cs
A ___ is a map of the property drawn by the surveyor to show measurements, boundaries, and characteristics of the property.
b
A ___ is the right of ownership of a particular piece of property.
b
A mortgage is paid in ___after signing a purchase agreement.
b
If you do not have enough money to afford the home you want, you can ________.
b
Most people spend more money on ___ than any other single expenditure.
b
Moving rates are usually ___ during the end or beginning of the month.
b
What is the most common way to finance a home purchase?
b
When selecting a single-family home, choose one based on your ___.
b
____ are single family homes, built by a developer, who creates a neighborhood by building many houses at once within a given area.
b
A ___ may be required, which protects the landlord against financial losses in case the renter damages the dwelling or fails to pay rent
c
A family of four, two parents and two young children, are looking to move into a house. Their current budget for their apartment is $900 a month. The parents' gross annual income is $70,000. Which of the following houses would they be able to afford to buy?
c
A graduated payment mortgage allows the buyer to ___.
c
All of the following are examples of single-family houses EXCEPT
c
Earnest money is applied to the ___ at the close of the sale.
c
Prior to buying a home, the buyer needs to make sure the seller is the ___ owner of the property.
c
The amount of money the banker or broker makes in commission on your loan is called the ___.
c
When planning which house to purchase, you may be able to increase your budget by taking into account your future ______.
c
You should consider the costs of all of the following when deciding where to live, EXCEPT
c
A purchase agreement should include a description of the real estate and ___.
d
Before renting or buying a multifamily dwelling, you should know the ___ of the building.
d
Family size and living expenses can influence which of the following factors?
d
Identify some of the advantages associated with renting ___.
d
If a bank denies your mortgage application, it may be a sign that _____.
d
It is a good idea to ___, prior to hiring a mover.
d
Marisol just moved from New Jersey to Florida after completing college. She decided it would be best to hire a moving company, and they just dropped her belongings off. Before Marisol unpacks everything, she should first _____.
d
Residents of ___ share common areas, such as lobby grounds and laundry facilities.
d
The location of your home is determined by _____.
d
What factors will determine the amount you can afford to spend for a home?
d
What information should you collect prior to moving?
d
When purchasing a home it is important to consider whether or not you want to live in a____________.
d
When purchasing a home, the lender is usually a ___.
d
When you are shopping for a mortgage, you should research
d
You will want to check out the community services and facilities that are available in the neighborhood such as:
d
Manufactured homes generally cost more than other types of housing with comparable living space and facilities.
f
An appraisal documents the exact monetary value of the property.
false
Earnest money is refunded to the buyer at the close of the sale.
false
If you are moving a short distance, it may be more expensive to move yourself than to use a moving company.
false
It is not important to consider if public transportations is available in your neigborhood.
false
VA-guaranteed loans are long-term, fixed rate mortgages in which the terms are set by the Value Association.
false
A legal rental agreement between a tenant (lessee) and the landlord (lessor) outlining the terms and conditions under which the tenant rents the property.
lease
Protects the landlord against financial losses in case the renter damages the dwelling or fails to pay rent.
security deposite
An expert, such as an independent contractor, can assist you in making a purchase decision because he or she can evaluate construction details you cannot judge.
t
The main difference between apartments, condominiums, and cooperatives is the ownership.
t
A contingency clause may include, obtaining a mortgage in a certain amount of time or at a certain interest rate.
true
A contract sale is primarily used when the buyer has trouble getting affordable financing.
true
A home purchase agreement may contain a contingency clause that calls for certain requirements to be met before the contract is binding.
true
A mortgage is a contract between a borrower and a lender.
true
If you own your property, you are responsible for repairs and maintenance.
true
It is recommended that you donate or sell items you no longer need prior to a move.
true
It is usually cheaper to move during the middle of the month, as opposed to the end or beginning of the month.
true
Making a wise housing budget will allow a person to pay for emergencies without going broke.
true
Most people can afford to spend approximately 2 ½ times their gross annual income for the purchase price of a home
true
Prior to moving, you should organize and consolidate your possessions.
true
Recommendations from family and friends are a good resource when trying to find a moving company.
true
Renters are not required to spend time on home improvement projects.
true
Renters are restricted in the types of changes they can make to the property.
true
When buying a condominium, you should consider the financial status of the property.
true
When buying a new home, you will want to consider which architectural styles appeal to you.
true
When buying property, you should consider whether or not the current residents are satisfied with the management and the building.
true
When selecting a rental property, you should consider the neighborhood and the surrounding community.
true
___ is a loan by the seller to the buyer for the purchase of the seller's property.
a
What document outlines the terms and conditions under which a tenant occupies a property, and outlines the rights and responsibilities of both parties?
a
A document listing the goods shipped in a moving van.
a
A family with small children would most likely prefer to live by
a
Apartments, condominiums, and cooperatives are all examples of ___ dwellings.
a
Before agreeing to buy a house, it is wise to factor in _______.
a
Before making a decision about which house to buy, it is imperative that you investigate _______.
a
Condominium owners elect a ___ to make policy and management decisions for the shared property.
a
The FHA loan insures the ___.
a
The primary financial responsibility of renting a place is paying the stated rent monthly, in addition to certain ___.
a
