New Jersey Real Estate Practice Exam Practice Question
A home warranty offered to a purchaser on the condition that the purchaser sign a contract to buy a listed property may be paid for by the:
Correct Answer: C
Rationale: A home warranty is typically considered a seller's incentive to attract buyers, making it logical for the seller to cover the cost. This enhances the property's appeal and can facilitate a smoother transaction.
Option A, the listing broker, usually does not pay for warranties as their role is to market the property, not to incur additional costs. Option B, the selling broker, represents the buyer and generally does not pay for warranties related to the property being sold. Option D, the listing salesperson, is an agent and would not personally bear this expense, as it is the seller's responsibility to provide such incentives.
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