SET 1
What is a written and signed contract whereby the conditions of the sale of the home are agreed upon by the seller and buyer?
Agreement of Sale (Sales Agreement)
What is are the expenses which owners and sellers incur during the purchase/sell of a home in addition to the price of the property?
Closing Cost
Whar are funds such as the Down Payment or Earnest Money, held by a third party until the sale of the home is final?
Escrow
What sound do porcupines make when they kiss?
What is a legal term applied to the actions of a lender forcing the re-payment of debt on the home by taking and selling the mortgaged home?
Foreclosure
what is the insurance that protects the buyer should it be discovered that the home was sold incorrectly?
Title Insurance
what is an amount of money the buyer pays to the seller immediately upon signing the agreement of sale. Applied to final purchase cost, but can be forfeited to seller if buyer does not buy house?
Down Payment/Earnest Money
What do you call security guards working outside Samsung shops?
Guardians of the Galaxy
What is a formal written instrument by which title of a property is transferred from the seller to the buyer?
A Deed
What is HUD?
U.S. Department of Housing and Urban Development
What is a claim against the purchased home given to the lender by the borrower as assurance of loan repayment?
Mortgage
What do you call a belt with a watch on it?
A waist of time
What is the difference between how much a house is valued as being worth, and the amount the owner still owes on the house?
Equity
What is cost of borrowing money?
Interest
What is the price at which the buyer agrees to buy, and the seller agrees to sell, the home?
Purchase Price
What do you call a funny mountain?
hill-arious