Test your real estate buying knowledge by taking our Home Buyer's Pop Quiz. Whether you're buying or selling a home,
knowledge is power. See if you have a genius real estate IQ, or if you might need a little help. If you'd like more
home buying information, or are ready to find a home, Homes101 has a local real estate agent ready to assist you will
all your home buying needs.
What you should know before buying your new home...
1. Monthly house payments usually include the following:
2. In most states, the law requires a private home inspection to be performed by a licensed home inspector before you can go forward with a purchase offer.
3. Which one of these factors is most important when determining the current market value of residential homes?
4. When purchasing property that is listed through a real estate brokerage firm in the Multiple Listing Service, who is usually responsible for compensating the selling brokerage firm?
5. When purchasing a home specified in "as is" condition, which one of these becomes true after a purchase agreement has been executed?
6. Which one of these is true when you work with one agent, opposed to working with several agents to help in your property search?
7. When buying a property for sale by owner, you can always save money on the property.
8. In a seller's market, if you are pre-approved for a loan amount of $160,000 with a 3% down mortgage, you should:
9. 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.
10. 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?
