An Alaska seller's agent suggests the seller include a 'home warranty' in the sale to increase buyer confidence. A home warranty typically covers:
Why Repair or replacement of major systems and appliances that fail during the warranty period after closing Is Correct
Answer B: Repair or replacement of major systems and appliances that fail during the warranty period after closing
Exam Tip: Contracts
Contract questions frequently test the essential elements required for a valid contract. Remember: competent parties, mutual consent, lawful object, and sufficient consideration. Watch for void vs. voidable distinctions.
People Also Study
Related Alaska Questions
- An Alaska purchase agreement includes a home inspection contingency. The inspector finds a cracked heat exchanger in the furnace. The buyer requests the seller repair it. If the seller refuses, the buyer may:Contracts
- An Alaska buyer purchased a home for $380,000 and sold it 3 years later for $425,000. What was the percentage increase in value?Real Estate Math
- A listing expires without a sale. Three weeks later, the seller accepts an offer from a buyer who was shown the property by the original agent during the listing period. Under most Alaska listing agreements, the seller may owe a commission if:Agency
- A lot in Alaska is 150 feet wide and 200 feet deep. A developer wants to build a structure that covers no more than 35% of the lot (lot coverage ratio). What is the maximum footprint?Real Estate Math
- A buyer in Alaska paid $345,000 for a home and wants to net $400,000 after a 5% commission when they eventually sell. What minimum sale price must they achieve?Real Estate Math
- An Alaska appraiser adjusts a comparable sale downward by $10,000 because the comparable has a garage and the subject does not. This adjustment suggests the market values a garage at approximately:Property Valuation
- An Alaska buyer's agent who discovers a previously unknown structural problem during a home visit should:Agency
- An Alaska purchase agreement provides that the buyer may cancel the contract if the property fails a home inspection for any reason. This type of contingency is called a(n):Contracts
Key Terms to Know
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Study This Topic
Practice More Alaska Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free Alaska Quiz →