Houtan HormozianExpert on Real Estate, Finance and PropTech

CRESTICO Local Real Estate Mortgage Best Broker Los Angeles

31 Jul 2024 · 1 min

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In this short educational segment, the presenter poses two multiple‑choice questions aimed at real‑estate professionals. The first question asks for the term commonly used for a seller in land‑contract sales, identifying "Vendor" as the correct answer. The second question asks which type of contract obligates a party not to revoke an offer for a set period, with "Option" identified as the correct answer. The segment serves as a quick knowledge check on real‑estate terminology and contract fundamentals.

Questions this video answers

Vendor

Option

Chapters

Question of the day: The person who transfers property by sale— another word for seller— commonly used in land contract sales: A. Vendee. B. Trustee. C. Vendor. D. Trustor. Answer: C. Vendor. In which of the following contracts does one of the parties agree not to revoke an offer for a certain period of time? A. A. Ratification. B. Listing contract. C. Estate for years. D. An option. Answer: D. An option.