How much do you really know about real estate? Take this quiz
January 9, 2023
January 9, 2023
1. A comparable analysis is the same and an appraisal?
Answer: False - They are similar but the appraisal must be completed by a licensed appraiser.
2. The passing of time is the only way for a home to appreciate in value?
Answer: False - An appropriate remodel or update of a home may also increase the value of a home.
3. The term “AS-IS” in real estate implies that the buyer’s offer will not include requests for repairs or replacements, although this document does not 100% eliminate the possibility.
Answer: True
4. What should buyers expect to pay at or before closing on a home purchase?
A Home Insurance
B Escrow Fees
C Title Insurance
C Appraisal Fees
E All of the above
Answer: E- All of the above
5. What fees are not typically a home owner's expense?
A Property Taxes
B Home Insurance
C Incorporation Fees
Answer: C Incorporation Fees - Incorporation costs are the costs a company incurs before it begins active business.
6. Which of these loans protects you from rising interest rate?
A. Fixed-Rate loan
B. VA Loans
C. Adjustable-Rate Mortgages
Answer: A. Fixed-Rate loan
Stay up to date on the latest real estate trends.
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Winter buying opportunities
December 20, 2022
Competition for buyers has decreased as the mix of holidays and higher interest rates dampen demand. Fewer buyers, however, means more opportunities to find the right … Read more
December 20, 2022
Competition for buyers has decreased as the mix of holidays and higher interest rates dampen demand. Fewer buyers, however, means more opportunities to find the right … Read more
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