Question

A brokerage can use a summary document under the following conditions:

- the seller's brokerage receives the offer on behalf of the seller
- the offer is made through a brokerage on behalf of the buyer
- the offer did not result in a transaction meaning the offer was not accepted
- the summary contains all required information

Answer 1

A summary document can be used by a brokerage under specific conditions to present an offer and its details without disclosing transaction specifics.

Step-by-step explanation:

A summary document can be used by a brokerage under the following conditions:

1. The seller's brokerage receives the offer on behalf of the seller.
2. The offer is made through a brokerage on behalf of the buyer.
3. The offer did not result in a transaction, meaning the offer was not accepted.
4. The summary contains all the required information.

By meeting these conditions, a brokerage can use a summary document to present the offer and its details without going into the specifics of the actual transaction. This document ensures that all parties involved have a clear understanding of the terms and conditions of the offer.