A buyer creates liquidated damages in the sales contract by
(Ans- Doing nothing, the contract will default to liquidated damages
Colorado Common Interest Ownership Act requires:
(Ans- real property to be described in a declaration which obligates an individual unit owner to pay property tax, ins. premiums, maintenance or improvement on some declared real property owned in common
When legal complications in a sales contract are beyond the expertise of the broker, the broker should always seek assistance from:
(Ans- an attorney
How many days prior to the foreclosure sale must a delinquent trustor give written notice of his/her intent to cure?
(Ans- 15 days
You may refuse rental housing to
(Ans- A person addicted to or using illegal drugs
Select the party responsible for an accurate, complete and detailed closing statement.
(Ans- The individual license holder
Rule F allows for all of the following, EXCEPT:
(Ans- An addendum to be included within the body of a Commission-approved form
A broker who intends to mark-up or add fees for services performed on behalf of a client by any third party or affiliated business entity is NOT required to:
(Ans- Use the appropriate form to notify the Real Estate Commission
A "Licensee Buy-Out Addendum" signed by the listing brokerage firm's supervising broker
(Ans- binds the firm and buyer broker to the buy-out addendum
Unlicensed personal assistant may do all of the following EXCEPT
(Ans- Explain the reasons behind the pricing of a property.
A broker is listing a property that has a well. What specific action does the seller have to take to make sure that the well is transferred? Seller must provide the Source of Water Disclosure form to the buyer
(Ans- Seller must provide the Source of Water Disclosure form to the buyer
Closing statements must be received
(Ans- At closing.
The title commitment lists a number of standard exceptions, if the buyer obtains an owner's coverage policy this means the standard exceptions (Ans- should be verified as remove
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