Listing Documents Glossary Quiz
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Questions and Answers

What is the meaning of the orange color code in the document glossary?

  • A required document
  • A document that is sometimes required, depending on the transaction (correct)
  • A document that is only shared with the seller
  • A document that is not signed by the seller

    • Who signs the Seller’s Net Sheet (NS) document?

  • Only the listing agent
  • Only the seller (correct)
  • Neither the seller nor the listing agent
  • Both the seller and the listing agent

    • What is the typical expiration date for the listing contract?

  • 2 years
  • 3 months
  • 1 year
  • 6 months (correct)

    • Who signs the POA disclaimer for SPD?

    <p>Either the seller or the person with POA</p> Signup and view all the answers

    What is required for all residential properties?

    <p>A completed SPD document</p> Signup and view all the answers

    What happens after submitting the SPD document to KW?

    <p>The document is reviewed for corrections needed</p> Signup and view all the answers

    What happens to the Property Description Sheet after it's completed?

    <p>It's uploaded to Command for our records only</p> Signup and view all the answers

    Who signs the LPD document?

    <p>The seller and the listing agent</p> Signup and view all the answers

    When is the Change to XLS document required?

    <p>Only when changes are made to the contract after it’s been signed</p> Signup and view all the answers

    What happens to the Offer / AOS documents after they're completed?

    <p>They're uploaded to Command and sent to appropriate parties</p> Signup and view all the answers

    What is the purpose of the compliance check?

    <p>All of the above</p> Signup and view all the answers

    When can the SPD be blank?

    <p>When it's an estate sale or POA</p> Signup and view all the answers

    What is the purpose of the AOS document?

    <p>To outline the terms of the sale and any contingencies</p> Signup and view all the answers

    When is the MC date important to check?

    <p>During the UC processing</p> Signup and view all the answers

    Who signs the SPD?

    <p>Buyer and seller</p> Signup and view all the answers

    What is the purpose of the LPD?

    <p>To disclose lead-based paint in homes built before 1978</p> Signup and view all the answers

    What happens to the executed AOS?

    <p>It is uploaded to Command and sent to applicable parties</p> Signup and view all the answers

    What is the purpose of the updated SNS?

    <p>To reflect changes in the sale terms</p> Signup and view all the answers

    What happens to the-signed ALTA?

    <p>It is uploaded to Command and added to the closed form</p> Signup and view all the answers

    Who completes the Utility Info Sheet?

    <p>Seller</p> Signup and view all the answers

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