Question
Dom properly engaged Chris to find a buyer for Doms personal residence, and in exchange promised to pay Chris a 4% commission on the sale.
Dom properly engaged Chris to find a buyer for Doms personal residence, and in exchange promised to pay Chris a 4% commission on the sale. Chris found interested buyer Rose and Dom and Rose entered into a real estate contract for Rose to purchase the residence for $500,000, being the full fair market value of the residence. Closing of the sale is to take place thirty days from the date of the contract of sale.
In order to help protect their respective interests upon conclusion of the above closing of sale,
a. Dom should have the deed he transferred to Rose recorded in the appropriate real property recording office as soon as possible
b. Rose should have the deed she received from Dom recorded in the appropriate real property recording office as soon as possible
c. Any mortgage loan lender Rose borrowed from to allow her to complete the purchase should record the related mortgage in the appropriate real property recording office as soon as possible
d. all of the above
e. b. and c. above are correct
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started