In Colorado, who typically selects the title company in a residential real estate transaction?
Why It is negotiable — either the buyer or seller may select the title company, and the contract specifies who pays Is Correct
Answer B: It is negotiable — either the buyer or seller may select the title company, and the contract specifies who pays
Exam Tip: Escrow & Title
Escrow questions test the neutral third-party role and the sequence of closing events. Remember that the escrow agent acts as a dual agent for both buyer and seller and cannot advocate for either side.
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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.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
Math Concepts
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