In Arizona, a 'seller's right to cancel' provision in a listing agreement allows the broker to:
Why Charge a cancellation fee if the seller cancels without cause before expiration Is Correct
Answer B: Charge a cancellation fee if the seller cancels without cause before expiration
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.
Key Contracts Terms in This Question
People Also Study
Related Arizona Questions
- An Arizona listing agreement gives a broker the right to sell a property, but the seller retains the right to sell it themselves without owing a commission. This is called a(n):Contracts
- Under Arizona law, a listing agreement must include:Contracts
- The government's right to take private property in Arizona for public use — with just compensation — is known as:Property Ownership
- Arizona allows married couples to hold title as 'community property with right of survivorship.' The primary advantage of this form of ownership is:Property Ownership
- An Arizona listing agent learns from the seller that the home's roof has leaked for years but has been cosmetically patched. The agent shows the home to a buyer without disclosing the roof history. This is MOST likely a violation of the agent's duty of:Agency
- Arizona community property with right of survivorship allows:Property Ownership
- In Arizona, a listing agreement is a contract between the seller and the:Contracts
- An exclusive right-to-sell listing agreement in Arizona entitles the listing broker to a commission if:Contracts
Key Terms to Know
A contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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.
Earnest MoneyA 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.
Study This Topic
Practice More Arizona Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free Arizona Quiz →