Select the term associated with making housing decisions that corresponds to each of the given descriptions. (Note: These are not necessarily
complete definitions, but there is only one possible answer for each description.)
Description
This is a deposit made to the seller to express the intent of purchase so that the offer is considered
seriously.
This is the general name used to refer to and quantify the fees charged by lenders at the time they
grant a mortgage loan.
This term refers to the transaction costs, including fees and expenses, incurred by the buyer during the
purchase of a property that is over and above the price of the property.
This occurs when the value of the real estate asset is lower than the loan amount due on that asset.
This term describes the process through which an asset, not owned by the seller, is sold at a price
lower than debt balance owed on the property.
Term