COLORADO REAL ESTATE – CONTRACTS EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+/| latest update 2024/25|

COLORADO REAL ESTATE – CONTRACTS EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+/ "MEC" in a contract means: A. Mutual Execution of Contract B. Must Exit Contract C. Multiple Element Contingency D. Multiple Easement Criteria - -A. Mutual Execution of Contract In Contract to Buy and Sell Real Estate. Means date upon which both parties have executed contract. MEC +1 would be the date in which both parties sign, plus one day. Typically used in commercial world but not frequently in residential agreements. The Contract to Buy and Sell Real Estate says who will pay the closing costs: A. The Buyer B. The Seller C. Whatever is specified in the contract D. The Broker - -C. Whatever is specified in the contract Negotiable. When disclosing the square footage on the Square Footage Disclosure form, the broker must disclose: A. That the broker warranties the measurements B. That the seller warranties the measurements C. That the disclosure is for the lender D. Source of the measurement - -D. Source of the measurement Most of the time, Real Estate brokers do not measure the square footage themselves. On the disclosure you provide the source of the measurement and what that square footage is. Below that there is a disclaimer that square footage may not be exact and if the square footage