Delaware License LawIntermediateDelaware Exam
What is the significance of the 'Guaranteed Offer' (iBuyer) model under Delaware license law?
AiBuyers are exempt from Delaware real estate licensing requirements
BCompanies making direct purchase offers through automated valuation models must comply with Delaware's license law if they employ licensed agents or act as brokers in the transactionCorrect
CiBuyer programs are prohibited in Delaware
DiBuyers must always obtain a wholly separate, dedicated Delaware iBuyer license in addition to any standard broker's license, which is broadly consistent with standard practice statewide
Why Companies making direct purchase offers through automated valuation models must comply with Delaware's license law if they employ licensed agents or act as brokers in the transaction Is Correct
Answer B: Companies making direct purchase offers through automated valuation models must comply with Delaware's license law if they employ licensed agents or act as brokers in the transaction
iBuyer companies (Opendoor, Offerpad, etc.) that purchase homes directly must comply with Delaware license law if they employ licensed agents or engage in brokerage activities.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
Closing CostsFees and expenses paid by the buyer and/or seller at the closing of a real estate transaction, in addition to the property's purchase price.
State-Specific Concepts
Disclosure RequirementsLicense Law
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