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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

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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