Asked by Michelle Schneider on Apr 28, 2024

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Verified

Which of the following does not need to be specified in an offer to buy real estate?

A) A description of the property
B) The price of the property
C) Designations of which party will bear the costs of repairs needed on the property
D) None of these choices is correct.

Designations

Titles or labels used to indicate status, qualifications, or specific roles within an organization or profession.

Repairs

The act of fixing or restoring something that is damaged, broken, or not functioning properly.

  • Perceive the essential ingredients and statutory criteria for a real estate transaction, including proposition stages, closure events, and the escrow’s contribution.
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Verified Answer

AK
Alana KrieserMay 02, 2024
Final Answer :
D
Explanation :
In an offer to buy real estate, it is essential to specify a description of the property and the price of the property to make the offer valid and enforceable. However, designations of which party will bear the costs of repairs needed on the property are typically negotiated and agreed upon after the initial offer, often as part of the inspection and due diligence process, rather than being a requirement for the offer itself. Therefore, all the choices listed are elements that can be part of an offer, but not all are strictly necessary to constitute a valid offer.