deed to transfer the property to them from the
seller. What type of deed would Buyer Betsy and George most likely receive from the seller at closing if
there were no issues at all with the title of the property? - Answer: General Warranty Deed
When transferring the property to Buyer Betsy and George the seller would need to sign the deed as the
______ and Buyer Betsy and George would need to sign the deed as ________?
A. Grantor/Grantee
B. Grantee/Grantor
C. Trustor/Trustee
D. None of the above - Answer: None of the above
Since Buyer Betsy and George decided had to obtain a loan on the property because they did not have
the funds to purchase the property outright, this would be what type of encumbrance on the property?
- Answer: Voluntary alienation
The transfer of title freely by the owner is referred to as? - Answer: Voluntary alienation
Which of the following is required in a valid deed?
A. All of the above
B. Consideration
C. Habendum Clause
D. A granting lease - Answer: All of the above
A suit to quit title is used to do which of the following? - Answer: Fix a defect in title
Who conducts a title search? - Answer: A title abstractor
David recently lost his property through a foreclosure sale. This is an example of? - Answer: Involuntary
alienation
, This is a step above prequalification, it involves verifying a purchaser's credit, down payment, and
employment history...? - Answer: Pre-approval
The act of reviewing loan documentation and evaluating the borrower's ability and willingness to repay
the loan and sufficiency of collateral value of the property is referred to as? - Answer: Underwriting
What is the first step in the loan process? - Answer: Pre-qualification
What should a real estate agent have their client obtain before viewing any properties? - Answer: A pre-
approval letter from a lender
In order to simplify the process, a real estate agent should only recommend one mortgage broker to
their clients?
A. True
B. False - Answer: False
Andrew was pre-approved for a $200,000 loan. How much money will Andrew have to put down if he
makes $275,000 offer on a property...? - Answer: $75,000
Individuals who are liable for a lot of debt will most likely obtain what type of loan? - Answer: FHA-
insured loan
Which of the following is a credit reporting bureau?
A. Equifax
B. TransUnion
C. Experian
D. All of the above - Answer: All of the above
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