### What is a straight sale? - [x] A sale where a property owner conveys the title to land and existing improvements. - [ ] A sale where sellers also finance part of the buyer's purchase. - [ ] A sale that includes provisions for making improvements before the sale. - [ ] A sale where the buyer leases back the property to the seller. > **Explanation:** A straight sale involves the direct conveyance of the property and its existing improvements to the buyer, under the terms set out in the sales contract and with the buyer paying the full sales price at closing. It does not include additional provisions like seller financing, improvements, or leaseback arrangements. ### Which of the following transactions is NOT considered a straight sale? - [ ] A conveyance of land and its existing buildings. - [ ] A residential property sale with the full price paid at closing. - [x] A sale where the seller provides financing on the sale. - [ ] The sale of an industrial property with no provisions for improvements. > **Explanation:** A sale where the seller provides financing on the sale is not a straight sale. Straight sales do not include provisions for seller financing or improvements before the sale. They involve a simple conveyance of property and its existing improvements, with the buyer paying the full price at closing. ### Straight sales can involve which types of real estate transactions? - [ ] Only residential properties. - [ ] Only commercial properties. - [ ] Only industrial properties. - [x] Residential, commercial, or industrial properties. > **Explanation:** Straight sales can occur with residential, commercial, or industrial properties. They involve the direct conveyance of the property and its existing improvements without additional financing or improvement provisions. ### What is the most common type of sale in the real estate market? - [ ] Sale-leaseback transactions. - [x] Straight sale transactions. - [ ] Installment sales. - [ ] Exchanges. > **Explanation:** The most common type of sale in the real estate market is a straight sale, where the property and its existing improvements are directly conveyed to the buyer under the terms of a sales contract with the buyer paying the full sales price at closing. ### Which of the following is a key characteristic of a straight sale? - [ ] Involvement of seller financing. - [ ] Provision for future improvements. - [x] Buyer pays the full sales price at closing. - [ ] Leaseback of the property to the seller. > **Explanation:** A key characteristic of a straight sale is that the buyer pays the full sales price at closing. There are no provisions for seller financing, future improvements, or leaseback in a straight sale. ### In a straight sale, who typically pays the full sales price at closing? - [ ] The seller. - [ ] The real estate agent. - [x] The buyer. - [ ] A third-party investor. > **Explanation:** In a straight sale, the buyer pays the full sales price at closing. This is one of the defining characteristics of a straight sale. ### Which scenario represents a straight sale? - [ ] A buyer signing a leaseback agreement with the seller. - [x] A buyer purchasing land and paying the full sales price at closing. - [ ] A seller providing financing assistance to the buyer. - [ ] A property transaction requiring future structural improvements. > **Explanation:** A straight sale is represented by a buyer purchasing land and paying the full sales price at closing. It does not involve leaseback agreements, seller financing, or future structural improvements. ### What type of real estate can be involved in a straight sale? - [ ] Only undeveloped land. - [x] Any property, including land, buildings, and condominiums. - [ ] Only commercial buildings. - [ ] Only industrial properties. > **Explanation:** A straight sale can involve any type of real estate, including undeveloped land, buildings, condos, and shared land properties. This applies to residential, commercial, and industrial transactions. ### A straight sale does NOT include which of the following provisions? - [ ] Conveyance of title to land. - [x] Seller financing. - [ ] Full price paid at closing. - [ ] Existing improvements. > **Explanation:** A straight sale does not include seller financing. It involves the conveyance of title to land and any existing improvements with the buyer paying the full price at closing. ### Straight sales are subject to what main document? - [ ] Lease agreement. - [x] Sales contract. - [ ] Mortgage deed. - [ ] Property appraisal report. > **Explanation:** Straight sales are subject to the sales contract, which outlines the terms and conditions of the sale. This includes the full sales price to be paid by the buyer at closing.