Multiple Choice
When a buyer signs an offer to purchase a property, the broker receives a monetary amount from the purchaser of 5 or 10 percent of the purchase price. This deposit is commonly referred to as the:
A) commission
B) earnest money
C) closing cost
D) title insurance premium
Correct Answer:
Verified
Correct Answer:
Verified
Q19: The successful conveyance of real estate depends
Q20: Which of the following contract elements is
Q21: Since the issues in many transactions are
Q22: Since the seller often has utilized the
Q23: If a property transaction is scheduled to
Q25: The laws of some states require that
Q26: Contracts for sale may contain sections that
Q27: Recording documents in the public records informs
Q28: Certain closing costs will be prorated to
Q29: In accordance with RESPA, whenever a buyer