Virginia State Real Estate Exam Practice Question
When should prospective buyers be screened for financial capability?
Correct Answer: A
Rationale: Screening prospective buyers for financial capability should occur prior to showing any listed properties. This step ensures that both the buyer and the agent invest time effectively, focusing only on properties within the buyer's financial reach.
Option B, screening after showing properties, can lead to wasted resources if buyers are not financially qualified. Option C, after signing a sales contract, is too late, as it may result in complications or failed transactions. Option D, on the day of closing, is impractical and could jeopardize the sale, as financing issues would need to be addressed much earlier in the process.
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