Financing Documents in a Real Estate Sale

Instructions:

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

question 1 of 3

Which of the following documents describes a legal instrument given by a borrower to a payee, in which the borrower promises to repay a loan?

Create Your Account To Take This Quiz

As a member, you'll also get unlimited access to over 79,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime
Already registered? Log in here for access

1. What is the purpose of a lien?

2. Which of the following real estate financing documents contains the most information?

Create your account to access this entire worksheet
A Premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

About This Quiz & Worksheet

There are a number of different forms and documents used when buying/selling real estate. This assessment has been put together to provide you with an opportunity to test your knowledge of these different documents and the terms used to describe them.

Quiz & Worksheet Goals

With this assessment you will be able to test your understanding of:

  • Different documents used in real estate transactions and their purposes
  • Where you can find information regarding a real estate transaction
  • Terms used to describe the different parties of a real estate transaction

Skills Practiced

In this assessment you will also test your abilities:

  • Defining key concepts - ensure that you can accurately define main phrases, such as lien and mortgage
  • Knowledge application - use your knowledge to answer questions about different real estate financial documents
  • Information recall - access the knowledge you've gained regarding documents used in real estate transactions

Additional Learning

To help you learn about the financial documents use in real estate transactions this assessments comes with a short and engaging lesson, Financing Documents in a Real Estate Sale. Review this lesson to improve your understanding of:

  • Loan Agreements
  • Promissory Notes
  • Deeds of Trust
Support