351 Promulgated Contract Forms - Lesson 9

Which paragraph in the One to Four Family Residential Contract allows you to indicate which addenda will be used in the transaction?

Paragraph 22, Agreement of Parties

The seller does not have a current survey of the property. How many days before the closing date must a new survey, at the seller's expense, be provided?

3 days

The seller has agreed to repair the front porch but he needs more time to finish. What is the maximum number of days the closing date can be delayed for repairs?

5

When must the seller permit the buyer to access the property?

At reasonable times

What information can be added to Paragraph 11 Special Provisions in the One to Four Family Residential Contract?

Business details applicable to the sale.

According to the One to Four Family Residential Contract, what expenses is the buyer prohibited from paying?

Certain VA fees

What substance is specifically excluded from the mineral estate?

Limestone

Where in the Farm and Ranch Contract would the seller list the improvements, accessories, and crops he or she will keep and remove prior to delivery of possession?

Exclusions

According to the One to Four Family Residential Contract, what expenses does the seller have to pay?

Releases of existing liens