The primary purpose of a competitive market analysis (CMA) is to:
A. Provide an estimate of the selling price for the property.
B. Locate the boundary lines.
C. Determine the loan amount.
D. Estimate the property taxes.
Answer: A. Provide an estimate of the selling price for the property.
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The rate of commission for the sale of real property is set by
A. the real estate law. B. local real estate boards. C. the real estate commissioner. D. agreement between the parties.
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A seller accepted a proper offer in writing to purchase his property. He then refused to complete the transaction. If the buyer were to bring suit for failure to perform the contract, under the statute of limitations he would need to do so within:
A. 1 year B. 2 years C. 3 years D. 4 years
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