A company has reached the end of a contractual agreement with a vendor and wants to open it up for bid again before signing a new contract. This type of purchase situation is a:

A seller gives a real estate broker a net listing in the amount of $200,000. If an offer comes in for $150,000, the broker should:

a. hold the offer until other offers have been submitted b. hold the offer until an offer comes in that provides the broker with a commission c. present the offer to the seller d. not accept the offer because the broker will not be paid a commission

On a closing statement which of the following items would MOST LIKELY be a debit to the seller:

A. Insurance policy refund. B. Transfer tax. C. Sale of personal property. D. Property sale price