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Real Estate Closing Documents: Overview & Description

Instructions:

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

question 1 of 3

A closing is also referred to as:

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1. Borrowers may be required to sign the following IRS form:

2. A document that helps to secure a lender's rights to real estate is called:

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This quiz provides questions to check how well you know the terms, documents and concepts of the closing documents in real estate. You will be asked about such things as what is a closing as well as IRS forms that may be needed.

Quiz & Worksheet Goals

The quiz will ask you about things like:

  • Another name for a closing
  • IRS documents the borrower may be required to sign
  • The document that helps secure a lender's rights to real estate
  • The legal document that may be attached to another legal document
  • Covenants

Skills Practiced

The student can use this quiz and worksheet to test skills, such as:

  • Making connections - use understanding of documents that secure a lender's rights to property
  • Defining key concepts - ensure that you can accurately define main terms, such as covenants and a closing
  • Information recall - access the knowledge you've gained regarding IRS forms that may be needed

Additional Learning

To enhance your knowledge, review the lesson called Real Estate Closing Documents: Overview & Description. This lesson will discuss:

  • Understanding what you are signing at the close
  • Getting to know what information the lender can gather about you
  • Using a promissory note
  • Breaking down fees involved
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