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Real Estate

What does the term "MLS" stand for in the context of real estate?
Multiple Listing Service
Market Listing System
Maximum Loan Scenario
Mortgage Lending Standard
What is the purpose of a "deed" in a real estate transaction?
It outlines the terms of the mortgage agreement.
It serves as proof of ownership and transfers title from the seller to the buyer
It estimates the property's market value.
It lists the various inspections needed before purchasing a property.
What is "cap rate" in real estate investment terms?
The annual return on investment expressed as a percentage of the property's purchase price
The total cost of capital required to purchase a property
The potential appreciation of the property's value over time
The average time it takes for a property to be sold on the market
Which of the following is considered a recurring cost of homeownership?
Down payment
Closing costs
Property taxes
Appraisal fee
Which of the following factors does NOT typically influence the valuation of a property?
Location
Square footage
Owner's marital status
Property condition
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