California law requires that an agency confirmation be included in:
Why The purchase agreement or separately before signing the purchase agreement Is Correct
Answer B: The purchase agreement or separately before signing the purchase agreement
Exam Tip: Agency
Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.
Key Agency Terms in This Question
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
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- In a California standard residential purchase agreement, when does an offer become a binding contract?Contracts
- The California Agency Disclosure law (Civil Code §2079) requires an agent to provide the Agency Disclosure form to buyers and sellers at what point in the transaction?Agency
- Under the Agency Disclosure requirements of California Civil Code Section 2079, a listing agent must provide the agency disclosure form to a seller:DRE & Licensing
- In California, which form confirms the agency relationship at the time a purchase agreement is executed?Agency
- The California Residential Purchase Agreement (RPA) is a contract that is primarily drafted by:Contracts
- Under a California Residential Purchase Agreement, how long does the seller typically have to respond to an offer before it expires?Contracts
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- Which of the following requires a separate endorsement in addition to a California real estate broker license?DRE & Licensing
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.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
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