Section 5 - From Contract to Closing in Alabama Questions and Answers 100% Correct

Section 5 - From Contract to Closing in
Alabama Questions and Answers 100%
Correct
A - ANSWER - When is the mortgage loan commitment or title insurance contract signed?


A. At the closing


B. The day after closing on the property to ensure proper transfer of title


C. The day prior to closing


D. Weeks prior to closing


A - ANSWER - At the closing table, who examines all documents for buyers and represents
their best interests?


A. Buyer's attorney


B. Escrow agent


C. Lender's attorney


D. Title insurance representative


A. Assured themselves that the conditions and contingencies of the purchase agreement have
been met.


B. Moved locations

, C. Paid the balance of the purchase price to the seller


D. Paid the title representative for the closing


A - ANSWER - Who closes on the mortgage loan commitment at closing?


A. The buyer and the lender's attorney


B. The buyer and the seller


C. The buyer and the title insurance rep


D. The lender's attorney and the broker for the buyer


A - ANSWER - You're about to attend your client's closing. Who will conduct the closing
meeting?


A. The closing agent


B. The lender


C. The seller


D. You


C - ANSWER - Corinne, an escrow agent, is preparing for the Thomas/Trenton closing in four
days. Which of these documents will Corinne prepare?


A. She'll prepare a seller net sheet to disclose the seller's net profit on the sale.