Clay MADISEN :: House Seller Quiz

House Seller Quiz

Test your knowledge about the home selling process.

Question: Which of the following factors will have the LEAST affect on how fast a house will sell ?

Question: If I want to sell my house on my own, I may not be able to market it to as many people as I could if I had a real estate agent list my house on the Multiple Listing Service (MLS).

Question: If I use a real estate agent to advertise my home for sale, I have the ability to negotiate the commission rate.

Question: The entity that coordinates a sale or purchase of a property and makes sure all terms of the contract are met before closing the transaction is called :

Question: The number of square feet in an acre is :

Question: Which of the following disclosures is required by law?

A Real Estate Transfer Disclosure Statement.

Lead Based Paint and Lead Based Hazards Disclosure Statements.

Question: Light fixtures mounted to the ceilings and walls unless otherwise agreed to are considered to be :

Question: What is the best way to determine the listing price of your home ?

Check in the local newspapers to see what the homes in the immediate neighborhood are asking.

Choose a real estate agent from a reputable company in your area to provide a comparative market analysis on your home.

Look up how much you paid when you purchased your home and add 7% to that figure for each year you have owned the house, minus 3% for age deficiency, then add back in remodeling and addition costs that you incurred.

Question: If your home is listed and you have a showing appointment, it is usually best to :

Be there to answer questions the viewers may have.

Leave for the showing, go for a walk, grocery shop or visit the neighbors so they can view the home with their realtor.

Be there to let them in and then leave for part of the time.

Question: Prior to listing your property for sale on the market, which of these items should you do first ?

Order an appraisal from a licensed real estate appraiser.

Have a comparative market analysis prepared by a real estate professional in your area.

Fix up the house by painting, landscaping and cleaning all of the closets out.

Check with the title company to see if the title work is up-to-date.