- You have to answer 80% of the questions correctly.
- The exam contains 4 questions.
- You have unlimited time to complete the exam.
- You have as many attempts as you need.
- A score of 80% is required to pass the exam.
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Question 1 of 4
1. Question1 point(s)
__________ ____________ is a method of ______________ ______________ in which the seller _______________ the buyer’s purchase. The buyer then makes ____________ directly to the __________ rather than to a _________ or another ________.
is a method of in which the seller the buyer’s purchase. The buyer then makes directly to the rather than to a or another .
Question 2 of 4
2. Question1 point(s)
In which cases might seller financing be a suitable option? Check all that apply.
Question 3 of 4
3. Question1 point(s)
Owner Carry Mortgage normally requires a downpayment, however the seller carries the mortgage for the property purchase. A promissory note is signed stating the buyer will repay the loan.
Question 4 of 4
4. Question1 point(s)
Wraparound Mortgage is when the homeowner has an existing mortgage on the property: the seller chooses to refinance the existing mortgage and sell the property to a buyer at an agreed upon price over a set length of time at a specified interest rate.