Property Ownership
A Kentucky seller receives a full-price cash offer with no contingencies. The seller must:
AAccept the offer because it meets the listing price
BConsider the offer but has no legal obligation to accept any offer✓ Correct
CNegotiate for a higher price since there are no contingencies
DNotify KREC before accepting
Explanation
Sellers in Kentucky (as elsewhere) are never legally obligated to accept any offer, even one at full price. The listing is an invitation to make offers, not an offer itself.
Related Kentucky Property Ownership Questions
- Which type of deed provides the greatest protection to the grantee?
- An easement in gross in Kentucky benefits:
- In Kentucky, a property owner who grants a conservation easement gives up certain development rights but retains:
- A severance of mineral rights from surface rights in Kentucky means:
- A Kentucky property owner grants an easement to the electric company to run power lines across the property. This easement is classified as:
- In Kentucky, a condominium owner holds:
- An easement appurtenant benefits:
- Which of the following would be considered personal property (personalty)?
Practice More Kentucky Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kentucky Quiz →