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Buying a Home: Steps & Process

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What does a real estate appraiser do?

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1. What is the term used for the percentage of the purchase price that buyers may need to pay toward the purchase of their home?

2. Which of the following is NOT one of the key steps in home buying?

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About This Quiz & Worksheet

Use this quiz/worksheet to assess your knowledge of what is entailed in finding, financing and closing on a home. You will be quizzed on key terms and your ability to recognize true statements about this process.

Quiz & Worksheet Goals

The multiple-choice format of this quiz will require that you choose the correct answers pertaining to:

  • What a real estate appraiser does
  • The term describing the percentage of the selling price that buyers pay toward purchasing the home
  • The steps involved in the home buying process
  • The acceptance of an offer by both a buyer and a seller
  • Which step of the process involves the buyer visiting a title company

Skills Practiced

  • Interpreting information - verify that you can read information about the acceptance of an offer and interpret it correctly
  • Information recall - access the knowledge you've gained regarding each step of the home buying process
  • Knowledge application - use your knowledge to answer questions about the duties of a real estate appraiser and when a buyer contacts a title company

Additional Learning

There is a lot involved in buying a home, and you might wish to review detailed information about this topic. You can do so by using the lesson titled Buying a Home: Steps & Process, which covers:

  • What should be considered when finding a home
  • The price negotiation process between buyer and seller
  • How buyers secure a home and arrange financing
  • Home inspections and appraisals
  • What happens during the closing on a newly-purchased home
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