easy · National Real Estate Exam contracts
A purchase contract states the sale will only proceed if the buyer's loan is approved by a set date.
What is this clause called?
- A contingency has no effect on whether the contract is enforceable at all.
- An addendum: a separate document that changes the agreed sale price.
- A disclosure: a federally required form provided in every home sale.
- A contingency: a condition that must be met before the contract fully binds.
Sign up free to see the explanation and track your rank →
More National Real Estate Exam contracts practice
- A broker's employment contract with a seller is officially called the:
- What is the current status of the contract?
- A buyer defaults on a purchase agreement, and the seller chooses to keep the earnest money
- The offer is now:
- A contract for the sale of a property is signed. Before clos… — The buyer's interest in th
- The contract is:
- A contract that is valid and binding but allows one party to avoid the agreement because o
- A contract that is valid and enforceable until it is canceled by a party who was a victim