Homebuying 101
What is the first step in the homebuying process?
What is getting pre-approved
What should be placed outside to attract attention to an open house?
What are signs
What is the minimum downpayment for an FHA loan?
What is 3.5%
What is a CMA?
What is a Comparative Market Analysis.
A pre-approval is the same as a pre-qualification.
False
Who are the parties to the contract?
Buyers and Sellers
What should you collect from visitor at an open house?
What is there information such as name, number, address, email, and if they are working with a Realtor
What is the typical down payment for a conventional loan?
What does "Dual Agency" mean?
When an agent is representing both buyer and seller
Buyers always pay their agent direcly?
False.
How many types of Buyer Representations are there?
What is a VA Loan.
What does "escrow" refer to?
What is a neutral third party holding funds until the deal closes.
True or False: The typical Buyer Broker Representation Agreement is 90 days.
false.
How many contingencies does a buyer have?
Potentialy 9.
What is PMI?
What is Private Mortgage Insurance.