If a buyer shows up with a cashier's check as a method of performance, what does this indicate?

Get more with Examzify Plus

Remove ads, unlock favorites, save progress, and access premium tools across devices.

FavoritesSave progressAd-free
From $9.99Learn more

Study for the Real Estate Transactions Exam. Utilize flashcards and multiple choice questions, each with hints and explanations. Prepare to excel in your exam!

When a buyer presents a cashier's check as a method of performance, it signifies their commitment to fulfilling the financial obligations outlined in the purchase contract. A cashier's check is guaranteed by the bank, which means the funds are immediately available and are viewed as a reliable form of payment. This action typically indicates that the buyer is prepared to proceed with the transaction and is serious about completing the sale as agreed upon.

The choice of a cashier's check reflects confidence and a readiness to finalize payment, thereby supporting the terms outlined in the purchase agreement. It demonstrates that the buyer has made arrangements to secure the funds necessary for the transaction, reinforcing their intent to uphold their contractual duties. Using a cashier's check is a standard practice in real estate transactions and often helps facilitate the smooth completion of the sale process.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy