What is the sales price in 3.C. always based on?

Study for the Texas Promulgated Contracts Exam. Gain understanding with detailed explanations and various question formats. Prepare effectively and ace your test!

The sales price in section 3.C. is based on the total of various components relevant to a real estate transaction. When determining the sales price, it encompasses the sum of the loan amount, any cash portion provided by the buyer, and the down payment. This reflects a comprehensive view of the financial commitment involved in purchasing a property.

By recognizing that the sales price incorporates all these elements, it aligns with the understanding that it must consider both the financing obtained (the loan amount) and the contributions that the buyer is making upfront (the down payment and cash portion). Each of these factors contributes to establishing the total sales price for the property being sold.

Thus, the correct understanding is that the sales price can indeed be calculated as 3.A. plus 3.B., where each component—loan amount, cash, and down payment—is reflected, confirming that the overall framework is holistic in its approach to assessing the sales price.

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