1.5

Question 0

A buyer’s agent best avoids problems at closing by wording purchase agreement _______ clearly and completely.

Answer 0

clauses

Question 1

From a closer’s point of view, purchase agreement clauses are ______.

Answer 1

instructions

Question 2

Be as clear and specific as possible in describing conditions or _________.

Answer 2

contingencies

Question 3

Usually, improvement loans and other ______ loans must be paid off at the time of closing because they are almost never assumable.

Answer 3

equity

Question 4

Clauses poorly written by a buyer’s agent should be countered by the sellers with the advice of their _______.

Answer 4

agent

Question 5

True or False:

From a closer’s point of view, a purchase agreement clause is an instruction.

Answer 5

True

Question 6

The pre-printed language in purchase agreements covers ______.

Answer 6

typical issues

Question 7

You can insert extra clauses on any _____ lines on the purchase agreement.

Answer 7

blank

Question 8

You can reduce your chances of making mistakes about the seller’s estimated net proceeds by using a ______ form.

Answer 8

preprinted