SALESPERSON ONLINE COMPUTRAINER - californiarealestatecourses. com Question: A broker's authority to accept a deposit on behalf of the seller (or to hold a deposit check pending acceptance of an offer) comes from which of the following: A: Deposit receipt; B: Escrow instructions;
listings; PURCHASE SALES AGREEMENTS Flashcards - Quizlet It generally will authorize the broker to accept a deposit on behalf of the seller, but will not authorize the broker to sign contracts for the seller or bind the seller to a contract The broker cannot promise a buyer that an offer will be accepted even if the offer meets the terms of the listing, because the listing is not an offer to sell
Where does a broker get the authority to accept an earnest money deposit? A broker gets the authority to accept an earnest money deposit from the seller through a listing agreement This agreement allows the broker to act on the seller's behalf in real estate transactions When buyers make an offer, they provide this deposit to show commitment to the sale
Question of the Day - PrepAgent If the scope of authority of a real estate broker is limited to just producing a buyer, the broker does not have the authority to collect a deposit on behalf of the seller When an agent does collect a deposit in this case, the agent is acting as an agent for the buyer (offeror) and not the seller
Listing Agreements Practice Exam Flashcards - Quizlet In a usual listing agreement, the broker is authorized to: Find a purchaser and accept a deposit To create a valid listing for the purpose of selling real estate, a broker must have:
Real Estate Broker Engagement and Listing Agreement Use Option A to authorize the broker to accept the deposit as both the seller’s and buyer’s agent Option A may be used in conjunction with Option B below Generally, escrow agents—not brokers—hold the deposit and this provision would not be necessary
A brokers authority to accept a deposit on behalf of the seller (or to . . . This agreement outlines the terms and conditions under which the broker can handle deposits on behalf of the seller in real estate transactions California Civil Code also provides important guidelines for real estate transactions related to deposits and contractual agreements
Flashcards - rep ch 8 - FreezingBlue. com Explanation: Accepting a buyer's deposit was within the agent's scope of authority, as authorized by the seller Therefore, the seller bears the risk of loss of the deposit
Real Estate Laws of Agency Flashcards - Quizlet A deposit will be accepted and retained by the broker from the offeror, but only as agent for the offeror; If a broker is not authorized by the seller to accept a deposit, he is the agent of the buyer (offeror) for that one act