Contracts
In Maine, 'consideration' in a real estate contract refers to:
AA fee paid to the real estate agent
BSomething of value exchanged between the parties✓ Correct
CThe property's assessed value
DThe closing costs paid at settlement
Explanation
Consideration is something of value exchanged between the contracting parties. In a real estate purchase, the consideration is typically the purchase price paid by the buyer in exchange for the deed.
Related Maine Contracts Questions
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