Nebraska Real Estate Salesperson Exam — All Questions

Nebraska law generally requires the seller of residential real property to give the buyer:

• a.A title insurance policy
• b.A professional home inspection report
• c.A completed Seller Property Condition Disclosure Statement✓
• d.A written warranty that the property is defect-free

Nebraska requires most sellers of residential real property to furnish the buyer a completed Seller Property Condition Disclosure Statement on the Commission's form, disclosing the seller's actual knowledge of the property's condition. It is not a warranty and does not replace an inspection, but the seller must answer honestly.

Earnest money that a Nebraska salesperson receives from a buyer must be:

• a.Promptly delivered to the employing broker for deposit in the broker's trust account✓
• b.Held by the salesperson in a personal account until closing
• c.Sent to the Real Estate Commission for safekeeping
• d.Given directly to the seller when the offer is written

Client funds such as earnest money must be handled through the broker's trust (escrow) account and kept separate from personal and business funds. A salesperson who receives the money must promptly deliver it to the employing broker for deposit. Commingling or converting trust money is a serious license-law violation.