Home Buyer's Quiz

6 Questions I 1 Attempt I Created By chrisbrown100 1637 days ago

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Question Excerpt From Home Buyer's Quiz

Q.1)	Monthly house payments usually include the following:

A.	Principal and interest payments only

B.	Homeowner's insurance, property taxes, principal and interest payments.

C.	Interest payments only, the principal is held in escrow.

D.	Property taxes, state taxes, principal and interest payments.

Q.2)	Which one of these factors is most important when determining the current market value of residential homes?

Style

Age

C.	Acreage / Lot size

Location

Q.3)	Which one of these is true when you work with one agent, opposed to working with several agents to help in your property search?

A.	You will save time.

B.	You could find a "good deal" from a motivated seller.

C.	The agent will see you as a committed, priority customer, and provide more dedicated help.

D.	All of the above.

Q.4)	When buying a property for sale by owner, you can always save money on the property.

True

False

Q.5)	If I work with a REALTOR® under an exclusive agent agreement to find a house, the REALTOR® must disclose our agency relationship when presenting my offer to the seller of the property.

True

False

Q.6)	You drove by some homes that went up for sale by a real estate brokerage and you want to see the homes. Which of the following is the best way to approach this when you have not hired an agent yet?

A.	Contact the seller of each house to set up an appointment.

B.	Contact the agent on each of the signs to schedule appointments.

C.	Contact an agent from a reputable company for information on all of the homes.

D.	Wait awhile, because the home could be reduced in price after a few months.

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