Iowa License Law
Iowa IREC rules require that all purchase agreements handled by a licensee include which required element?
AThe IREC license number of all agents involved
BA complete legal description of the property sufficient to identify it✓ Correct
CThe county assessor's valuation of the property
DThe names of all neighbors within 500 feet
Explanation
Iowa purchase agreements must include a legally sufficient description of the property being sold. An adequate property description is essential for identifying the subject of the contract and is required for the deed that will convey title at closing.
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