The Colorado Contract to Buy and Sell includes a Title Objection Deadline. If the buyer fails to submit title objections by this deadline:
Why The buyer waives the right to object to title matters disclosed in the title commitment Is Correct
Answer B: The buyer waives the right to object to title matters disclosed in the title commitment
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.
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Key Terms to Know
A condition in a purchase contract that must be satisfied before the sale can proceed to closing.
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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
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