Real Estate Quiz!

I just came back from Rome. And when in Rome you are supposed to do as the Romans. If only, newbies to Florida would take that advice.

Florida is one of the most transient states. People come from New York, California, Canada, South America. Just about everywhere. So, us Realtors not only have the challenge of getting our Buyers and Sellers to understand real estate laws in Florida, but we deal with the challenge of having people want real estate to be as it is from where they come from. However, that is not the case. So, lets see how good you are at understanding our AS IS Contract which is the most prevalent contract used in Florida residential transactions. And if you score 10 out of 10 on the Quiz, give me a call. We always need good agents.

What is the default number of days for an AS IS Contract?

Here is your help line use throughout the Quiz: https://www.echofineproperties.com/buying/contracts/. Download the contract. Cheating is allowed!

Answer: CLICK HERE!

2. If the buyer cancels within the AS IS effective date, how much money is owed?

Answer: CLICK HERE!

3. During the inspection period, for an AS IS contract, the Buyer can cancel the contract for any reason at their sole discretion. True or False?

Answer: CLICK HERE!

4. The Seller is allowed to cancel an AS IS contract within the default time period after it has been executed. True or False?

Answer: CLICK HERE!

5. What section is TIME under in an As IS contract *

Answer: CLICK HERE!

6. The following time periods cannot end on a Saturday, Sunday or Holiday: Escrow Deposit(s), Inspection Period, Loan Commitment and Closing. True or False?

Answer: CLICK HERE!

7. Any changes made to a contract must be initialed by both Buyer and Seller. True or False?

Answer: CLICK HERE!

8. Can your agent sign for you if you ask them?

Answer: CLICK HERE!

9. Is a Seller legally required to fill out a Seller’s Disclosure in Florida?

Answer: CLICK HERE!

10. If a property is homesteaded by only ones spouse, do both spouses need to sign on listing agreements and contracts?

Answer: CLICK HERE!

Jeff Lichtenstein, originally from Chicago, got his start in the home furnishings textile business where he traveled over 35 weeks a year selling fabrics. After the family business was sold, Jeff moved to Florida and became a real estate agent. Today he is the owner and broker of Echo Fine Properties, a luxury residential brokerage voted best brokerage of the year. Jeff manages a non-traditional model of real estate that mimics a traditional business model. Echo has 80 agents, an average of one million dollars per transaction and over 500 million in annual sales. Between traveling for work and annual family trips to national parks with his wife and 2 now adult children, Jeff has visited 49 states. He is also one of the few Chicago White Sox fans you’ll ever meet. Some publications he has been quoted in.

Feel free to ask him a question directly at [email protected] including a complementary valuation of your home.

Posted in Open House Blog, Real Estate Tips on July 15, 2023 at 6:51 am.

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Real Estate Quiz!

Posted on: July 15, 2023July 15, 2023

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Real Estate Quiz!