• RES Paper 1 (Set A)

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    16 Nov 2024

    RES Paper 1 Exam Question

    A buyer purchases a property without conducting a title search and later discovers an existing equitable interest. Can the buyer challenge this claim?

    a. Yes, if the buyer had no notice of the equitable interest.

    b. No, the equitable interest takes precedence over the buyer’s legal title.

    c. Yes, only if the equitable interest holder failed to register a caveat.

    d. No, unless the buyer negotiates directly with the interest holder.

    Answer: a

    Explanation: Bona fide purchasers for value without notice are protected under equity.

  • RES Paper 1 (Set B)

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    16 Nov 2024

    RES Paper 1 Exam Question

    A real estate salesperson receives a higher offer from a potential buyer after signing an exclusive agreement with a seller. What should the real estate salesperson do?

    a. Negotiate with the higher offer without informing the seller.

    b. Inform the seller and advise them on how to proceed.

    c. Reject the higher offer to comply with the agreement.

    d. Terminate the exclusive agreement and switch to the new buyer.

    Answer: b

    Explanation: Agents owe fiduciary duties to their clients, including full disclosure of material offers and advice on handling them.

  • RES Paper 2 (Set A)

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    17 Nov 2024

    RES Paper 2 Exam Question

    A salesperson is tasked with marketing a property that has an ongoing legal dispute regarding its ownership. The client instructs the salesperson not to disclose this issue to potential buyers. How should the salesperson proceed?

    a) Abide by the client’s instructions to maintain confidentiality.

    b) Proceed with marketing but inform buyers that ownership disputes are irrelevant to the transaction.

    c) Refuse to market the property and report the issue to the Council for Estate Agencies (CEA).

    d) Disclose the ownership dispute to potential buyers and advise them to seek independent legal advice.

    Answer: d

    Explanation: Transparency about material issues affecting a property is essential under ethical advertising and professional conduct guidelines​

  • RES Paper 2 (Set B)

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    17 Nov 2024

    RES Paper 2 Exam Question

    A buyer and seller sign an Option to Purchase (OTP) agreement for a private property. After signing, the seller wishes to cancel the transaction, citing better offers from other buyers. What is the best course of action for the salesperson representing the seller?

    a) Advise the seller to honor the OTP, as it is legally binding.

    b) Recommend that the seller compensate the buyer to terminate the agreement.

    c) Cancel the OTP unilaterally and market the property to other buyers.

    d) Delay responding to the buyer until the OTP expires.

    Answer: a

    Explanation: An OTP is a binding agreement. The salesperson should counsel the seller to honor their contractual obligations to avoid legal repercussions