Promulgated Contract Forms
Save
Terms in this set (60)
Madison is writing up a contract on a One to Four Family Residential Contract
townhouse unit for which the buyer
will have fee simple ownership and
pay a monthly HOA for the upkeep
of common areas. Which
promulgated contract should she
use?
2. TREC has promulgated forms for Residential transactions
most _____.
3. TREC promulgated contracts By inspectors licensed by TREC or otherwise
allow the buyer to have the property permitted by law
inspected:
4. Buyer Sarah is purchasing a Objections
residential property. She plans to live
in the home and operate a daycare
business out of it. Having mentioned
this to her agent, the agent should:
Specify the use as a daycare in
Paragraph 6:
5. The escrow agent is: Not a party to the contract
, 6. A(n) _____ property is one where a Stigmatized
particular event has affected the
desirability of said property.
7. A license holder might be guilty of Performs any of these actions could result in a real
the unlawful practice of law if he or estate license being suspended or revoked by
she: TREC (Writes a will for a client, Advises a buyer
regarding title issues, Drafts a lengthy and complex
provision in special provisions)
8. When a seller wishes to retain Exclusions
certain fixtures or accessories, these
items are called _____.
9. What is TRUE of the paragraph Time is of the essence for this paragraph.
regarding Earnest Money in the 1-4
Family Residential Contract?
10. According to the TREC Third Party Assets, income, and credit history
Financing Addendum, buyer
approval is obtained when the terms
of the loan described are available,
and the buyer has satisfied all of the
lender's requirements related to the
buyer's _____.
11. Settlement and other expenses All of these are included in settlement and
include: expenses (Releases of existing liens, Appraisal fees,
Loan application fees)
12. The process of dividing ongoing Proration
expenses, such as taxes and POA
fees, between the buyer and seller at
closing is called _____.
Save
Terms in this set (60)
Madison is writing up a contract on a One to Four Family Residential Contract
townhouse unit for which the buyer
will have fee simple ownership and
pay a monthly HOA for the upkeep
of common areas. Which
promulgated contract should she
use?
2. TREC has promulgated forms for Residential transactions
most _____.
3. TREC promulgated contracts By inspectors licensed by TREC or otherwise
allow the buyer to have the property permitted by law
inspected:
4. Buyer Sarah is purchasing a Objections
residential property. She plans to live
in the home and operate a daycare
business out of it. Having mentioned
this to her agent, the agent should:
Specify the use as a daycare in
Paragraph 6:
5. The escrow agent is: Not a party to the contract
, 6. A(n) _____ property is one where a Stigmatized
particular event has affected the
desirability of said property.
7. A license holder might be guilty of Performs any of these actions could result in a real
the unlawful practice of law if he or estate license being suspended or revoked by
she: TREC (Writes a will for a client, Advises a buyer
regarding title issues, Drafts a lengthy and complex
provision in special provisions)
8. When a seller wishes to retain Exclusions
certain fixtures or accessories, these
items are called _____.
9. What is TRUE of the paragraph Time is of the essence for this paragraph.
regarding Earnest Money in the 1-4
Family Residential Contract?
10. According to the TREC Third Party Assets, income, and credit history
Financing Addendum, buyer
approval is obtained when the terms
of the loan described are available,
and the buyer has satisfied all of the
lender's requirements related to the
buyer's _____.
11. Settlement and other expenses All of these are included in settlement and
include: expenses (Releases of existing liens, Appraisal fees,
Loan application fees)
12. The process of dividing ongoing Proration
expenses, such as taxes and POA
fees, between the buyer and seller at
closing is called _____.
