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Seller Financing: Definition, Method & Effects

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 seller financing?

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1. What is the name of the document that the buyer and seller write that outlines the terms of the loan?

2. Which of the following is a disadvantage of seller financing for the buyer?

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About This Quiz & Worksheet

This quiz and corresponding worksheet investigate seller financing, including its benefits and negatives for sellers. Topics you should familiarize yourself with in order to pass the quiz include the definition of seller financing and advantages of seller financing for the seller.

Quiz & Worksheet Goals

Use this worksheet and quiz to gauge your knowledge of:

  • What seller financing is
  • The document outlining the terms of seller financing
  • Some pros and cons of seller financing for the seller
  • A requirement for a seller to offer seller financing

Skills Practiced

Practice the following skills as you work through the quiz and worksheet:

  • Reading comprehension - ensure that you draw the most important information from the related lesson regarding advantages and disadvantages for a seller considering seller financing
  • Defining key concepts - accurately define and identify main concepts from the lesson, including seller financing and the legal document needed for seller financing
  • Information recall - access your knowledge of typical seller requirements for seller financing

Additional Learning

To learn more about the topic of seller financing, read through the lesson titled Seller Financing: Definition, Method & Effects. It digs deeper into the following objectives:

  • Examine the methodology of seller financing
  • Identify the pros and cons for sellers who pursue seller financing
  • Recognize the advantages and disadvantages for buyers in seller financing
  • Discover the role of negotiation in seller financing
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