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Who acts as the principal to the listing broker quizlet?A In real estate transactions, the listing broker acts as an agent for the seller, who is the principal. 2.
What should a salesperson do with the earnest money deposit she receives from a buyer?If accepted, the buyer's earnest money is deposited into an escrow account, which will serve as liquidated damages if the buyer defaults or a downpayment on the property if the sale closes.
Which of the following liens are not eliminated by a foreclosure sale?Following a first-mortgage foreclosure, all junior liens (including a second mortgage and any junior judgment liens) are extinguished, and the liens are removed from the property's title. But the second-mortgage debt and creditor's judgment remain, even though they're no longer attached to the foreclosed property.
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