| A legal document that describes the conditions of a rental agreement is called a lease | True |
| Title insurance protects the buyer if problems are found with a properties taxes | False |
| To sublet is to let a roommate move in with you and share the cost of rent | False |
| Zoning laws are regulations that limit how property in a given area can be used | True |
| A buyer usually pays a real estate agent a commission | False |
| Most adjustable rate loans have a rate cap | True |
| A disadvantage of owning a condominium is that it may be hard to sell | True |
| A condominium is a living arrangement where members of the organization do not usually own the building | False |
| Private mortgage insurance is a special policy that protects the lender in case the buyer cannot make payments | True |
| Tax benefits are an advantage of renting a house | False |
| A bank pays the full amount of a mortgage to | C. The seller |
| The following are all advantages of owning a condominium EXCEPT | A. Easy to move |
| A lender may ask a buyer to deposit money in an escrow account for paying | A. Property taxes |
| An example of an attached home is a | B. townhouse |
| What should homeowners do when preparing to sell their home | D. Make needed repairs |
| When deciding how much to offer for a home, you should consider each of the following factors except | A. Whether the interior walls need painted |
| A home inspector is responsible for | C. Evaluating the house and the land |
| Renting is often a wise choice for someone who wants | D. Mobility |
| What might a buyer do to get a low interest rate | B. pay points |
| A disadvantage of renting is | C. Restricted activity |
