Contracts
Consideration in a real estate contract can be:
AOnly money
BAnything of legal value, including money, property, or a promise to perform✓ Correct
COnly a promise to pay money at closing
DOnly the down payment amount
Explanation
Consideration is anything of legally sufficient value given in exchange for a promise or performance. In real estate contracts, consideration includes the purchase price, earnest money, or a promise to perform. Even nominal consideration (e.g., $1) is sufficient.
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