All of the above Question 12 Explanation:
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Ready, able and willing buyer is an expression used to describe a prospective purchaser who is in a position to sign a binding contract; one who is prepared, legally capable, and financially able to purchase a property.
Question 2 Unpaid property taxes can create a property lien and any liens on a property can create a title problem. The best strategy for an agent is to A understand that the taxes must be current before a seller can legally enter a sales contract B thoroughly investigate the property tax payment status of the property C rely on the property owner's tax representation D let the title company worry about the property taxes Question 2 Explanation: Tax Assessor's Extraction Data: Many agents subscribe to a tax record search that discloses the complete records on file at the tax assessor's office.
This information can include the original age of the home, type of roof, number of rooms, among other data. If the tax assessor records show a different square footage than noted in the listing, either the tax assessor is wrong, the seller is wrong or the property has improvements for which a permit was not obtained.
Buyers can check with their city planning department to find out if a permit was obtained. Tax Assessors generally provide public access to their records either online or through visiting their office. Due diligence is critical in this area.
A Title company will always do a lien search before issuing a Title policy, but it is advisable to have this information before entertaining offers on a listing.
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