California Real Estate Practice Exam

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Master the California Real Estate Exam with our comprehensive practice quiz. Get expert tips, detailed content review, and insider strategies to pass on your first try.

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Who is responsible for damage or destruction that occurs to a property before escrow closes but after the purchase contract is signed?

The buyer
The seller
The real estate agent
The insurance company

The correct answer is: The seller

The seller is responsible for damage or destruction that occurs to a property before escrow closes but after the purchase contract is signed. This is because the seller technically still owns the property until the deed is officially transferred to the buyer. The buyer is not responsible for any damage or destruction during this time. The real estate agent and the insurance company are not responsible for any physical damage or destruction to the property, as their roles are to facilitate the sale and provide insurance coverage for the property, respectively.