Chapter 15 Flashcards
How long are signed offers counter offers and rejected offers to be retained in the broker files
Three calendar years
Once an offer has been completed and signed by the purchaser that offer must be delivered to who
The seller
A business days is defined as what
Monday through Friday 8 AM to 5 PM
When must a disclosure statement be given to the homeowner by a general contractor making improvements exceeding $2000?
Prior to entering into a contract
When is the sellers property disclosure form required to be delivered to the buyer?
Within 10 days of execution of a contract
What’s the penalty to the seller who requires the buyer to use a particular title insurance company against the buyers choice for a federally related mortgage?
Three times all charges for title insurance
If earnest money is returned before it is deposited, where must a written and dated notation be placed
Both purchase and sale agreement and ledger card
When earnest money is received, it should be delivered to who
The brokers office
Unless there’s an emergency bill when do legislative law changes take place
July 1
