Thinking about Buying or Selling a Home in Northern Virginia?

How Much Do You Know about Real Estate and Your REALTOR?

TAKE THE REAL ESTATE QUIZ

Instructions:  E-mail me at brian@brianblock.com with your answers by Monday, October 5th at 12 noon.  Answers and Results will be announced on Tuesday, October 6th on this blog. (With some time spent researching, you can find the answers to all these questions on prior posts on the blog.)

One participant will be chosen at random to receive a $25 Gift Card.

Note:  Real estate agents, mortgage lenders, inspectors, appraisers are not eligible to participate.

GOOD LUCK!

1.  What is the current minimum down payment on an FHA Mortgage?

     A.  20%

     B.  3.5%

     C.  5.0%

     D.  10%

2.  The Settlement Statement that details the buyer and seller's costs is also known as:

     A.  HUD-1

     B.  1099

     C.  W-9

     D.  Form 860

3.  In Virginia, a real estate agent can represent both a buyer and a seller in the same transaction.

     A.  TRUE

     B.  FALSE

4.  The First Time Homebuyer Tax Credit Expires on:

     A.  December 31, 2009

     B.  October 31, 2009

     C.  April 15, 2010

     D.  November 30, 2009

5.  Which of the following can be contingencies of the real estate contract?

     A.  Home Inspection

     B.  Appraisal

     C.  Financing

     D.  All of the Above

6.  Brian Block has appeared on this television show:

     A.  Neil Cavuto Show on Fox News

     B.  Designed to Sell on HGTV

     C.  The Early Show on CBS

     D.  Both A & C

7.  What is a short sale?

     A.  A fast sale made in just a few days

     B.  A sale where the proceeds do not pay off the mortgage in full

     C.  A nightmare

     D.  A home sale that is done without a real estate agent

8.  Brian Block has NOT attended this real estate conference in 2009:

     A.  Inman Real Estate Connect

     B.  RE/MAX Conference

     C.  Virginia Association of REALTORS Conference

     D.  National Association of REALTORS Mid-Year Conference

9.  Which Zip Code is NOT in Northern Virginia?

     A.  22304

     B.  22904

     C.  22201

     D.  22151

10.  Lead Based Paint Disclosures are required for homes built before:

     A.  1976

     B.  1982

     C.  1978

     D.  2001

REMEMBER:  Send me your e-mail with your answers by Monday, October 5th at 12 noon to be eligible for the $25 Gift Card.