Question 16 1 out of 1 points Which of these closing expenses is customarily

Question 16 1 out of 1 points which of these closing

  • Chabot College
  • REST 84
  • Test Prep
  • rickyd510
  • 14
  • 100% (73) 73 out of 73 people found this document helpful

This preview shows page 11 - 14 out of 14 pages.

Question 16 1 out of 1 points Which of these closing expenses is customarily split evenly by the two parties? Selected Answer:a. Escrow feeAnswers: a. Escrow feeb. Recording feesc. Attorney's feesd. Appraisal fee Question 17 0 out of 1 points
Image of page 11
Which of the following forms does an escrow agent use to report to the Internal Revenue service the gross proceeds of a sale of real property? Question 18 1 out of 1 pointsWhich law has the intent of providing borrowers with accurate information about their closing costs?
Image of page 12
Question 19 1 out of 1 pointsWhat law requires 10% of the net proceeds to be withheld when property is sold by a nonresident alien? Question 20
Image of page 13
0 out of 1 points Which of the following is not a requirement of RESPA? Selected Answer: a. All settlement charges must be itemized on a Closing DisclosureAnswers: a. All settlement charges must be itemized on a Closing Disclosureb. The lender must give applicants a booklet about settlement procedures within three days of receiving an applicationc. A buyer may not be required by the seller to use a particular title companyd. Loan advertisements must include the annual percentage rate Saturday, July 30, 2016 7:46:26 PM PDT
Image of page 14

You've reached the end of your free preview.

Want to read all 14 pages?

  • Spring '14
  • AMBERD.HATTER
  • title insurance, Escrow

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture