New Jersey Real Estate Practice Exam Free Practice Question
A listing agent presents a signed offer to a seller who then changes the amount of the down payment. Before presenting the counteroffer to the buyer, the New Jersey Real Estate License Law requires the listing agent to
Correct Answer: B
Rationale: In this scenario, securing the seller's initials confirming the revision is essential to ensure that all parties are fully aware and in agreement with the changes made to the offer. This step provides clarity and prevents misunderstandings, maintaining the integrity of the negotiation process.
Option A is incorrect as obtaining the consent of the listing broker is not specifically mandated for a seller's counteroffer revision. Option C, preparing a separate addendum, may be unnecessary if the revision can be confirmed with initials. Option D, while informative, does not provide the necessary legal confirmation of the seller's intent regarding the counteroffer.
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