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Buyer Agency Agreement Quiz - Pages 1 and 2

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12 Questions

What must be in place for sellers to treat the terms of an offer as confidential?

A confidentiality agreement between Buyer and the seller

What type of professionals does the text recommend Buyer consult for financial, legal, or other advice?

Accountant, lawyer, or other appropriate professionals

What is the responsibility of Pennsylvania real estate agents according to the text?

To be licensed and disclose adverse factors about properties

If Buyer requests information beyond the real estate agent's expertise, what is the recommended course of action?

Seek advice from an appropriate professional

What document states that the paragraph regarding confidentiality will survive contract termination?

The Contract itself

If Buyer desires specific financial advice related to a property, what action is recommended by the text?

Seek services of an accountant or lawyer

What must Pennsylvania real estate agents do to operate legally?

Obtain a license from the Commonwealth of Pennsylvania

What is required for sellers to treat the terms of an offer as confidential?

Confidentiality agreement between Buyer and Seller

What is the responsibility of Pennsylvania real estate agents?

To disclose adverse factors about a property that are reasonably apparent

If Buyer wants information outside the Broker's area of expertise, what is recommended in the text?

Seek advice from an appropriate professional

What will happen to the paragraph on confidentiality after the termination or expiration of the contract?

It will survive the termination or expiration of the contract

How do you briefly explain the Buyer Agency Agreement to a buyer? (Role play)

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