Texas Real Estate Paper 43

1

What is the stated purpose of the Texas Real Estate Recovery Fund?






2

A landlord refuses to return a security deposit to a tenant who has fulfilled the terms of the lease, returned the keys to the landlord, furnished a forwarding address, and left the premises in good condition by most people’s standards. What remedy is available to the aggrieved tenant?






3

What entity licenses and regulates property tax consultants?






4

Using the Texas Real Estate Commission promulgated One- to Four-Family Residential (Resale) form, which of the following is NOT acceptable language for Paragraph 11, Special Provisions?






5

A broker has a listing agreement signed by a seller, and a buyer representation agreement signed by a buyer who is interested in purchasing the seller’s property. Both parties have granted the broker permission to function as an intermediary through the written representation agreements. The buyer tells the broker that if he is successful in acquiring this property, he plans to purchase the surrounding property also. What should the broker tell the seller about this information?






6

Under the Canons of Professional Ethics and Conduct for brokers and salespersons, as promulgated by the Texas Real Estate Commission, what is the primary duty of real estate agents?






7

Gertrude Goodheart always said that her two best friends would inherit her property when she died. Six months ago, she died without having gotten around to writing a will. She has no living relatives. What will happen to her property?






8

A seller received an offer last evening and is considering how to respond to it. While the seller is still thinking about the first offer, another offer is given to the listing agent. What should the listing agent do?






9

Which of the following people would need to obtain a real estate license if they were involved in a real estate activity?






10

When does an offer become a binding contract?






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