Washington state Real Estate exam set 1 Exam | Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+

when does the real estate agent give the seller's a copy of their listing agreement form? : immediately what are the elements needed for a valid purchase and sales agreement? : consideration (not of monetary value), in writing & lawful purpose. There does not need to be earnest money but often is a mortgage that secures both real and personal property as collateral to secure a borrower's debt : package mortgage name of the state/local sales tax debt to the seller in the transfer of property listed on the uniform settlement statement : documentary stamp tax or transfer tax a property owner could qualify for tax deferred exchange if it was what? 2 | P a g e : used in a business or trade conditional use permit : allows certain beneficial uses (schools, churches, etc) to operate in residential neighborhoods despite zoning laws what do the terms "offer and acceptance", "mutual assent" & "meeting of the minds" all mean? : that there is an unqualified acceptance in offer, all these terms refer to whether the parties mutually consented to the terms of a contract. (a counteroffer is sometimes referred to as a qualified acceptance.