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The Negotiating Process in Real Estate

Instructions:

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

question 1 of 3

What is the definition of delivery as it relates to the real estate negotiation process?

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1. Which of the following is true of a counteroffer in the real estate negotiation process?

2. What is the definition of a financial contingency in the real estate negotiation process?

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About This Quiz & Worksheet

You've found your dream house. Now what? A series of negotiations has to take place before you can become the owner. The quiz tests your understanding of terms, advantages, and facts regarding the real estate negotiation process.

Quiz & Worksheet Goals

The quiz requires you to:

  • Define delivery in real estate negotiations
  • Point out a fact regarding a counter offer
  • Give the meaning of a financial contingency
  • Describe the point of earnest money
  • Name an advantage of a home inspection contingency

Skills Practiced

  • Knowledge application - utilize your understanding to identify a fact about a counter offer in real estate negotiations
  • Information recall - access your knowledge of a financial contingency
  • Reading comprehension - ensure that you draw the most important information from the accompanying lesson on real estate negotiations

Additional Learning

Supplement your understanding of this topic by studying the lesson entitled The Negotiating Process in Real Estate. You will learn about:

  • The definition of an offer
  • What is meant by a house sale contingency
  • Who is involved in making and proposing counter offers
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