Question

What are some of the key details typically included in a trade record sheet for a real estate transaction, as per the provided information?

A. Financial transactions, legal descriptions, and property dimensions.
B. Names of involved parties, contact information of lawyers, and completion date.
C. Nature of trade, sale price, and commission receivable to the brokerage.
D. Property condition, renovation history, and zoning information.

Which option accurately lists the key details that are commonly documented in a trade record sheet for a real estate transaction?

Answer 1

The trade record sheet for a real estate transaction commonly includes the nature of the trade, sale price, and the commission receivable to the brokerage. It is a record of the financial and contractual aspects of a real estate transaction.

Step-by-step explanation:

The key details that are commonly documented in a trade record sheet for a real estate transaction typically include the nature of trade, such as whether it is a purchase or a lease, the sale price of the property, and the commission receivable to the brokerage involved in the transaction. This document serves as a record of the financial and contractual aspects of the trade. It's important to note that while information like financial transactions, legal descriptions of the property, and contact information of involved parties are relevant to a real estate trade, the trade record sheet focuses on the specifics of the transaction itself rather than the broader context or condition of the property. Although the trade record could reference other documents where such additional details are recorded, these are not typically the primary focus of the trade record sheet.