Question 11

The standard preprinted clauses on a contract form SHOULD be reviewed with the buyer.

It is essential for the licensee to review the standard preprinted clauses on a contract form with the buyer to ensure that the buyer understands the terms and conditions being agreed to. This process helps to clarify any questions or concerns the buyer may have about the clauses.

A) modified

While modifying preprinted clauses might be necessary in some situations, it is not a standard requirement. The primary focus should be on ensuring the buyer comprehends the existing clauses rather than altering them without understanding their implications.

B) completed by an attorney

Though legal counsel can provide valuable assistance, it is not a requirement for an attorney to complete the standard preprinted clauses. Licensees can review these clauses with buyers to ensure comprehension without necessitating attorney involvement in every transaction.

C) reviewed with the buyer

Reviewing the standard preprinted clauses with the buyer is crucial. This practice ensures that the buyer fully understands their rights and responsibilities as outlined in the contract, thereby promoting informed decision-making.

D) notarized

Notarization of the preprinted clauses is not a standard practice in the offer to purchase process. Notarization typically relates to the signing of the entire document rather than the preprinted clauses themselves.

Conclusion

The necessity of reviewing the standard preprinted clauses with the buyer is paramount to ensure clarity and understanding in the purchasing process. Other options, such as modification, attorney involvement, or notarization, either do not address the core need for buyer comprehension or are not standard practices, making option C the most appropriate choice.