Unit 5-Real Estate
Quiz by Teresa
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29 questions
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- Q1an agreement between two or more people to bear a portion of an obligation.shared responsibility30sEditDelete
- Q2a person with whom you share living space and responsibilities.roommate30sEditDelete
- Q3your daily routine, or the way you choose to live your life.living habits30sEditDelete
- Q4the act of making a plan and carrying it out to ensure an event to take place.logistics30sEditDelete
- Q5a refundable amount paid to cover damages to property caused by a tenant.security deposit30sEditDelete
- Q6a legally binding agreement that specifies the rights and duties of each party.contract30sEditDelete
- Q7something of value exchanged for something in value.consideration30sEditDelete
- Q8a rental agreement that specifies the rights and duties of the landlord and tenant.lease30sEditDelete
- Q9the process of expelling a tenant from rented property.eviction30sEditDelete
- Q10a person hired to take care of rental property and to communicate with tenants on behalf of the owner.property manager30sEditDelete
- Q11cash deposit towards the purchase price.down payment30sEditDelete
- Q12something of value applied towards the down payment of a new purchase.trade-in30sEditDelete
- Q13a loan for which a maximum amount is established and approved in advance.pre-approved loan30sEditDelete
- Q14paying off an old loan by taking out a new loan, usually with better terms.refinancing30sEditDelete
- Q15the highest price a property will bring on the open market.market value30sEditDelete
- Q16a long-term debt agreement used to purchase real estate.mortgage30sEditDelete
- Q17a strategy for paying off debt in a way that reduces total interest paid.debt repayment plan30sEditDelete
- Q18a large lump sum payment that must be paid at a set time.balloon payment30sEditDelete
- Q19a contract in which a portion the rent payment is applied towards the purchase price of the rented item.rent-to-own agreement30sEditDelete
- Q20a fee charged if you repay a loan before the agreed upon time.prepayment penalty30sEditDelete