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
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