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10 Cards in this Set
- Front
- Back
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MLS stands for "Multiple Land Service" |
FALSE |
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Thelma Signs an "Exclusive Listing Agreement" with a real estate broker. Through Thelmas efforts, the home is sold to a co-worker of hers. The real estate broker will not receive any commission. |
TRUE |
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One item that is commonly prorated (divided) between the buyer and seller at the time of closing is the real estate (property) taxes. |
TRUE |
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The real estate brokers commission is paid by the seller at the time the contract between buyer and seller is signed |
FALSE |
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The "exclusive right to sell" listing agreement is the one preferred by real estate brokers. |
True |
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The law in most states prohibits parties from orally testifying about a written contract |
TRUE |
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The contract should state the purchase price of the property. |
TRUE |
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A real estate broker may have both express authority and implied authority. |
TRUE |
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The current code of ethics for realtors contains 17 articles. |
TRUE |
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The contract is an important legal document in the transfer of ownership to real property. |
TRUE |
