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WorksheetsHome-Buying Basics - Final Assessment
Total questions: 10
Worksheet time: 5mins
Which type of skills does the presentation recommend you have before buying a home?
Basic home repair skills
Painting skills
Public speaking skills
Money-management skills
According to the presentation, lenders judge your ability to borrow based on which of the following?
Age, gender and location
Education, income and family size
Income-to-age ratio
Debt-to-income ratio
The presentation said most recommend having a down payment equal to what percentage of the home price?
5 percent
10 percent
20 percent
25 percent
According to the presentation, most sellers will only accept an offer from a buyer with which of the following?
The same real estate agent as the seller
An offer more than the asking price
An FHA or VA loan
A pre-approval letter
John Darden said one common mistake home buyers make is hiring which of the following?
A professional home inspector
An escrow lawyer
A friend or relative as a real estate agent
A personal home shopper
When house hunting, the presentation recommends limiting the homes you look at to which of the following?
Homes within your budget
Homes in your desired location
Homes with the features you need
Homes that are newly listed
The presentation recommends bringing which of the following to a house when looking at it with your real estate agent?
Everyone who will live in the house
A tape measurer
A camera
Someone who has bought a house before
In addition to making sure a home meets your needs, you should also check which of the following?
The home qualifies for government support
The home is a good investment
The home’s seller is easy to work with
The home will incorporate amortization
What does the presentation recommend you do if you find a home fitting your needs and budget?
Continue looking for a few days
Stop searching
Revisit your three favorites
Show the house to your parents
John Darden said a buyer may be able to negotiate to get the seller to pay for which of the following?
Down payment
Home inspection
Closing costs
Homeowners insurance
