Topic 7.8: Practice Activities Copy

Topic 7.8: Practice Activities Copy

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Question 1 of 4

1. Question
A contract without an earnest money deposit is valid.
- True
- False
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Question 2 of 4

2. Question
Sellers of homes built before 1989 must give buyers a lead-based paint hazard disclosure.
- True
- False
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Question 3 of 4

3. Question
Which statement is NOT correct about contracts for sale and purchase of residential property?
- The seller is the vendee.
- If not stated in the contract, the seller must give a warranty deed.
- A spouse who lives in a home with her husband who is the sole owner, will have to sign the sales contract and the deed in order to complete the sale.
- Letters and faxes can be part of a valid sales contract.
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Question 4 of 4

4. Question
Which statement about disclosures is correct?
- Chapter 475 requires licensees to disclose known residential property defects.
- If the seller does not give the homeowner’s association disclosure before the buyer signs the contract, the contract is void.
- Sellers must provide homebuyers a 30-day period to conduct an inspection or risk assessment for lead-based paint or lead-based paint hazards.
- The Florida Energy-Efficiency Rating Act requires that sellers conduct an energy-efficiency rating at their expense.
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