In a Pennsylvania real estate transaction, the buyer and seller agree to use a settlement agent rather than separate attorneys to handle the closing. Which statement about settlement practices in Pennsylvania is correct?
Correct Answer
A) Settlement agents may conduct closings and are commonly used in PA transactions
Pennsylvania permits the use of settlement agents (title companies, settlement companies) to conduct real estate closings. While attorney representation is available, it is not required by law, and settlement agents commonly handle residential closings in PA.
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- → In Pennsylvania, the Statute of Frauds requires that real estate contracts be in writing. Which of the following contracts is subject to this requirement?
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Previous Question
Marcus, a licensed salesperson in Pennsylvania, is helping a buyer prepare an offer. The buyer wants to include a clause making the purchase contingent on the sale of the buyer's current home. How should Marcus handle this in the PA Agreement of Sale?
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