True or false: You need a 20% down payment to buy a home.
True
False
True or false: You don’t need perfect credit to buy a house.
True
False
When you want to see inside a house you should...
Call the listing agent to see the house.
Knock on the door and see if the owner can show you around.
Use the virtual tour and submit an offer.
Have a dedicated buyer’s agent you’re working with schedule a day and time to show you the house.
When should you get pre-approved for a mortgage?
Before you even start looking at houses.
Before you even start looking at houses.
Never; it’s not necessary.
After your agent has asked you to do so for the 11th time.
Which of the following shouldn’t you go out and buy before your mortgage is approved and you’ve closed on your new home?
Groceries
A new car.
A nice gift for the agent who is helping you buy a house.
A bottle of champagne to pop open on the day of your closing.
How long should you wait to go see a house once it is listed?
Go as soon as you and your agent can possibly go to see the house.
Wait until there is an open house.
Give it a few weeks so the owner doesn’t think you’re anxious, excited, or even all that interested in the house, so you have more leverage to negotiate.
Wait until they reduce the price at least once.
Once you find a house you like, which of the following should you do?
Sleep on it, and give it some thought before rushing in with an offer.
Keep looking at every house on the market until you’ve seen them all. Then wait a couple of weeks to see if any more come on. If it’s still on the market, then you can make an offer.
Don’t wait; make an offer on the house right away.
Check your horoscope to see if it’s a good time for you to make an offer.
Your home inspection can be done by:
A friend or relative who is a contractor, or has at least bought two homes in their life.
You and your agent, using a checklist of things to look for.
A licensed home inspector.
A real estate appraiser chosen by your mortgage lender.
Which of the following things found during a home inspection should you ask the homeowner to address?
Carpet that has pet stains.
A furnace that isn’t working
Squeaky door hinges
An old stove that is working fine, but probably going to need to be replaced in a few years.
What is the purpose of the appraisal?
So you can see how accurate the Zestimate for the house actually was.
To make sure the house is in good condition and everything is working properly.
For the seller to figure out if your offer is acceptable or not.
For the lender to make sure the house is worth what you’re paying for it, before agreeing to lend you the money to buy it.
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