Law 5 - Practice Flashcards
Listing contracts shall include ___________ price of the property.
the listing
The purchase contract includes the ___________ price of the property.
purchase
Where can you obtain a market price?
CMA or appraisal
If a licensee want to compensate their client it must be ________________.
in writing
A Back Up offer provision must include special wording and inserted by the ______________ who prepared the offer, or by ____________________ as a counteroffer.
licensee listing agent
When a potential seller contacts an agent for a listing, but has an agency agreement, you must fill out the _________________________________.
Seller Initiated Disclosure Form
Minimum Services means you must deliver contracts to clients ___________________.
without delay
Under a contract for deed (Land Contract) the buyer ________________________________.
has only an equitable interest
According to the Statute of Frauds in KY, all contracts for real estate must be ________________.
in writing
After sending a document by email you should immediately mail it if _______________________.
it was requested
A listing agent must provide a Seller Disclosure Form upon ________ or ___ hours after an offer to purchase.
request 72
The Seller Disclosure Form must be provided by a buyer’s agent to a seller even if the property is not ___________.
listed
I a Seller Disclosure Form is provided after an offer is made on a non-listed property (FSBO), it must be delivered to the Buyer within ___________.
120 hours
An agent has ______ affirmative duty to disclose any information not required by law.
NO
Megan’s Law only requires disclosure by ______________________.
law enforcement
