Contracts
A real estate contract is 'executed' when:
AThe agent signs the contract
BAll parties have signed and all terms are performed✓ Correct
CThe purchase price is agreed upon
DThe property is listed on the MLS
Explanation
An executed contract is one where all parties have signed AND all contractual obligations have been fully performed. This is distinguished from an 'executory' contract where some obligations remain.
Related Nebraska Contracts Questions
- A 'backup offer' in Nebraska real estate means:
- When a buyer defaults on a purchase agreement, the seller's remedies may include:
- Under Nebraska law, a listing agent who represents a corporation selling real property must ensure the contract is signed by:
- A real estate licensee who prepares a purchase agreement is NOT practicing law when they:
- In Nebraska, a lease agreement for more than one year must be:
- An escalation clause in a purchase offer automatically:
- A Nebraska buyer who backs out of a purchase agreement within the inspection contingency period and requests return of earnest money is:
- The term 'time is of the essence' in a real estate contract means:
Practice More Nebraska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nebraska Quiz →