18
QuizMultiple Choice

Other Costs of Buying a Home

Question 18 • 26-27 Ignite Financial Literacy Personal Finance - EL3403

Which of the following refers to the cost associated with getting a statement of the property value when buying a home?

Answer
A
appraisal
B
discount
C
inspection
D
origination

Explanation

An appraisal estimates a property's market value, and the appraisal fee is the cost of obtaining that statement of value when buying a home. An inspection checks the property's condition, while origination refers to fees for processing a mortgage.

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