Real Estate Paperwork Explained: For Ontario Sellers A seller has sold property to a neighbor without the services of a real estate broker. Which statement is TRUE of a listing agreement? A seller hired a broker under the terms of an open listing. Solved Which statement is false about an exclusive | Chegg.com Which one of the following statements is FALSE regarding listing contracts? A seller listed her residence with a broker. When a bedroom is listed as 3+1, the first number indicates number of full bedrooms where the + indicates a den or very small bedroom.Washrooms:Washrooms are listed along with the floor theyre on. What was the selling price of the property? The answer is B) SELLING PRICE OF THE PROPERTY AND THE NET PROCEEDS. A listing taken by a real estate salesperson is technically an employment agreement between the seller and the. D) is liable to the buyer for specific performance. This is almost always yes.GreenPIS:Likely a form of certification. Last year, we wrote a guide explaining Real Estate Paperwork for Buyers. a heritage propertyProp Features:Lists amenities that are nearby.Exterior:Indicates the material makeup of the propertys exterior.Pets Perm:Indicates if pets are permitted or if there are pet restrictions at this condo building.Locker:Indicates if there is a locker affiliated with the condo and if it is owned or rented.Maint:Indicates the current maintenance fees affiliated with the condo property.Taxes Incl:Indicates if taxes are included in maintenance fees.HeatIncl:Indicates if heat is included in maintenance fees.Cable TVIncl:Indicates if cable TV is included in maintenance fees.Bldg InsIncl:Indicates if building insurance is included in maintenance fees. B) death of the sales associate who worked with the buyer. have the right to offer the property for sale; wont hold the listing brokerage responsible for loss or damage to the property during the term of the listing agreement; and, Legal description of the property (including the lot details for houses, or the condo corporation for condos), Amount and terms of the deposit [Related: All About Deposits], Irrevocable time (in other words, the time the offer expires if not accepted by the other side), Completion date (the date you take possession), Inclusions and exclusions (eg. The Dominion case and Fox producer Abby Grossberg's lawsuits against the network were prominent reasons behind Carlson's firing, according to the Washington Post, Wall Street Journal, New York. Do-It-Yourself Projects to Boost Home Value, Avoid These Mistakes When Selling Your Home, 10 Tips for Getting a Fair Price on a Home, 5 Negotiating Strategies When Selling Your Home, 12 Tips on How to Stage Your Home for a Quick Sale. Definition and Types of Properties, 6 Home Upgrades that Don't Add Value at Resale. It obligates the seller to transfer the property if the broker procures a ready, willing, and able buyer. This is called an. The listing agreement also specifies the listing price, broker's duties, seller's duties, broker's compensation, terms for mediation, an automatic termination date, and any additional terms and conditions. Listing agreements may be terminated for the following reason: This clause provides that the property owner will pay the listing broker a commission if, within a specified number of days after the listing expires, the owner transfers the property to someone the broker originally introduced to the owner, {"cdnAssetsUrl":"","site_dot_caption":"Cram.com","premium_user":false,"premium_set":false,"payreferer":"clone_set","payreferer_set_title":"REAL ESTATE LAW AND SALES 6","payreferer_url":"\/flashcards\/copy\/real-estate-law-and-sales-6-4616183","isGuest":true,"ga_id":"UA-272909-1","facebook":{"clientId":"363499237066029","version":"v12.0","language":"en_US"}}. D. death of the broker, B. a death of the sales associate who worked with the buyer. Which of the following is a similarity between an open listing and an exclusive-agency listing? The answer is C) EXCLUSIVE-RIGHT-TO-SELL LISTING. B. The broker may keep any amount over $85,000 as a commission. This is called an. Example: On January 1st, Judy signs a listing agreement valid until March 31, at 5% commission, with a 90-day holdover provision. The listing agreement is an employment contract rather than a real estate contract: The broker is hired to represent the seller, but no property is transferred between the two.
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