Contracts
A 'subject to' clause in a real estate purchase contract typically means:
AThe seller will carry a second mortgage
BThe purchase is contingent upon a specified condition being met✓ Correct
CThe buyer waives all inspections
DThe contract is subject to AREC approval
Explanation
A 'subject to' or contingency clause makes the contract dependent on a specified condition, such as the buyer obtaining financing, the property appraising at value, or the home inspection being satisfactory.
Related Arkansas Contracts Questions
- A seller accepts an offer and then receives a higher offer before closing. The seller may:
- Liquidated damages in a real estate contract are:
- Which statement is true about an 'as-is' sale and seller disclosure in Arkansas?
- An as-is clause in a real estate contract generally means:
- A lease for more than one year in Arkansas must be:
- A buyer and seller agree to extend the closing date. To be enforceable, this modification should be:
- A land contract (contract for deed) is an arrangement where:
- A seller's agent learns the buyer's offer contains a financing contingency for an amount lower than the purchase price. The agent should:
Practice More Arkansas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arkansas Quiz →