Question

Both parties to a valid and enforceable contract must provide consideration. In a contract for the sale and purchase of real estate, which of the following depicts the seller's
consideration?
A. A meeting of the minds with the buyer.
B. The option to present a counteroffer.
C. The property to be given up.
D. The money or goods that constitute the purchase price

Answer 1

Answer:

The correct answer is C

Explanation:

The seller consideration is the consideration which is defined as to take the property off the place as well as the market it into the escrow.

For example, if the buyer wants to bought the house, then the buyer will provide an earnest amount of money deposit (it will be the consideration of the buyer), and the seller would agree to sell the home to the buyer (it is the seller consideration).

So, in the agreement of sale and the purchase of the real estate, the seller consideration is to give the property to the buyer.