Marcus and Lana enter into a real estate sales contract for the purchase of Marcus’ property. Lana received a large inheritance and will pay all cash for the real estate.

Marcus and Lana enter into a real estate sales contract for the purchase of Marcus’ property. Lana received a large inheritance and will pay all cash for the real estate. Because the property is located in a subdivision, Lana has elected not to obtain a policy of title insurance, and therefore, a title company is not involved in the transaction to complete the closing paperwork. Because there is no title company involved, Marcus’ listing agent has agreed to facilitate the closing process and prepare all necessary documents transferring the title to the real estate. The listing agent: O is permitted to prepare the documents transferring title as long as the parties are not charged for the extra services 0 is permitted to prepare the documents transferring title as long as Lana signs a waiver that she is comfortable being represented by the seller’s representative for the closing transaction 0 is permitted to prepare the documents transferring title as long as the fees for the preparation of the documents do not exceed 1% of the sales price O is not permitted to prepare the documents transferring title QUESTION 35 Rob, a buyer, and Carrie, a seller, enter into a sales contract for the purchase of Carrie’s real estate. The consideration in this sales contract between Rob and Carrie is referred to as atn): O promise in exchange for a promise O promise in exchange for performance 0 gift O money QUESTION 36 On the day of closing Denise, the purchaser, signed several documents to finalize the real estate purchase. Since Denise requested third party financing for the purchase, the lender, First Bank of the East, required Denise to sign a mortgage document for the lender’s benefit. What is another name for the mortgage document used in Texas? O deed of trust O warranty deed O security mortgage O real estate lien note