Question

11) 11) Frank and Diane want to buy a house. Which of the following do they need before they purchase a house? A) Down payment. B) Handyman Mortgage principal D) Mortgage interest. E) Renter's insurance. 12) What should a home buyer consider when evaluating a house? A) Location of businesses and future construction projects. B) Zoning laws. Property values of the community. D) School system. E) All of these should be evaluated. 13) - 13) When Ingrid was selling her house, she contacted Gabe, her real estate agent, to help her with the sale. Gabe's services included all of the following except A) Home appraisal. B) Providing advice on features to highlight. C) Showing Ingrid's home to potential buyers. D) Suggesting a selling price. E) Screening potential buyers to determine whether they will qualify for a mortgage. 14) When Nancy buys her house, the mortgage company will usually conduct a(n) A) Appraisal B) Contingency clause. C) Purchase agreement. D) Dual agent. E) Earnest money. 15) 15) Opal is a real estate agent who represents the buyer as well as the seller. In some states, the buyers are required to sign a disclosure acknowledging that they are aware that Opal is working as a(n) A) Contingency clause. B) Earnest money. C) Appraisal D) Dual agent. E) Purchase agreement.

Answer 1

Solution

11 A Down payment 12. E all of these should be evaluated 13 A home appraisal 14 A Appraisal 15 A Contingency Clause 16 E Current mortgage rates. 17 A amortization 18 C VA Loan 19 E Second mortgage 20 CFHA loan. 21 E pay all cosling cost, settle last minute details and sign document 22 D Deed 23 C Escrow