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Cope Real Estate Team Real Estate Trivia

Give it your best shot and test your real estate knowledge for a chance to be entered into a drawing for gift card!

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  1. Does the seller have to do lender required repairs?
    Correct
    Incorrect
    The agent pays for the repairs.
    Correct
    Incorrect
    No
    Correct
    Incorrect
    Yes
    Correct
    Incorrect
    Buyer or Seller may have the repairs done.
    Correct!
    Wrong!

    This is correct!

    The buyer or seller may cover lender required repairs, as long as they are completed before closing.

  2. What is the required down payment for an FHA loan?
    Correct
    Incorrect
    15% down
    Correct
    Incorrect
    10% down
    Correct
    Incorrect
    3.5% down
    Correct
    Incorrect
    7% down
    Correct!
    Wrong!

    That is correct

    The minimum down payment amount for an FHA loan is 3.5%

  3. Can the seller pay for the buyers closing costs?
    Correct
    Incorrect
    Yes
    Correct
    Incorrect
    No
    Correct!
    Wrong!

    That is correct

    The seller can pay for the buyers closing costs.

  4. How many years of college are required to sell Real Estate in CA?
    Correct
    Incorrect
    4 years
    Correct
    Incorrect
    No college required
    Correct
    Incorrect
    2 years
    Correct
    Incorrect
    10 years
    Correct!
    Wrong!

    That is correct!

    No college is REQUIRED to sell Real Estate, however there are college courses that can be taken to assist with the pre-licensing process.

  5. What was the average length of time that a home in Bakersfield was on the market in July of 2017?
    Correct
    Incorrect
    365 days
    Correct
    Incorrect
    93 days
    Correct
    Incorrect
    4 days
    Correct
    Incorrect
    37 days
    Correct!
    Wrong!

    That is correct

    The average days on market in July 2017 was 37 days.

  6. Can family or friends give you money to purchase a home?
    Correct
    Incorrect
    Yes
    Correct
    Incorrect
    No
    Correct!
    Wrong!

    That is correct

    FHA loans allow gift funds.

  7. As- Is is a valid type of sale?
    Correct
    Incorrect
    True
    Correct
    Incorrect
    False
    Correct!
    Wrong!

    That is correct!

    As-Is is not a type of real estate sale, it is a condition of a sale

  8. What is the average number of sales each month in Bakersfield?
    Correct
    Incorrect
    239
    Correct
    Incorrect
    439
    Correct
    Incorrect
    539
    Correct
    Incorrect
    339
    Correct!
    Wrong!

    That is correct!

    The average number of sales each month in Bakersfield is 539.

  9. What is the average income of a real estate agent in CA?
    Correct
    Incorrect
    $52,730
    Correct
    Incorrect
    $49,658
    Correct
    Incorrect
    $67,219
    Correct
    Incorrect
    $30,861
    Correct!
    Wrong!

    The average income of a real estate agent in CA IS $52,730

  10. On average when is the best time to sell your home in CA?
    Correct
    Incorrect
    Summer
    Correct
    Incorrect
    Fall
    Correct
    Incorrect
    Winter
    Correct
    Incorrect
    Spring
    Correct!
    Wrong!

    That is correct.

    California homes listed in the spring tend to sell faster.

  11. When buying or selling a home in Bakersfield, who should you contact for all of your real estate needs?
    Correct
    Incorrect
    Jared Cope
    Correct
    Incorrect
    The Cope Real Estate Team
    Correct
    Incorrect
    (661) 871-2673
    Correct
    Incorrect
    All of the above
    Correct!
    Wrong!

    That is correct!

    When looking to buy or sell a home, look no further than Jared Cope and The Cope Real Estate Team! at (661) 871-2673

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