Quiz
How Smart a Home SELLER Are You?
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Questions in this quiz (10)
1In most states, you must disclose any known defects of the house to potential buyers.
- ATrue
- BFalse
2For 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?
- Anone
- B100,000
- C200,000
- D250,000
3Which home repairs produce the greatest return at sale?
- AUpdate bathroom
- Bupdate kitchen
- Cclean and declutter
- Dpaint exterior
4If you sell your residence and lose money, you cannot write off those losses on your taxes.
- ATrue
- BFalse
5When potential buyers and their agents come to see your house, it's best for you to:
- Astay
- Bleave
6Once you commit to a real estate agent, you have to keep him or her until you sell.
- ATrue
- BFalse
7Your 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?
- ATrue
- BFalse
8Who typically pays a real estate agent's commission?
- Abuyer's ageny
- Bbuyer
- Cseller's agent
- Dseller
9If 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?
- AYou can borrow it from a home-equity line of credit secured by your current home.
- Byou can borrow the money from your IRA.
- Cyou can borrow the money from your 401k.
- Dall of the above.
10Setting a fair price and refusing to bargain is the best pricing strategy.
- ATrue
- BFalse
Information
- Description
- Quiz on How Smart a Home SELLER Are You?, created by Jay Gray on 25/03/2017.
- Author
- Jay Gray
- Language
- English
- Views
- 13
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