Some Real Estate Agents and Lenders Refer to a Loan

question 15

True/False

Some real estate agents and lenders refer to a loan that is carried back by a seller as a purchase money mortgage.

Analyze the relationship among price, cost, and value in sales.

Utilize external sources and reports to support claims and overcome objections.

Apply the price-value formula effectively in addressing price objections.

Identify and counter product-specific objections using factual information.

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Definitions:

Financial Liability

A financial liability refers to the obligation to pay money to another party, typically arising from borrowing money, purchasing goods or services on credit, or other financial agreements.

Deferred Revenue

Money received by a company for goods or services which have not yet been delivered or performed.

Notes Payable

Short-term or long-term liabilities representing amounts owed to creditors, documented by promissory notes.

Long-term Note Payable

A debt obligation that is not due for repayment within the next year or operating cycle of the business.