Closing Costs for the Seller & Buyer


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question 1 of 3

What is the general definition of closing costs?

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1. Which of the following fees are almost always paid by the seller?

2. Which of the following items are prorated and divided between the buyer and seller?

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About This Quiz & Worksheet

Explore what you know about real estate closing costs with these resources for studying. Quiz questions address specific topics including a definition of closing costs and the fees paid by a seller.

Quiz & Worksheet Goals

Use these assessments to:

  • Identify items that are prorated and divvied up between a buyer and a seller
  • Determine where a buyer can observe a list of closing costs
  • Recognize how homeowner's insurance is paid at closing

Skills Practiced

Practice the following study skills with the worksheet and quiz:

  • Interpreting information - verify that you can read information regarding how homeowner's insurance is paid at closing and interpret it correctly
  • Information recall - access the knowledge you've gained regarding where a homeowner can see a list of closing costs
  • Knowledge application - use your knowledge to answer questions about real estate closing costs

Additional Learning

Explore further this area of study via the lesson entitled Closing Costs for the Seller & Buyer. The lesson covers the following objectives:

  • Define good faith estimate
  • Differentiate between closing costs paid by the buyer and seller
  • Explain prorated expenses