How Smart a Home SELLER Are You?

Beschreibung

Quiz on How Smart a Home SELLER Are You?, created by Jay Gray on 25/03/2017.
Jay Gray
Quiz von Jay Gray, aktualisiert more than 1 year ago
Jay Gray
Erstellt von Jay Gray vor mehr als 7 Jahre
8
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Zusammenfassung der Ressource

Frage 1

Frage
In most states, you must disclose any known defects of the house to potential buyers.
Antworten
  • True
  • False

Frage 2

Frage
For single taxpayers, how much profit from a home sale is tax-free if you've lived in the home at least two years before selling?
Antworten
  • none
  • 100,000
  • 200,000
  • 250,000

Frage 3

Frage
Which home repairs produce the greatest return at sale?
Antworten
  • Update bathroom
  • update kitchen
  • clean and declutter
  • paint exterior

Frage 4

Frage
If you sell your residence and lose money, you cannot write off those losses on your taxes.
Antworten
  • True
  • False

Frage 5

Frage
When potential buyers and their agents come to see your house, it's best for you to:
Antworten
  • stay
  • leave

Frage 6

Frage
Once you commit to a real estate agent, you have to keep him or her until you sell.
Antworten
  • True
  • False

Frage 7

Frage
Your father bought his home in 1950 for $15,000. When he died, he left you the house, which is now worth $315,000. Do you have to pay taxes on the $300,000?
Antworten
  • True
  • False

Frage 8

Frage
Who typically pays a real estate agent's commission?
Antworten
  • buyer's ageny
  • buyer
  • seller's agent
  • seller

Frage 9

Frage
If you already own a home and are looking to move up, where can you get the money to cover a down payment and closing costs until your previous home sells?
Antworten
  • You can borrow it from a home-equity line of credit secured by your current home.
  • you can borrow the money from your IRA.
  • you can borrow the money from your 401k.
  • all of the above.

Frage 10

Frage
Setting a fair price and refusing to bargain is the best pricing strategy.
Antworten
  • True
  • False
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