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Buying a House

Authored by John Robinson

Social Studies

12th Grade

Buying a House
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25 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a mortgage?

A loan borrowed to buy a house (if you don't pay the loan the bank takes your house)

A loan borrowed with your house as collateral (if you don't pay the loan the bank takes your house)

Both of these are true

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Who will you NOT have to pay in the process of buying a house?

A real estate agent (if you use one)

A home inspector

The home owners every time you visit the house

A lawyer to complete the closing paperwork

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A document that transfers ownership.

Escrow

Title

Deed

Easement

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Paperwork kept with a third party until certain requirements are met.

Escrow

Title

Deed

Easement

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When buying a house, _________ can be a factor in determining house prices.

historical prices

schools

location

all of the above

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The common disadvantage of buying a home is

fewer financial benefits

limited mobility

restrictions on decorating and having pets

conditions in the lease

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a down payment in the context of buying a house?

A) The full price of the house paid upfront

B) A percentage of the house price paid upfront

C) A monthly payment for the house

D) A fee paid to the real estate agent

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