David Saks: July 2010

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Real Estate Practice : Lesson 751

                                                       #751

If money is held before the acceptance of an offer of a sales contract for the purchase of a home, the money belongs to both the seller and the buyer.

Is this true or false ?

Remember to take your time. The solution is posted below the wildlife photo.

wildlife

A. False

The money belongs to the buyer only and is usually a deposit toward the purchase price




David Saks



Time&Temp Memphis

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Comment balloon 0 commentsDavid Saks • July 26 2010 01:48AM
Real Estate Practice : Lesson 751
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#751 If money is held before the acceptance of an offer of a sales contract for the purchase of a home, the money belongs to both the seller and the buyer. Is this true or false &… more
Real Estate Practice : Lesson 750
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#750 Sally defaulted on her mortgage and subsequently missed a few payments in the process. He lender had to begin the foreclosure process. Before the foreclosure slae took… more
Real Estate Practice : Lesson 749
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#749 If a buyer gives a deposit check to a broker it can be held by the broker and retained contingent upon the rejection or acceptance of a buyer's offer. Is this fact true or… more
Real Estate Practice : Lesson 748
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#748 Money may be given to a broker to hold in trust or escrow for a buyer to pay for a home inspection. Is this true or false Take your time. The solution is posted below the… more
Real Estate Practice : Lesson 747
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#747 If the commission rate a listing broker has with a seller becomes a source of contention between the seller and the broker, the broker can change the commission structure at will… more
Real Estate Practice : Lesson 746
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#746 Any time a seller or buyer wants to create an agency relationship with a broker all the principal has to do is agree to the agency relationship orally. It actually doesn't have to… more
Real Estate Practice : Lesson 745
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#745 A house sits on top of a hill not far from the city landfill. You can see the dump trucks in the destance, but a nice forest is nearby. The agent says to the buyer,.. more
Real Estate Practice : Lesson 744
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#744 Any time a broker takes a listing the seller has given the broker the right to enter into a firm contract on behalf of the seller and decide the selling price if the seller can't decide. … more
Real Estate Practice : Lesson 743
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#743 When we talk about dual agency we're usually talking about a form of agency which is considered legal as long as the agent receives the same amount of money and compensation from both… more
Real Estate Practice : Lesson 742
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#742 Your company listed a home for seller A. B came to see you about the house and you told B that you couldn't give them any information about A's house until they signed a buyer's agency… more