Which of the following is FALSE statement regarding PRDS and CAR purchase agreements?<\/p>\n\n\n\n
The CAR agreement does not explicitly require a licensed contractor, but does require more paperwork.<\/p>\n\n\n\n
The CAR purchase contract has set requirements as to who pays property taxes and HOA fees.<\/p>\n\n\n\n
The PRDS purchase agreement specifies that repair work needs to be done by a licensed contractor.<\/p>\n\n\n\n
The PRDS contract has a separate paragraph dedicated to the seller’s obligation to maintain and deliver the property – “broom clean.”<\/p>\n\n\n\n
The correct answer and explanation is :<\/strong><\/mark><\/p>\n\n\n\n Correct Answer:<\/strong> When comparing the California Association of Realtors (CAR)<\/strong> and the Peninsula Regional Data Service (PRDS)<\/strong> residential purchase agreements, both contracts serve as legally binding documents for real estate transactions in California, but they differ in structure, language, and emphasis on certain requirements.<\/p>\n\n\n\n Let\u2019s analyze the options provided:<\/p>\n\n\n\n Which of the following is FALSE statement regarding PRDS and CAR purchase agreements? The CAR agreement does not explicitly require a licensed contractor, but does require more paperwork. The CAR purchase contract has set requirements as to who pays property taxes and HOA fees. The PRDS purchase agreement specifies that repair work needs to be […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-211431","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/211431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=211431"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/211431\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=211431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=211431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=211431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
The CAR purchase contract has set requirements as to who pays property taxes and HOA fees.<\/strong> (This is the FALSE statement.)<\/em><\/p>\n\n\n\n
\n\n\n\nExplanation (300+ words):<\/strong><\/h3>\n\n\n\n
\n
\u2705 True.<\/strong>
The CAR agreement is generally more complex and often involves more disclosures and addenda. While it recommends licensed professionals for repairs, it doesn\u2019t explicitly mandate the use of licensed contractors for all repairs, leaving some discretion to the parties.<\/li>\n\n\n\n
\u274c False.<\/strong>
The CAR contract does not set specific requirements<\/strong> for who pays for items such as property taxes and HOA (Homeowners Association) fees. Instead, it leaves these terms negotiable<\/strong> between the buyer and the seller. The allocation of these costs is determined by what both parties agree to during the transaction. So, this is the false statement<\/strong>.<\/li>\n\n\n\n
\u2705 True.<\/strong>
The PRDS contract is more specific in its language and does require that any agreed-upon repairs be performed by licensed contractors<\/strong>, ensuring work is done professionally and up to code. This requirement adds a layer of protection for buyers.<\/li>\n\n\n\n
\u2705 True.<\/strong>
The PRDS agreement includes a clearly defined section about the condition in which the property should be delivered. It explicitly states that the seller must deliver the property in \u201cbroom clean\u201d condition<\/strong>, and also specifies that the property should be maintained during the escrow period.<\/li>\n<\/ol>\n\n\n\n
\n","protected":false},"excerpt":{"rendered":"