California Real Estate Practice Exam

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Study for the California Real Estate Exam. Engage with multiple choice questions and detailed explanations to sharpen your knowledge. Get ready to ace your real estate career!

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How many days does a buyer have to rescind an offer after receiving the Transfer Disclosure Statement?

One
Two
Three
Five

The correct answer is: Three

The transfer disclosure statement contains important information about the condition of the property being sold, including any known defects or issues. As a buyer, it is important to carefully review this document before making an offer on a property. If the buyer decides to rescind their offer after receiving this document, they have three days to do so. This allows the buyer time to consider the information in the disclosure and make an informed decision about their offer. Options A, B, and D are incorrect because they do not reflect the specific timeline designated for rescinding an offer after receiving the Transfer Disclosure Statement.