What is one of the contingencies a buyer might list when making an offer on a house?

Understanding Escrow in Real Estate

Interactive Video
•
Business, Life Skills
•
9th - 12th Grade
•
Hard

Lucas Foster
FREE Resource
Read more
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The house must have a swimming pool.
The house must pass inspection.
The house must have a garden.
The house must be painted blue.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What can a seller do if they find the buyer's offer too low?
Both reject the offer and make a counter offer.
Reject the offer outright.
Make a counter offer.
Accept the offer as is.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the first step after an offer is accepted in a real estate transaction?
The seller receives the full payment.
The opening of escrow.
The buyer moves into the house.
The house is listed again.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of escrow in a real estate transaction?
To provide a loan to the buyer.
To allow the buyer to live in the house before purchase.
To ensure both parties meet their obligations.
To increase the price of the house.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who manages the escrow account during a real estate transaction?
The seller
The real estate agent
The buyer
The escrow agent
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is the buyer's deposit placed in an escrow account?
To ensure the seller receives it immediately.
To allow the buyer to change the offer amount.
To prevent the buyer from withdrawing the offer.
To ensure the deposit is secure until conditions are met.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens on the closing date of a real estate transaction?
The seller moves out of the house.
The buyer and seller renegotiate the terms.
The buyer receives the keys to the house.
The escrow agent disperses the funds and transfers the title.
Create a free account and access millions of resources
Similar Resources on Quizizz
11 questions
Real Estate Offer Contingencies

Interactive video
•
9th - 12th Grade
10 questions
Negotiation Scenarios and Outcomes

Interactive video
•
9th - 12th Grade
11 questions
Car Buying Process and Features

Interactive video
•
9th - 12th Grade
11 questions
Etsy's Journey and Challenges

Interactive video
•
10th - 12th Grade
11 questions
Art Negotiation and Valuation Concepts

Interactive video
•
9th - 12th Grade
11 questions
Understanding Business Negotiations in the Jensen World

Interactive video
•
10th - 12th Grade
6 questions
Etsy Sellers Close Up Shop To Protest Increased Transaction Fees

Interactive video
•
9th - 10th Grade
10 questions
Understanding the Bike Sale Scenario

Interactive video
•
9th - 12th Grade
Popular Resources on Quizizz
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade
Discover more resources for Business
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade