A buyer's agent submitted an offer to purchase a home to a seller along with a $10,000 personal note as the earnest money deposit. The buyer's agent is to:
a. inform the seller that the earnest money deposit is a personal note prior to the seller's acceptance of the offer.
b. avoid telling the seller what form of earnest money deposit that accompanies the offer is in.
c. never accept a personal note as an earnest money deposit.
d. refuse to present the offer.
Answer: a. inform the seller that the earnest money deposit is a personal note prior to the seller's acceptance of the offer.
You might also like to view...
The Plant Closing Act does not require employers to provide advance written notice of either a plant closing or a mass layoff once the decision is made by management
Indicate whether the statement is true or false
The yield to maturity on a bond
A) is fixed in the indenture. B) is lower for higher risk bonds. C) is generally below the coupon interest rate. D) is the required rate of return on the bond.