Choose the One Most Appropriate Answer for Each

question 7

Multiple Choice

Choose the one most appropriate answer for each.
-the day on which the closing is finalized. Also called the settlement date

• A)30-day month
• B)beneficiary statement
• C)CC&Rs
• D)closing date
• E)closing meeting
• F)deed delivery
• G)dry closing
• H)escrow agent
• I)escrow closing
• J)good faith estimate
• K)HUD settlement statement (HUD-1)
• L)loan escrow
• M)offset statement
• N)outside of the closing
• O)prorate
• P)RESPA
• Q)settlement meeting
• R)settlement statement
• S)title closing
• T)walk-through

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Definitions:

Valuable Selling Space

Prime retail or commercial area within a store or market that is strategically used to display and sell products to maximize customer purchases.

Markdown

A reduction from the original or listed price of a product, often to clear inventory or stimulate sales.

Final Selling Price

The ultimate price at which a product or service is sold to the consumer, including all taxes, fees, and discounts applied.

Discounting

The practice of reducing the selling price of goods or services, typically to stimulate sales or clear out inventory.