Rockwell re - Study guides, Class notes & Summaries

Rockwell Real Estate Exam WA 2 with 100% correct answers graded A+

Real Estate Rockwell real estate principles chap 1 – 4

Rockwell Real Estate Exam WA 2 At what point in a transaction must you disclose your agency status in writing? A. at closing B. when first meeting any potential party to the transaction C. when a party signs an offer D. Before a party signs an offer - answerD. Before a party signs an offer You must disclose your agency status to each party in a transaction as soon as practicable. However, the initial disclosure may be oral - the law doesn't require written confirmation of the agency dis...

Rockwell Real Estate Exam WA 2 Questions and Answers

A buyer purchases a rental home that is fully furnished. The document used to transfer title to the furniture is: a. quitclaim deed b. bill of sale c. special warranty deed d. general warranty deed - correct answer b. bill of sale Deeds transfer title to real estate, a bill of sale is generally needed to transfer title to personal property. Ben receives a life estate in a property, with his nephew Will designated as the remainderman. When Ben dies, what kind of interest does Will re...

Rockwell Real Estate Exam WA 2 At what point in a transaction must you disclose your agency status in writing? A. at closing B. when first meeting any potential party to the transaction C. when a party signs an offer D. Before a party signs an offer - answerD. Before a party signs an offer You must disclose your agency status to each party in a transaction as soon as practicable. However, the initial disclosure may be oral - the law doesn't require written confirmation of the agency dis...

Rockwell Real Estate Exam WA 2 A counteroffer: A. acts as a rejection of the initial offer B. is used to rescind a previously existing contract C. is used only to make an offer contingent on a particular event D. is used when a buyer wants to make an offer where the seller has already accepted an offer - answerA. acts as a rejection of the initial offer A counteroffer is a rejection of the previous offer. Either a buyer or a seller may make a counteroffer, in response to either the initi...

Freehold Estate - correct answer Is an interest in real property that has an indeterminable (not fixed or certain) referred to as a owner Fee Simple Estate - correct answer Is the greatest estate that can exist in land, the highest and most complete form of ownership. It is potentially infinite duration and represents the whole "bundle of rights" Estate of Inheritance - correct answer An estate that can pass to the holders heirs, especially a fee simple Defensible fee estate - ...

At what point in a transaction must you disclose your agency status in writing? A. at closing B. when first meeting any potential party to the transaction C. when a party signs an offer D. Before a party signs an offer - correct answer D. Before a party signs an offer You must disclose your agency status to each party in a transaction as soon as practicable. However, the initial disclosure may be oral - the law doesn't require written confirmation of the agency disclosure until each ...