1. c.
2. b.
3.
c.
4. a, d & e.
5. a, b & d.
6.
False. The comps tell you what homes sold for when last purchased, not list
prices of current homes for sale.
7. False. The inspections must
be done within the time frame listed in the contract. Normally within 1 week of
acceptance although it can vary.
8. False. Normally the
buyer gets the earnest money plus interest if the deal doesn't go through.
9.
False. Contingencies must be included in the contract for termination or negotiation
of terms based on specific reasons. You can't just terminate a contract for no
reason.
10. False. The purchase price is on average 6 percent
lower than the asking price.