Promulgated Contract Forms (Champions) Answered Correctly!!

Paragraph 4 {Ans: familial relationship must be disclosed}options in case of seller default {Ans: specific performance, monetary damages, refund of earnest money}imputed notice {Ans: under this concept, an offer is presumed to have been delivered to the principal when it is delivered to the agent}steering {Ans: taking buyers/renters to or away from certain areas based on race, religion, etc. Most common cause for complaint under the law}rollback taxes {Ans: tax assessed when a property no longer has an agricultural exemption}net sheet {Ans: an estimate of the net proceeds to the seller and should be prepared based upon the offer being considered}options when responding to an offer {Ans: do nothing; reject; accept; counteroffer}non-realty items addendum {Ans: used when personal property is to be included in a sale}amendment {Ans: changes to the contract; common ones include changes to the closing date, changes to the sales price, down payment or amount finances, repairs the the seller agrees to perform, removal or waiver of contingencies}communication {Ans: also referred to as notification}consumer information form {Ans: should be displayed prominently at broker's office}prorations {Ans: expenses divided between parties at closing}option period {Ans: the