Asked by Lizet Garcia on Apr 27, 2024
Verified
Which of the following should 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) All of these choices are correct.
Designations
Official titles or labels assigned to individuals, organizations, or locations based on their roles or characteristics.
Repairs
Actions taken to restore something damaged or worn to a good or working condition.
- Identify the essential elements and legal requirements of a real estate transaction, including offers, closings, and the role of escrow.
Verified Answer
PM
Purva ManiarApr 30, 2024
Final Answer :
D
Explanation :
An offer to buy real estate should include a description of the property to clearly identify it, the price being offered for the property, and designations of which party will bear the costs of any necessary repairs. These elements are essential for creating a clear and enforceable agreement between the buyer and seller.
Learning Objectives
- Identify the essential elements and legal requirements of a real estate transaction, including offers, closings, and the role of escrow.