Real Estate Law 45

admin 2019.05.09 20:45 Views : 222

Check Your Understanding Answers

  1. List three items regarding the scope of the broker’s duty that the buyer acknowledges when signing the agreement. (Additional correct answers on page 54.)
    • Broker does not decide the price buyer should pay or seller will accept
    • Broker does not guarantee the condition of a property
    • Broker is not responsible for identify boundary lines or other items affecting title
       
  2. As outlined in the provision discussing the buyer’s obligations, what is the buyer expected to do in regards to finding and purchasing a property?

    Buyer agrees to consider and view properties in a timely manner and to act in good faith in the acquisition of a property.
     
  3. What are the parties agreeing to by initialing Paragraph 11B(2)?

    Any dispute not resolved by mediation will be resolved by binding arbitration.
     
  4. What is the main difference between the two CAR buyer representation agreements?

    The exclusivity of the broker-buyer relationship
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