Mary is buying a home for the first time.She has $200 000.00 in her bank account and has been pre-approved for a $100 000.00 mortgage.Mary now finds a house priced at $300 000.00 and based on her calculation of the money in her account and the pre-approved mortgage,she enters into an agreement of purchase and sale for it with its owner.In this case,
A) Mary's calculation is not correct,and she will probably not have enough money to close the transaction.
B) Mary's calculation is correct,and she will probably have enough money to close the transaction.
C) Mary's calculation is correct,and she will definitely have enough to close the transaction.
D) Mary's calculation is correct,and she will probably have enough money to close the transaction
E) none of the above
Correct Answer:
Verified
Q5: Use the fact situation in Q1 to
Q5: Which of the following is NOT a
Q6: Use the fact situation in Q1 to
Q7: On receipt of an agreement of purchase
Q8: Use the fact situation in Q1 to
Q9: Use the fact situation in Q1 to
Q11: Use the fact situation in Q1 to
Q12: Use the fact situation in Q1 to
Q13: An order by a court that ends
Q19: A lender who accepts an interest in
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