Question

1. What documents provided by the seller describes the condition of the property?

A). Home inspection report B). Loan estimate C). Comparative market analysis D). Property disclosure

2. Whats the biggest reason to make your offer contingent on a professional home inspection?

A). It could reveal issues you were unawar of

B). It will help you negotiate a lower price

C). Lenders require professional inspection

D). Professional inspection is required by law.

3). Which one of these is the best description of comparative market analysis?

A). It shows the list prices of similar homes in the area

B). It shows what similar homes in the area have recently sold for

C). It's a guide to the minimum acceptable offer

D). it discloses isses with the home that are known to the seller.

4. Most purchse agreement are contingent on which two items?

A). Appraised value B). Property description C). Clear title D). Title insurance

Answer 1

1. Home Inspection report. As the name suggests, home inspection report discloses the condition of the property.

2. it could revealed issues you were unaware of. A buyer has the option to make their purchase offer contingent on an inspection of the home.

3. It shows the list prices of similar homes in the area. It shows active listings.

4. Title and Title Insurance. Factual.

Answer 2

Property disclosure