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Real Estate Trivia
Welcome > Resources > Trivia ...

Enjoy! 

I've added these real estate trivia questions for your enjoyment. And you might learn something new in the process! Have fun... 


Q 

What is an encumbrance against a property, which may be voluntary or involuntary?

A  There are many different kinds of liens: a tax lien, a judgment lien, a mortgage lien, and a mechanic's lien.

Q 

What mortgage transactions between borrowers and lending institutions operate in the private sector of the economy?

A  Conventional mortgages are private sector transactions that are not insured or guaranteed by the government.

Q 

Where was the great land boom (1919) in which investors paid up to $25,000 for lots not yet dredged up from the ocean?

A  The great Florida land boom brought hundreds of investors to the state after Carl Fisher founded Miami Beach in 1919.

Q 

What did 75% of 10,000 buyers surveyed by the NAR list as their top reasons for selecting a Real Estate Professional?

A  Knowledge of the housing market, knowledge of real estate practices and financing, and familiarity with neighborhoods.

Q 

1992 marked the first year since before the Civil War that there were fewer than 2 million ________ in the United States?

A  There are fewer than 2 million farms, and agricultural land is still being carved up for residential and commercial uses.

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Real Estate Tips
Cosmetic Improvements >Handle Needed Repairs Early

There is a standard chain of events that occurs when an offer comes in on a home. After a meeting of the minds, the buyer often brings in a home inspector who may find a few items that need to be repaired. The real estate agent gives the homeowner a list of the requested repairs. What comes next?

In most transactions, the seller will take care of the repairs. Many sellers wait until the week before the closing to call someone to do the work, because they want to be sure that they are going to make it to the closing table before they spend money on repair work. If you are responsible for making repairs to a home you are selling, make sure you have the work done well in advance of the closing date by licensed professionals who will stand behind their work. If the work is done at the last minute and is incomplete or unsatisfactory, it could cause complications at the closing. You should provide the buyers with all the receipts and the names of the persons to contact in case there is a problem with the repairs.

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Barbara Berkowitz, REALTOR®, real estate agent and broker for Granby, Simsbury and Suffield, Connecticut home listings, property and land for sale - NUMBER1EXPERT

Barbara Berkowitz
Coldwell Banker Residential Brokerage

700 Hopmeadow Street
SIMSBURY, CT 06070
Phone: 860-653-7134
VOICE MAIL: 860-606-1410
CELL PHONE: 860-490-3776
FAX: 860-658-6304
Email: barbaraberkowitz@NUMBER1EXPERT.com
EMAIL: bberkowitz@cox.net

LET ME MAKE YOUR DREAM A REALITY! I PROMISE TO PUT YOUR NEEDS ABOVE ALL ELSE TO HELP MAKE THIS THE MOST ENJOYABLE EXPERIENCE POSSIBLE.

ePro ABR CRS REALTOR


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