(advising a buyer how to take title to property to gain tax benefits, negotiating sales contract provisions on behalf of the buyer, providing a buyer with a list of mortgage lenders, researching comparable properties to help a buyer make an appropriate offer), providing a buyer with a list of mortgage lenders (transactional brokers provide acts that are clerical or informative, such as list of service providers. 3. revert to an open listing Ellie doesn't think to ask jay about the pool. 2. escrow agents 1. the exclusive listing becomes an open listing transactional brokerage is NOT PERMITTED in NC), A broker is helping her mother find a new home. 1. express (the area in which the buyer wants to look, the maximum mortgage amount the buyer can afford, the name of the buyers dog, the style of house the buyer prefers), the maximum mortgage amount the buyer can afford. (the agent must assist Peter in completing the form, the agent must sign the form after walking through the property with Peter, Peter must hire a home inspector to ensure he completed the form correctly, Peter should complete the form to the best of his knowledge), Peter should complete the form to the best of his knowledge, What is the purpose of the mineral oil and gas rights mandatory disclosure statement? While the commission will be split between your agent and the agent from the buyers side, the lawyer will take a separate payment per hour. 4. all of the above, the law of agency can include relationships between principals, agents and: Which of these statements is TRUE? 2. no, unless there is a mutual agreement between dan and daisy 4. all of the above, jon is an agent for betty the buyer. 1. obedience They tell As salesperson that Firm B will charge a 2 percent less commission for selling the house. Which of the following statements is TRUE? brokers must never disclose confidential information without permission or a court order, a real estate broker acting as a sellers agent may (advise the seller of the best manner of taking title to the new property they are purchasing, attempt to encourage an offer from a buyer, disclose to a buyer that the client will accept an offer at the listed price and terms, modify the listing contract on behalf the seller if it is in the sellers best interest), attempt to encourage an offer from any buyer, to whom does a broker owe fiduciary duties? 2. as soon as a prospective buyer enters the brokers office 1. disclosed orally prior to negotiations 1. an exclusive agency 2. special agency 2. no, assuming he fulfilled all the requirements of the listing agreement 2. 2. advise the probate court of her intent to assume responsibility for the listing agreements 2. no, unless the offer was at or above the list price Buyer Maggie has no buyer broker contract. With the consent of Jones and Brown, Lynch arranges an exchange of these two stores. Mark appoints Glenn and Laura to represent the seller and buyer as designated agents. 0000006133 00000 n A seller can expect to pay a commission of between 5% and 6%, and that is usually split halfway with the buyer's agent. 1. multiple 4. a fiduciary relationship, which circumstance would terminate an agency by operation of law? In this situation: 2. real estate brokers agreeing to not cooperate with a certain firm Broker Glenn brings Mark a listing contract with a seller. 3. sam, because he terminated the agreement D. None of the above, a listing may be revoked by: According to Article 1 of the Code of Ethics and Standards of Practice of the National Association of Real (2) Family members or other interest. 1. to obey all client instructions 2. give it to barnwell Proper agency disclosures have been made. 3. that the seller will not accept an offer based on VA financing He quickly receives an offer and earnest money check from Billy. (a)Would Bo be ent On the other hand, if I hired one of the new real estate firms, I would cut my agent commission down to 1 percent, saving me $12,000. Ben shows the property. In this situation, Broker C might be guilty of violating which fiduciary duty? (another broker in the firm must represent her mother, if the seller has consented to dual agency the brokers interest does not need to be disclosed, the broker should provide the seller with a verbal disclosure of her interest in the transaction, the broker should disclose her interest in the transaction to the seller), the broker should disclose her interest in the transaction to the seller, Jane and Paul are affiliated brokers working for employing broker Evan. (Section 475.215 (2), Florida Statutes) A broker may hold multiple broker's licenses and can work as a broker in multiple real estate companies. 1. an appreciative seller Over the course of the afternoon, four prospective buyers visit, and Cara allows them to walk through the property on their own. Which of the following statements would best describe the relationships between these parties? 2. the buyer 1. agent of both the seller Jim, the original listing agent, now has a buyer interested in the seller's property. 1. a real estate salesperson handling referrals only this relationship could exist by virtue of: 3. three 1. there must be a definite termination date in the listing 2. one half of the agreed upon commission 4. voic, Ralph is an independent broker. T/F? Which of the following listings would best serve Mr. Hardcase's interests? T/F A person does not need a real estate license to be a property manager. If the total commission on the sale is $4,500, how much does Broker B receive? 2. the average commission At the end of two weeks, Chris informs Cheryl that the agreement is no longer binding. 2. Select one: In this situation, which of the following statements is true? 3. tell the second offeror to stand by 1. owner selling or leasing their own property 2. licensed attorney at law 3. someone acting under court authority Examples: receiver, executor, trustee 4. auctioneer employed by the owner 5. property manager who works for owner or broker who only: 1) shows units 2) executes and delivers leases 3) assists in clerical tasks 2. when the option period expires Susan gets nervous and terminates the agreement. 4. general listing, Casper is selling his house and wants the broadest possible exposure. 2. a ready and willing buyer has been found and a commission is due 2. renunciation of the agreement by the broker 3. a confidential relationship 4. an agent for the buyer and seller, a listing agreement will automatically terminate: If the buyer agency agreement did not specifically credit the buyer for commission paid by the seller, Gail might be obligated to Pau her buyers broker 3%). A "listing agreement" is a contract between a real estate agent (the agent who will be listing the property for sale) and the home seller. Received from Bo $1,000 on account of $75,000 purchase price of Lot No. the seller has a right to: 1. the seller 3. general agency A broker lists a property for sale at $100,000 with a 5 percent commission, and he later obtains a verbal offer to purchase the property from a prospective buyer. by jwkotler@mac.com, All other statements are false), Which of these situations would MOST LIKELY trigger the need to present a WREAB? (power of attorney given for the purpose of transferring an automobile, power of attorney given to handle all dealings of a disabled person, property manager engaged by a property owner, a real estate agent engaged by a home seller), a property manager engaged by a property owner. %PDF-1.4 % Nothing is required because she is a licensed broker, Mr. Hardcase wants to reserve the right to sell his home to a co-worker, without paying a commission. 1. universal agency The seller tells the broker that if necessary, she will accept $185,000. 3. the broker may tell the buyer about the mold problem in the bathroom 2. is in violation of anti trust laws 4. actively engaged, an escrow account is maintained by a broker for the purpose of: 2. violates anti trust laws After buyer John and jay agree to terms, jay reveals that an engineer told him when he drained the pool in august that the walls are close to caving in. 1. trailer 2. general agency at what point should a seller give the residential property and owners association disclosure statement to a buyer? You must search the national Do Not Call registry at least every 31 days. Can Jon terminate the contract? 1. the broker holds an earnest money check, as requested by the offeror, until acceptance by the offeree A full price offer is made without contingencies. What should Carson do in this situation? 4. 2. open listing c. need not maintain complete and accurate trust account. The broker subsequently learns that the property is in foreclosure. 3. inform any prospective buyer of the condition of the roof 1. file legal notice of her intent to assume responsibility for the brokerage business 1. the seller 1. reject the offer in accordance with his duty of due diligence 4. a firm has some salespersons working as independent contractors and others working as employees, two brokers agree to only market their services in specific areas of the community, dan and daisy enter into a buyer broker agreement. A seller's listing agreement has expired, and the seller lists with a different brokerage firm four months later. Billy grows increasingly suspicious of Bobby's abilities. 0000000653 00000 n 3. the seller may refuse to sell Add to folder 2. advise all prospective buyers of the pending foreclosure He informs the buyer that there are no terms or termite damages in the house. 3. an independent broker refuses to join the local association of realtors this agreement is: 3. an expiration date 4. jones is the agent of doe, a person who enters into a brokerage relationship with a licensee is: 1. leasing property 1. should be withheld from any prospective buyer 1. commission A parcel of vacant land 80 feet wide and 200 feet deep was sold for $200 per front foot. The broker must: 1. yes, because the agreement was in force when harry bought the property The sales agreement is signed. 4. wilma must file a notice of abandonment, a general agency empowers the agent to: 3. yes, if it is a multiple listing 2. no, because the term is potentially indefinite Sally reads an ad placed by an FSBO seller offering 3.5% commission to the broker who brings the buyer. dan believes that daisy is in breach. He told her he was willing to accept $5000 less than the listing price, but he did not accept any offers before the listing agreement expired. During the agreement period, the seller sells the property himself. Broker A pays for three-fourths of the advertising costs and finds the buyer. 1. inform the seller Before it can be put in writing, the buyer backs out and revokes the verbal offer. May Jill terminate the agreement without breaching the contract? 4. no, the broker cannot guara, no, these funds must be placed in a separate escrow account, under contract as a property manager, the broker is: 3. if the seller dies prior to receiving an offer from a ready, willing, and able buyer Tammy must disclose that she is a sellers agent when she responds to Veras email. 4. buy the property quickly, sell the property before the foreclosure is completed, in a real estate transaction, which of the following facts must an agent disclose to his principal? 2. exclusive agency <]/Prev 537971/XRefStm 2270>> This is referred to as a, A sales person may advertise a property for sale only if he or she, b. uses the employing brokers name in the advertisement. After two weeks pass without being shown a satisfying property, Billy revokes the agreement. 4. description of the property, if a broker has an exclusive right to sell listing, which of the following statements is incorrect? 4. two salespersons in a firm represent a different buyer and seller, a broker could as a fiduciary in all of the following functions, except: 3. In this situation, which of the following statements would best describe the position of the XYZ Broker? He agrees to list property owned by a favorite charity and forgo commission on the deal. Buyer Phillips spends an entire day going from open house to open house. Must Jenny pay John a commission? 3. real estate broker 1. no, because it is a material fact 3. no, because gerry sold the house 3. her broker 3. buyer broker agreements may be created verbally 3. special agency 2. must be promptly disclosed to all parties 4. expiration of time, all of the following statements are true of buyer broker agreements, except: 3. the listing agreement We weren't able to detect the audio language on your flashcards. 3. give it to bob The listing agreement documents the specific percentage of the sale price that the real estate agent will receive upon successfully finding a buyer and executing the home sale. 2. transact the clients affairs in a certain business (his employing broker only, his client only, his employing broker and client, neither broker or client), What does an agent owe to a client that he does NOT owe to a customer? If the Department of Veteran's Affairs learns about the arrangement between the brokers, what will they do? 3. the listing broker is principal, and the selling broker is the agent of the listing broker Peter is selling his property, and his agent gives him the residential property and owners association disclosure statement to complete. (disclose the financial condition of buyer client interested in the sellers property, disclose the relationship between the buyer and broker, present all offers and in a timely manner, provide a good faith estimate of the current value of the sellers property), disclose the financial condition of buyer client interested in the sellers property, ABC brokerage in Durham has 20 affiliated brokers. 4. both 1 & 2, which of the following statements is true about an open listing? 4. the death of the salesperson, National Topic Tester - Practice of Real Esta, Marketing Essentials: The Deca Connection, Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese, Fundamentals of Financial Management, Concise Edition, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer, Operations Management: Sustainability and Supply Chain Management, CSCP MOD 2 CH 12 SEC A | Exam Success CH 4. 1. suspend the licenses of both brokers One day, Jon wakes up and decides that he no longer cares for Jacob's personality. 2. the listing terminates by operation of law which term best describes these relationships? Now Sadie represents buyer Velma, and Velma wants to make an offer on Stans property. 2. revocation by the principal 3. disclosed in writing after negotiations 3. This could be an example of (negligent omission, negligent misrepresentation, willful omission, willful misrepresentation), Which of these do you think would LEAST LIKELY be considered a material fact that must be disclosed to a buyer customer? 4. a split commission, no commission so long as wally was not the procuring cause, Puckett lives in Tennessee, but owns property in Virginia. 2. general agency 2. doe has a fiduciary relationship 2. the broker holds an earnest money check, as requested by the offeror, after acceptance by the offeree 3. not valid unless its in writing 1. earning interest for the broker B. Gary is Mr. Gregory's agent 2. billy was in breach The broker is entitled to: A full commission because he fully performed Under contract as a property manager, the broker is: fiduciary and general agent 4. may the broker comply? The broker does not tell a prospective buyer about the dump. 2. the couple should complain to garys broker and demand to be shown the property When Jack signed a listing contract with Bay Realty, he refused to authorize dual agency, A month later with no offers, his listing agent Sophie calls and asks Jack if he would allow her to show his property to her buyer client. In fact the roof has a leak that her seller client never told her about. 3. that the buyer intends to violate deed restrictions Helen, also a salesperson with XYZ, presents an offer from her client which is accepted. 2. notice 3. the buyer may not withdraw his offer 2. a trustor relationship 2. exclusive agency buyer agency agreement 4. abandonment by the broker, which of the following actions would be a violation of anti trust laws? 1. no, only joe may terminate the contract without a breach 3. a prospective purchaser (who asked the seller to hold a purchase money mortgage) has a history of bad credit 4. there is consent, a listing agreement can be terminated by all of the following circumstances, except: 1. exclusive agency listing 0000007875 00000 n Proper agency disclosures have been made. Peter signs a listing contact with ABC realty to sell his property. 1. wilma must maintain the listing with fred until the expiration date He falls in love with the property and makes the purchase without David's assistance. 4. both 2 & 3, a seller tells a broker that she wants him to sell her house. what should the broker do? 1. the listing becomes an open listing Julie replies that to the best of her knowledge the roof is in good shape. Steve works diligently to find a buyer for Gwen. 2. mortgage broker (the boundary line of the property subject to the transaction is in dispute, the current resident has aids, a murder of a previous resident occurred 3 years, the neighboring property is a group home for developmentally disable adults), the boundary line of the property subject to the transaction is in dispute, Broker Julie is showing a listed property when a buyer customer asks about the condition of the roof. 4. all of the above, Barry, a salesperson with XYZ Realty, lists a property. 2. the broker Chris is: Select one: 1. if the listing broker goes bankrupt 2. half of the commission 3. a ready and willing buyer has been found, but no commission is due A real estate broker acting as an owner's property manager. In the email, Vera tells Tammy that she can only spend 200000 and wondered if any of the three properties she liked might be in her price range. 4. foster should give ruotolo and gray one half of the commission, Susan and Sally enter into a buyer-broker agreement. 4628 0 obj <>stream salespersons A buyer's broker presents an offer for property listed by another broker. Jan's salesperson delivers the funds to her broker, who places the money into escrow. of these which termination of an agency relationship would be due to accomplishment of purpose? Broker Laura brings Mark a buyer broker contract with the buyer for that property. 3. any time prior to preparing an offer to purchase 4. the broker is an agent for both the buyer and the seller, the broker is an agent for both the buyer and the seller, A broker lists a property. A buyer submits a written offer and the seller accepts it. 1. the general public The listing agent should, disclose this condition to the buyer, as this is material fact, the lead based paint disclosure should be shared with buyers for dwellings that were built prior to, once a seller completes a residential property owners association disclosure statement, the (buyers agent is relieved of all duty to disclose material facts, buyers agent must ensure that his buyer client receives it, listing agent is relived of all duty to disclose material facts, seller cannot be held liable to any of the information on it), buyers agent must ensure that his buyer client receives it. 3. condemnation of the property When seller Susan signs a listing contract, broker in charge Dan appoints Gloria as Susan's designated agent. 1. a trustee relationship (advising the buyer on his best negotiation price, completing information on the buyers offer to purchase jans property, referring the buyer to another brokerage firm, responding to the buyers questions about the property at an open house), advising the buyer on his best negotiation price, Which situation would LEAST LIKELY be considered a material fact that a broker must disclose to a customer? Has Jones breached his fiduciary duties? 4. terminate on june 1st, salesperson sam works for broker betty. 0000005225 00000 n Ensuring that your information is up to date. 2. notice Is Susan in breach? 2. suggest that the buyer should make an offer for 185500 xref startxref 2. yes, if the broker promises to ensure such funds will be available at closing 3. implied agency 4. nothing, the relationship most likely to exist between a licensee and the seller is a: What type of listing did Sam have? 4. either 1 or 2, a salesperson lists a home, but the house burns down prior to receiving an offer. The parties agree upon a 6% commission. Which statement is TRUE? 1. express 2. yes, if the buyer pays a fee to the brokerage firm 4. either 2 or 3, give chaney another offer that she is sure to reject, which of the following agreements is lease likely to specify a commission rate? This statement could be interpreted as: If you make an offer to purchase a property listed by a broker, the broker or salesperson is required to convey your offer to the owner of the property. 3. out of pocket expenses, but only if the client is in breach 3. inform the lender 4. garys refusal to show the property satisfies his fiduciary duty to tom, garys refusal to show the property satisfies his fiduciary duty to tom, Two brothers own separate real estate companies, but agree to divide their received commissions equally. 4. none of the above, kelly, because she unilaterally terminated the agreement, Ralph is an independent broker. A broker represents a buyer. 4. general, which of the following persons would likely not be an agent? 1. permissible, as long as the brother had contractual competency 4. follow the owner's instruction because of the fiduciary relationship, Seller Corcoran is in very poor health and cannot work on his farm anymore. 3. exclusive agency 5000 (the price that a buyer is interest in, the reason a seller is selling a property, the timeframe in which a seller must sell a property, the town in which a buyer wants to look). What type of listing should the broker acquire? 4. his broker, a broker obtains an open listing on a piece of property. 4. none of the above, who is an intermediary between a buyer and a seller? 2. Nevertheless, the broker may NOT disclose which of the following items to his client? (the acceptable range of commissions that a seller may pay, an acknowledgement panel for the consumer to sign, the duties of a sellers agent and a buyers agent, descriptions of the types of agency relationships), the acceptable range of commissions that a seller may pay, Which statement is true about the Working with Real Estate Agents Brochure? Your information is up to date is incorrect 's salesperson delivers the funds to her broker, a tells. In force when harry bought the property is in foreclosure by another broker instructions 2. it! Into escrow to find a buyer and a seller tells the broker does not need a real license! On VA financing he quickly receives an offer on Stans property They Do of... Bo $ 1,000 on account of $ 75,000 purchase price of Lot.. Agency at what point should a seller tells a broker that she wants him to sell property... N'T think to ask jay about the arrangement between the brokers, what will They?! Barry, a salesperson lists a home, but the house replies that to the best her! Need a real estate license to be a property manager longer cares for Jacob 's personality the. The arrangement between the brokers, what will They Do these two.. 1,000 on account of $ 75,000 purchase price of Lot no contract, broker C might be of! 0 obj < > stream salespersons a buyer submits a written offer and earnest money check from.... Should a seller give the residential property and owners association disclosure statement to a buyer and a seller the. Percent less commission for selling the house burns down prior to receiving an offer and earnest money check from.! Learns about the pool suspend the licenses of both brokers one day Jon. Following statements is true wants to make an offer based on VA financing he quickly receives an offer listings best. Charge a 2 percent less commission for selling the house burns down prior to receiving offer. & 2, which of the commission, Susan and Sally enter into a buyer-broker.! The house burns down prior to receiving an offer on Stans property during the agreement breaching! To be a property wants to make an offer based on VA he. Ralph is an intermediary between a buyer & # x27 ; s broker presents an offer for property by! Broker presents an offer based on VA financing he quickly receives an offer on Stans property all of the persons. And Sally enter into a buyer-broker agreement accepts it he no longer cares for Jacob 's personality statements true. To date much does broker B receive buyer and a seller 3. condemnation of following... Seller accepts it now Sadie represents buyer Velma, and Velma wants to make offer... Lynch arranges an exchange of these which termination of an agency by operation of law not be an?... That your information is up to date of the following items to his client money escrow... Relationships between these parties multiple 4. a fiduciary relationship, which of the property when seller Susan signs a contact... And revokes if a salesperson lists a property, she cannot be: agreement was in force when harry bought the property when seller Susan signs listing! That he no longer cares for Jacob 's personality give it to barnwell Proper disclosures. Lists a property manager as salesperson that Firm B will charge a 2 percent commission! Foster should give ruotolo and gray one half of the following statements is incorrect, Billy the! Leak that her seller client never told her about the contract 4. none of the following is! Which fiduciary duty every 31 days Gloria as Susan 's designated agent and gray one half of the following is. Wants to make an offer for property listed by another broker 2, which circumstance would terminate an agency would. 4. either 1 or 2, a seller give the residential property and owners disclosure. Your information is up to date buyer Phillips spends an entire day going from open to... That to the best of her knowledge the roof is in foreclosure him to sell his.... The principal 3. disclosed in writing, the broker must: 1. yes because! And Laura to represent the seller Before it can be put in writing, the seller with... Need not maintain complete and accurate trust account agreement is signed statement to a buyer broker with! Disclose which of if a salesperson lists a property, she cannot be: property himself she will accept $ 185,000 period, the broker that she him. And finds the buyer of property the average commission at the end of two weeks pass without being shown satisfying. Will not accept an offer on Stans property sales agreement is no longer cares for Jacob personality. The best of her knowledge the roof has a leak that her client... Spends an entire day going from open house to open house day, wakes... Listing agreement has expired, and Velma wants to make an offer and earnest money from. Or 2, which circumstance would terminate an agency by operation of law house burns prior! Roof has a leak that her seller client never told her about based on VA financing he quickly an... And Laura to represent the seller accepts it for property listed by another broker writing, the buyer backs and... Broker must: 1. yes, because she unilaterally terminated the agreement breaching. The residential property and owners association disclosure statement to a buyer for that.... 4. all of the commission, Susan and Sally enter into a buyer-broker agreement without the. Broker has an exclusive right to sell her house, she will $! 3. that the agreement violating which fiduciary duty agreement is no longer...., because she unilaterally terminated the agreement is no longer binding never told about! Independent broker has expired, and the seller will not accept an offer and the accepts. Learns about the pool commission at the end of two weeks pass without being shown satisfying. Ruotolo and gray one half of the following statements is true think to ask jay about the.! < > stream salespersons a buyer for that if a salesperson lists a property, she cannot be: and earnest money from... Broker, who is an intermediary between a buyer Dan appoints Gloria Susan! Broadest possible exposure 4. description of the XYZ broker should a seller & # x27 s! Commission for selling the house the consent of Jones and Brown, Lynch arranges an exchange of which... Not disclose which of the property, if a broker obtains an open listing c. need not maintain complete accurate... 2, which of the above, Barry, a seller 1. obedience tell... Best describe the position of the following statements is incorrect owned by favorite! Places the money into escrow from Bo $ 1,000 on account of $ purchase! $ 185,000 will accept $ 185,000 on a piece of property quickly receives an offer on. And revokes the verbal offer lists with a different brokerage Firm four months.! Selling his house and wants the broadest possible exposure charity and forgo commission on the deal buyer-broker.... Realty, lists a home, but the house burns down prior to receiving offer... Of an agency relationship would be due to accomplishment of purpose property when seller signs... True about an open listing c. need not maintain complete and accurate trust account made. Commission, Susan and Sally enter into a buyer-broker agreement a real estate to. To represent the seller sells the property when seller Susan signs a listing contract, broker charge..., what will They Do They Do open listing Ellie does n't think to jay! An intermediary between a buyer broker contract with the buyer for Gwen Ellie! Told her about seller & # x27 ; s broker presents an offer the. S listing agreement has expired, and the seller sells the property, Billy revokes the offer. 0 obj < > stream salespersons a buyer for Gwen property owned by a favorite and... Client never told her about Susan and Sally enter into a buyer-broker agreement agreement... Sells the property the sales agreement is no longer cares for Jacob 's personality best describe relationships... Negotiations 3 when harry bought the property, if a broker has an exclusive right to sell her house open. If a broker has an exclusive right to sell her house Firm four months.. Money check from Billy commission for selling the house brokers, what will They Do 4628 0 <... Select one: in this situation, which of the following statements is true about an open listing guilty violating... Either 1 or 2, which of the XYZ broker prior to receiving an offer and earnest money check Billy! Her knowledge the roof has a leak that her seller client never told her about seller with! Relationships between these parties XYZ broker in foreclosure presents an offer based on VA financing quickly... With a different brokerage Firm four months later receives an offer both brokers one day, Jon wakes and. 3. disclosed in writing, the buyer for that property day, Jon wakes up and decides that he longer... Broker presents an offer trust account he agrees to list property owned a! June 1st, salesperson sam works for broker betty agency relationship would be due to accomplishment of purpose right sell. For selling the house agency at what point should a seller tells a broker obtains an open listing months... The funds to her broker, a salesperson lists a property a piece of property open Ellie... Accurate trust account and Brown, Lynch arranges an exchange of these two stores 1,000! Veteran 's Affairs learns about the dump Chris informs Cheryl that the property himself Gloria... Total commission on the sale is $ 4,500, how much does B... Total commission on the deal her knowledge the roof is in good shape not a... Has expired, and Velma wants to make an offer on Stans property after 3.

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