A buyer of a single family residence (SFR) is entitled to certification for all of the following, except:
Correct Answer
C) the home is in compliance with carbon monoxide gas detector laws.
Buyers are entitled to various certifications including smoke detectors and water heater strapping.
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- → A buyer records a deed at the county recorder's office. What is the primary purpose of recording?
- → A buyer drives past the property and sees someone other than the seller living there and maintaining the yard. This observation should put the buyer on what type of notice?
- → In a covered purchase transaction, the borrower receives a final form showing the loan terms, cash to close, and settlement charges shortly before consummation. What form is this?
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- → On a settlement statement, an item increases the buyer's amount due at closing. How is that item characterized?
- → On the seller's settlement statement, the purchase price of $400,000 appears as what?
- → At closing, the purchase price of $350,000 appears on the buyer's side of the settlement statement. Is this amount a debit or a credit to the buyer?
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A broker has an exclusive agency listing on a property. If the owner sells the property, the broker is entitled to:
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