Contracts
A Utah purchase contract with a 'subject to sale of buyer's property' contingency means:
AThe buyer must sell their current home before the sale can close✓ Correct
BThe seller must verify the buyer's current home is for sale
CThe transaction is contingent on the sale of both properties simultaneously
DThe buyer's agent must list the buyer's current home
Explanation
A 'subject to sale' contingency makes the purchase conditional on the buyer selling their existing home, usually within a specified timeframe. Sellers often negotiate a kick-out clause allowing them to accept other offers while waiting for the buyer's home to sell.
Related Utah Contracts Questions
- The 'entire agreement' clause in a Utah purchase contract means:
- An assignee of a Utah real estate purchase contract takes the contract:
- Which of the following would NOT make a contract voidable in Utah?
- Under Utah law, a purchase contract signed by a 17-year-old buyer is:
- An installment land contract (contract for deed) in Utah means:
- In Utah, a real estate contract signed by a minor is:
- A Utah buyer who removes all contingencies in their purchase contract but the deal later falls apart due to financing:
- The anti-fraud provisions of Utah contract law require that to be enforceable, a real estate contract must be:
Practice More Utah Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Utah Quiz →