During a Home Purchase Closing,you Should

question 86

Multiple Choice

During a home purchase closing,you should

• A) Order an appraisal.
• B) Pay all closing costs, settle last-minute items, and sign documents.
• C) Schedule an inspection of the condition of the home.
• D) Sign documents and pay half of the settlement costs.
• E) Review zoning laws for the municipality where the home is located.

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Definitions:

Comparative Advantage

The capacity of an entity to generate a product or service with a smaller opportunity cost compared to others.

Free-Trade Policies

Economic policies that allow imports and exports to occur without restrictive tariffs, quotas, or other barriers to trade.

Protection

The practice of shielding a sector of the economy from foreign competition.

General Agreement on Tariffs and Trade

An international treaty aimed at promoting international trade by reducing or eliminating trade barriers such as tariffs and quotas; it was replaced by the World Trade Organization (WTO) in 1995.