Chapter 12 Flashcards

1
Q

When selling a home, you should think like a ——

A

Retailer

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2
Q

The return on investment of fix-up dollars is ——

A

Enormous

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3
Q

The most important aspect of preparation is attention to the ——— appeal

A

Curb

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4
Q

When selling your home, make sure that it is listed on the ——

A

Internet

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5
Q

When selling, statistical research has found that the best realtors are worth —— than they cost

A

More

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6
Q

The exposure through the —— listening service (MLS) is worth it

A

Multiple

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7
Q

When selecting a realtor, do not rely on —— or ——

A

Friendships, relatives

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8
Q

These are professionals. You should always —— them

A

Interview

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9
Q

Offering a home —— will typically not make a sale. If the buyer asks for a warranty, then consider it with that offer

A

Warranty

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10
Q

Home ownerships is a great investment for three reasons:

  1. Its a —— savings plan
  2. Its an —— hedge
  3. It grows virtually —— - ——
A
  1. Forced
  2. Inflation
  3. Tax-free
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11
Q

Title insuranc insures you against an —— title, which is when your proper ownership is an question. It is a good buy

A

Unclean

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12
Q

Always get a land —— if buying more than a standard subdivision lot.

A

Survey

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13
Q

Realtors access to the —— system can make house hunting easier, but be careful. Many agents can only think like retailers, which is not what you want when buying

A

MLS

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14
Q

Buy in the —— price range of the neighborhood

A

Bottom

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15
Q

Homes appreciate in good neighborhoods and are priced based on three things:

A

Location, location, location

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16
Q

If possible, buy near —— or with a ——

A

Water

View

17
Q

Always buy a home that is (or can be) attractive from the —— and has a good basic ——

A

Street

Floor plan

18
Q

Have the home inspected mechanically and structurally by a certified —— ——

A

Home inspector

19
Q

Appraisals are an “—— of value” but it’s better option than the current homeowner has always order one if in doubt

20
Q

What not to buy:

  1. —— or ——
  2. ——
A

Trailer or mobile homes

Timeshares

21
Q

First remember to —— debt

22
Q

The best mortgage is the —— down plan

23
Q

There is nothing wrong with —— for a little while. This demonstrates —— and wisdom.

A

Renting

Patience

24
Q

Get a payment of no m re than —— of your take home pay on a —— fixed-rate loan, with at least —— down

A

25%
15 yr
10%

25
Adjustable rate mortgage (ARM) were bought on with the advent of —— interest rates in the early 1980’s
High
26
The concept of ARM is to—— The risk of higher interest rates to the ——- and, in return the lemme gives a lower rate up front
Transfer | Borrower
27
Of course —— Loans are a bad idea you are only paying the interest
Interest only