1. What is the role of a Transaction Coordinator in an Escrow? What is an advantage of being a licensed TC versus being unlicensed?
2. Why is it important to have a detailed checklist of all required documentation for an Escrow Transaction file? What is the minimumnumber of years after closing a Broker's transaction file must be available for a Cal DRE audit?
3. An Escrow officer is said to what type of duty to their Principles? Why is having this type of duty important?
4. Describe the 6 elements that are critical for a valid Contract?
5. Explain the use of a Grant Deed and what are its two implied warranties? What important aspect is not included in a Grant Deed's implied warranty?
6. What is the importance of having Title Insurance and what does it cover?