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How well do you know real estate?

When should you get pre-qualified by a bank?
When you submit your offer
Before you begin looking at homes
After your offer has been accepted
Doesn't matter
Where does a Realtor's commission usually come from?
Sellers proceeds
Buyers pocket
The bank
Split between buyer and seller
When can you move into the home you are purchasing?
The day the offer is accepted
Once financing is in place
At least 30 days after closing
The day of closing
How much will a home inspection cost?
Under $200
Between $200 and $400
More than $400
What is radon?
A type of insulation
A chemical
A naturally occuring gas
A type of mold
Can a Realtor show a house that is listed by another agency?
Yes
No
What does MLS stand for?
My Listing Sheet
Multiple Listing Service
Major Leasing System
Multi-Location Search
What is a short sale?
A quick transaction
When the proceeds of the sale are less than the balance of the mortgage
A cash sale
When the bank owns the property
What is the average length of time from offer to closing?
2-4 weeks
6-8 weeks
10-12 weeks
More than 12 weeks
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