Since the issues in many transactions are similar, brokers often use standard preprinted contract forms. Generally, the best standard form contracts are those prepared and approved by which of the following parties?
A) Office supply firm
B) Seller
C) Local Board of Realtors
D) Web source of generic legal forms

Question

Quizplus · Accepted Answer

Standard preprinted contract forms prepared and approved by Local Board of Realtors are considered the best as they are reviewed, updated and improved regularly to ensure they meet legal requirements and are fair to all parties involved in the transaction. Office supply firms and web sources of generic legal forms do not have the same level of expertise or knowledge of real estate law as the Local Board of Realtors. Sellers may have a biased interest in the contract terms.

Since the Issues in Many Transactions Are Similar, Brokers Often