1,713,576
That is not a copmmon term in Oklahoma but as others have said there is not real contract unless in writing and agreed to by all parties as I understand it.
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Debe Maxwell, CRS
Charlotte, NC
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Nina Hollander, Broker
Charlotte, NC
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Ron and Alexandra Seigel
Carpinteria, CA
6,624,577
An Express contract is in writing, while we hear more issues with Implied contracts.
Implied contracts are common when agents work with buyers without taking the time to get a Buyers agency signed and start advising and talking like they are representing the buyer.
The buyer thinks they have an agent while the agent is really contractually obligated to serve the needs of the Seller.
Please dont take this as legal advice though since I am not a lawyer, seek a lawyer for real advice on contracts, and your instructor may have some insight on this too.
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Debe Maxwell, CRS
Charlotte, NC
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Carol Williams
Wenatchee, WA
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Bob Crane
Stevens Point, WI
5,252,155
All signed contracts in writing are express rather than implied contracts.
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Richard Weeks
Dallas, TX
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Carol Williams
Wenatchee, WA
2,227,228
5,440,249
Express = written vs. implied, which is not a Contract in either of my states (NC or SC).
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Anthony Acosta - ALLAT...
Atlanta, GA
2,283,193
The problems tend to lie in "Implied contracts". That becomes a "He said. She said" scenario. "Express contracts" are in writing and need to be specific as to the terms and conditions.
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Debe Maxwell, CRS
Charlotte, NC
670,411
This is a question that should have been or to be explained to you by your instructor.
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Debe Maxwell, CRS
Charlotte, NC
1,415,065
I am assuming the answer is in you studies.
I know it is not an Implied Contract.
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Debe Maxwell, CRS
Charlotte, NC
1,530,744
5,065,806
8,084,775
Take a look at the contract used in your area.
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Debe Maxwell, CRS
Charlotte, NC
5,773,924
I think you have answers here, and I wish you good luck. A
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Nina Hollander, Broker
Charlotte, NC
1,598,552
5,964,801
3,986,423
3,408,480
4,800,282
I am curious as to what the purpose of asking questions in this forum serves for your real estate course?
5,425,328
Beginning to think you need to check your state statutes. And, suggest your instructor do the same.
4,434,227