A typical outline for questions covering “Selling Properties” on the Real Estate exam includes:

Ø       Contracts and Offers (for example, essential elements, which must be contained in a contract to make it valid and enforceable)

Ø       Sales contract provisions (identification of buyer and seller name, purchase price, financing terms, amount of earnest money paid by the buyer, date of closing and possession, inspection requirements, etc.)

Ø       Offers and Counteroffers (for example, binding agreement date; mailbox theory - when is an offer “accepted;” - options; contingencies; removing contingencies; etc.)