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Colorado Contracts & Regs Prep Exam 1 Flashcards According to Rule F on Commission Approved Contracts what sections may be omitted from the Contract to Buy and
Sell Real Estate:
Non-applicable financing conditions If an FHA or VA appraisal comes in less than the purchase
price of a home, a buyer:
Can terminate the contract and get earnest money back The contract to Buy and Sell Real Estate has a Dates and
Deadlines section. Should these dates be ignored:
The Time of Essence clause would come into effect The day before the Loan Objection Deadline the lender informed the buyers that the interest rate had risen ¼%.
The buyers:
May terminate the contract and receive their earnest money back "MEC" in a contract meansMutual Execution of Contract Which of the following is not an approved form or contract:Property Management Agreement In preparing a Contract to Buy/Sell, a broker can not put
exculpatory language into:
Additional Provisions of a commission approved contract Which form should not be used to disclose your brokerage
relationship:
Definitions of Working Relationships The Agreement to Amend\Extend is used to change the
terms of:
an accepted purchase and sale contract On The Contract to Buy and Sell Real Estate, if the buyer is
in default and the seller remedy is specific performance:
The seller gets the earnest money and may sue When an associate broker makes a disclosure using the
Square Footage Disclosure form. The broker is disclosing:
The methodology and/or source of the measurements As per the Real Estate Commission position regarding
Megan's Law:
If important to the buyer, the buyer should check with law enforcement officials Approved contracts and forms are regulated by the
Colorado Real Estate Commission Rule F. It:
Enables brokers to comply with the conditions of Conway-Bogue The Amend/Extend Contract With Broker is used to
change:
Any contract to which the broker is a party
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