The buyer wishes to make an offer to buy a house for 240000 with 70 financed

The buyer wishes to make an offer to buy a house for

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QUESTION# 98The buyer wishes to make an offer to buy a house for $240,000, with 70% financed through 30-year fixed-rate mortgage and a 30% cash down payment. How much is the down payment?a.$24,000b.$7,200c.$72,000d.$168,000QUESTION# 99Under what condition may the seller receive the earnest money if he timely terminates under the Loan Assumption Addendum?Which paragraph of the One to Four Family Residential Contract indicates if the buyer has received the seller’s disclosure notice?QUESTION# 101Marital status must be included in which paragraph of the One to Four Family Residential Contract?QUESTION# 102©2016 Kaplan, Inc.May be reproduced for educational uses only.
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Texas Promulgated Forms, Second Edition UpdateWhich of the following is TRUE regarding the Loan Assumption Addendum?a.The period for the buyer to provide credit documentation to the seller is seven days after the effective date of the contract.b.The period for the seller to terminate under the Loan Assumption Addendum is negotiable.c.The period for the seller to terminate under the Loan Assumption Addendum is seven days.d.If the buyer provides the credit documentation but the seller decides the buyer’s credit is unacceptable and terminates, the earnest money will be paid to the seller.©2016 Kaplan, Inc.May be reproduced for educational uses only.
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