Virginia Real Estate Exam Practice Question
A licensee is preparing a purchase offer for their buyer client. Its a fairly standard offer: a little less than list price, with the seller paying a little toward the buyers closing costs. The licensee fills in the blanks on a standard form used in their brokerage, based on the current situation. Is this okay?
Correct Answer: D
Rationale: Using standard forms approved by an attorney is permissible for licensees, as these forms are designed to comply with legal standards and protect all parties involved. This ensures that the offer is valid and enforceable, aligning with industry practices.
Option A is incorrect since licensees can fill out standard forms as long as they are not creating custom contracts, which would require legal expertise.
Option B is misleading; while clients can draft offers, licensees are trained to assist in this process using approved forms.
Option C is unnecessary, as hiring an attorney for standard forms is not required and may lead to added costs and delays.
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