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@financialabundance

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5. What is a "condominium"?Anonymous voting
  • A) A type of property with individual ownership of units and shared common areas 
  • B) A single-family home 
  • C) A type of commercial property 
0 votes
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4. What is the role of a property manager?Anonymous voting
  • A) To design properties 
  • B) To manage the daily operations of rental properties 
  • C) To finance property purchases 
0 votes
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3. What type of market occurs when there are more buyers than sellers?  Anonymous voting
  • A) Buyer’s Market 
  • B) Seller’s Market 
  • C) Neutral Market
0 votes
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2. What does "FSBO" stand for?  Anonymous voting
  • A) For Sale By Owner 
  • B) Fixed Sale By Owner
  • C) For Sublease By Owner 
0 votes
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1. Which document is used to transfer ownership of real estate?Anonymous voting
  • A) Deed 
  • B) Lease 
  • C) Title Insurance
0 votes
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Ready for Quiz 99? 3.2.1... ⏰ 🏆 Previous Quizzes 🏆
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5. What is an escrow account used for in real estate transactions?Anonymous voting
  • A) To hold funds for repairs   
  • B) To temporarily hold funds until conditions are met 
  • C) To pay property taxes
0 votes
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4. What is the main purpose of title insurance?Anonymous voting
  • A) To protect against natural disasters 
  • B) To protect the lender and buyer from title defects 
  • C) To insure the property’s value 
0 votes
❀ 2
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3. What is a "short sale" in real estate?Anonymous voting
  • A) Selling a property for a profit in a short time   
  • B) Selling a property for less than the mortgage balance owed 
  • C) Selling a property with minimal renovations
0 votes
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2. What does a "lien" on a property signify?Anonymous voting
  • A) Ownership of the property 
  • B) A legal claim against the property for unpaid debt   
  • C) The right to lease the property
0 votes
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