According to Maryland disclosure The day of the home inspection
guidelines, upon which of the following
events is it NOT appropriate to give the
buyer the opportunity to review the
seller's disclosure/disclaimer statement?
The day of the home inspection
When the buyer expresses interest in
purchasing the property
When the buyer makes an offer
When the property goes on the market
Nancy, a broker in Annapolis, is going "There's a provision right here that gives either of us
over the listing agreement with her new permission to cancel the agreement early."
client, Josie, who asks, "What if I need to
cancel the agreement early?" What should
Nancy tell her?
"I'm always flexible. If we need to, we'll
add an amendment to the agreement
granting you permission to cancel early."
"Listing agreements in Maryland must be
for a definite amount of time. If it would
make you more comfortable, we can set
the expiration date for one month, then
have it automatically renew unless you
decide to cancel."
"There's a provision right here that gives
either of us permission to cancel the
agreement early."
"You may cancel early. But per Maryland
law, since listing agreements must have a
definite termination date, if you do cancel
I'll have to charge you a nominal
cancellation fee."
,Fatima, a salesperson, is hosting an open Fatima isn't permitted to act as a dual agent.
house in Annapolis for her seller client
Ramona. Two interested buyers come in, Only brokers may act as dual agents. For this scenario to
and after Fatima gives them a tour they be legal, Fatima would represent one side of the
tell her they'd like her to represent them transaction as an intra-company agent, and her broker
in making an offer. Since her seller client would appoint another licensee in Fatima's brokerage to
has already consented to dual agency, she represent the other party.
gladly offers to represent the buyers and
helps them write an offer right there at
the open house, making sure that they
also sign a Consent for Dual Agency form.
What's wrong with this scenario?
Fatima doesn't need them to sign the
Consent for Dual Agency form since her
seller client already has.
Fatima isn't permitted to act as a dual
agent.
Fatima must wait until the open house is
finished to have her new clients sign the
Consent for Dual Agency form.
Fatima needs to reaffirm the seller's dual
agency consent before she can help the
buyers make their offer.
evon and Courtney both consented to Devon and Courtney may terminate their agency
dual agency when they signed their listing relationship with Crab Shack and find another broker.
agreement with Chad from Crab Shack
Homes, the Eastern Shore's premiere
vacation home brokerage. But when
another licensee from Crab Shack
presented Chad with an offer, the couple
got cold claws and decided they didn't
want the potential conflict of interest with
dual agency and withdrew their consent.
Which of the following is NOT a potential
outcome?
Crab Shack may terminate the listing
agreement.
, Devon and Courtney may terminate their
agency relationship with Crab Shack and
find another broker.
Devon and Courtney will be held to their
previous dual agency consent and the
transaction will continue unhindered.
The buyers may find another broker to
represent them.
Bridget represents Colin, who's buying Both the buyer and seller must sign the notice form to
Hugh's house. Darcy represents Hugh. acknowledge that they have received the notice and that
Hugh completed and signed the the licensee(s) have informed them of their rights under
Residential Property Disclosure/Disclaimer Section 10-702 of the Maryland Code. The licensees must
Statement, and Colin reviewed and signed also sign.
it. Hugh and Colin also signed the Section
10-702 notice form, and their agents
made sure a copy of the form and the
disclosure statement were included in the
finalized contract. What's missing from
this scenario?
Only the disclosure statement needs to be
included in the final contract.
Only the notice form needs to be included
in the final contract.
The buyer and seller don't need to sign
the notice form, the licensees do.
The licensees also need to sign the notice
form.
Charlie and her girlfriend, Frankie, are Five days
buying a house together. Having found
the perfect home, they made an offer
without first having seen the seller's
property disclosure/disclaimer statement.
The statement arrived two days after they
entered into the contract with the seller.
How many days do Charlie and her
girlfriend have to rescind their offer if they
guidelines, upon which of the following
events is it NOT appropriate to give the
buyer the opportunity to review the
seller's disclosure/disclaimer statement?
The day of the home inspection
When the buyer expresses interest in
purchasing the property
When the buyer makes an offer
When the property goes on the market
Nancy, a broker in Annapolis, is going "There's a provision right here that gives either of us
over the listing agreement with her new permission to cancel the agreement early."
client, Josie, who asks, "What if I need to
cancel the agreement early?" What should
Nancy tell her?
"I'm always flexible. If we need to, we'll
add an amendment to the agreement
granting you permission to cancel early."
"Listing agreements in Maryland must be
for a definite amount of time. If it would
make you more comfortable, we can set
the expiration date for one month, then
have it automatically renew unless you
decide to cancel."
"There's a provision right here that gives
either of us permission to cancel the
agreement early."
"You may cancel early. But per Maryland
law, since listing agreements must have a
definite termination date, if you do cancel
I'll have to charge you a nominal
cancellation fee."
,Fatima, a salesperson, is hosting an open Fatima isn't permitted to act as a dual agent.
house in Annapolis for her seller client
Ramona. Two interested buyers come in, Only brokers may act as dual agents. For this scenario to
and after Fatima gives them a tour they be legal, Fatima would represent one side of the
tell her they'd like her to represent them transaction as an intra-company agent, and her broker
in making an offer. Since her seller client would appoint another licensee in Fatima's brokerage to
has already consented to dual agency, she represent the other party.
gladly offers to represent the buyers and
helps them write an offer right there at
the open house, making sure that they
also sign a Consent for Dual Agency form.
What's wrong with this scenario?
Fatima doesn't need them to sign the
Consent for Dual Agency form since her
seller client already has.
Fatima isn't permitted to act as a dual
agent.
Fatima must wait until the open house is
finished to have her new clients sign the
Consent for Dual Agency form.
Fatima needs to reaffirm the seller's dual
agency consent before she can help the
buyers make their offer.
evon and Courtney both consented to Devon and Courtney may terminate their agency
dual agency when they signed their listing relationship with Crab Shack and find another broker.
agreement with Chad from Crab Shack
Homes, the Eastern Shore's premiere
vacation home brokerage. But when
another licensee from Crab Shack
presented Chad with an offer, the couple
got cold claws and decided they didn't
want the potential conflict of interest with
dual agency and withdrew their consent.
Which of the following is NOT a potential
outcome?
Crab Shack may terminate the listing
agreement.
, Devon and Courtney may terminate their
agency relationship with Crab Shack and
find another broker.
Devon and Courtney will be held to their
previous dual agency consent and the
transaction will continue unhindered.
The buyers may find another broker to
represent them.
Bridget represents Colin, who's buying Both the buyer and seller must sign the notice form to
Hugh's house. Darcy represents Hugh. acknowledge that they have received the notice and that
Hugh completed and signed the the licensee(s) have informed them of their rights under
Residential Property Disclosure/Disclaimer Section 10-702 of the Maryland Code. The licensees must
Statement, and Colin reviewed and signed also sign.
it. Hugh and Colin also signed the Section
10-702 notice form, and their agents
made sure a copy of the form and the
disclosure statement were included in the
finalized contract. What's missing from
this scenario?
Only the disclosure statement needs to be
included in the final contract.
Only the notice form needs to be included
in the final contract.
The buyer and seller don't need to sign
the notice form, the licensees do.
The licensees also need to sign the notice
form.
Charlie and her girlfriend, Frankie, are Five days
buying a house together. Having found
the perfect home, they made an offer
without first having seen the seller's
property disclosure/disclaimer statement.
The statement arrived two days after they
entered into the contract with the seller.
How many days do Charlie and her
girlfriend have to rescind their offer if they
