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General Buyer Info You Should Know! Quiz #1
1. Which should a buyer do when looking for a home?
Home Inspections that includes a termite inspection A mortgage pre-approval before that start looking for a house so that they understand their monthly financial obligation An experienced Real Estate Agent, that is knowledgeable, and makes recommendations All of the above
2. What are the monthly costs after after purchasing your home?
Banks may included-mortgage payments, taxes, insurance, and other costs principle, interests, taxes and insurance (PITI) The answer is B The answer is A & B
3. What is the best method when buying a home?
Look at as many homes as possible before making an offer and never accept the first counter offer No need to do any research, just hire an experienced agent do do the leg work, then exam his findings Do some research on homes and agents, then find an agent that you are comfortable with to assist you
4. Who can does a real estate agent represent?
Buyer Seller Buyer and Seller All of the above
5. What below answer describes a Cooperative apt, which describes a Condominium?
Shares in a corporation, monthly maintenance is paid that includes taxes insurance and common charges ownership is out right, treat as a 1 family home, monthly maintenance is paid that includes taxes insurance and common charges A is the cooperative apartment and B is the Condo B is the cooperative apartment and A is the Condo
6. A bank requires an inspection to insure a house does not have defect while the seller demands an appraisal to support the price of the house.
True False
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General Buyer Info You Should Know! Quiz #1