QUESTION 13 Mike makes an offer to Maria to purchase her real estate for $80,000. Before Maria accepts the offer, Maria receives another offer. Mike's offer may be terminated by: O Mike's revocation O Maria's rejection O Maria's counteroffer O all of the above QUESTION 14 Diane and Billy enter into a real estate sales contract whereby Diane is to purchase Billy's real estate for $50,000. Diane will purchase the real estate with a VA loan. As part of the requirements for the loan, the lender requires certain repairs to be made to the house. In the real estate sales contract form, there is a provision that discusses lender required repairs and treatments. According to this paragraph, Diane may terminate the contract if the cost of lender required repairs exceeds of the sales price. O 1% O 5% O 10% O 15% QUESTION 15 Larry and Casey enter into a real estate sales contract for the purchase and sale of Larry's house. Casey and Larry agree that Larry will seller finance the purchase. In a real estate sales contract that involves seller financing, the use of escrow for taxes and insurance is: O optional, but preferable O mandatory regardless of sales price O optional only if the sales price does not exceed $100,000 O optional only if the sales price does not exceed $150,000