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A Rhode Island salesperson asks about an owner is about to sign a purchase and sale agreement. What is the best answer?

Correct Answer

B) The licensee must report all written offers to the owner before the owner signs the purchase and sale agreement

R.I. Gen. Laws § 5-20.5-14 makes failure to report all written offers to the owner before signing a purchase and sale agreement a disciplinary ground. Source basis: Rhode Island Department of State official regulation 230-RICR-30-20-2 § 2.26 and R.I. Gen. Laws § 5-20.5-14; checked 2026-04-30.

Answer Options
A
A brokerage policy may omit the statutory document requirement.
B
The licensee must report all written offers to the owner before the owner signs the purchase and sale agreement
C
The document requirement can be handled orally after the parties sign.
D
The rule applies only to commercial transactions.

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Related Topics & Key Terms

Related Topics:

ri.IIIpurchase-agreements

Key Terms:

rhode_islandri.IIIpurchase-agreementsreport-written-offers
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