| Recap | Apartments | Leases | Buying a house | Random |
|---|---|---|---|---|
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Social Security Disability Insurance
What does SSDI stand for?
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Tenant: the person renting the space
Landlord: person that owns the space and rents it out
What is the difference between tenant and landlord?
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Rushing through reading the lease and not allowing time for renters to ask questions.
A common mistake landlords make when signing a lease...
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A loan (borrowed $) used to buy a home with a set of repayments.
What is a mortgage?
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True
True or False
The moon can have "moonquakes" |
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Social security Income
What does SSI stand for?
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Store brand, resale store, garage sale, donation from friend/family
Name 3 cheap recourses to furnish a room?
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1 year
How long is a typical lease term?
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Start researching early, determine what you can afford based on your lifestyle, getting pre-qualified and pre-approved for mortgage
What are some of the first steps in buying a house?
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21 million gallons
How many gallons of ice cream is consumed by Wisconsinites each year?
|
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A formal request for coverage of loss/damage
(Asking your insurance company to help you pay for an incident)
What is a an insurance claim?
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This money is kept and used for any damages or repairs when you move out
Why do we have to give a security deposit to the landlord?
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Document all pre-existing damages so that you are not held responsible for them when you move out.
What is important to document when you sign the lease and enter your apartment? Why?
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To get prequalified, you provide some financial information to your mortgage banker. Your lender will review this information and tell you how much they can lend you. This tells you your price range of homes.
What does it mean to get pre-qualified for a mortgage?
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454 one dollar bills
How many dollar bills equal 1 pound?
|
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Fixed- Rent
Variable- Gas, water bill, groceries Irregular- doctor visits, emergencies
What are examples of fixed, variable and irregular expenses
|
Name 3 deal-breakers you would share with a potential roommate?
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True
True or False
A lease is a legally binding contract. |
Getting a real estate agent, shopping for homes, making an offer, getting a home inspection, selecting your loan, have the home appraised, complete paperwork, closing!
What are the ending steps of buying a home?
|
Chocolate/coco beans
Aztecs used _______ as currency.
|
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Credit score, down payment, loan term (time), pay frequency, employment type, income,
What factors are included in determining interest for a mortgage?
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Neighborhood, cleanliness, smell, flooring, walls, faucets, light switches, doors, locks, neighbors, appliances, # of outlets, closet sizes, toilet, etc.
Name 10 things you should check in person when you are touring an apartment
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Tenant and landlord's full names, the term dates, security deposit info, rent, late fees, utilities, pet fees, rules and policies, tenant/landlord's responsibilities, etc.
Name 6 things that may be included in a lease
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A third party company estimating the value of the house.
What does it mean to have your home appraised?
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You turn on 1 light for a couple minutes and then turn the one off and switch another one on and run downstairs the one that's on is the switch that you turned on, the hottest one was the first one and the final switch goes to the final bulb.
There is a 2 story house with 3 light switches and 3 lights. Each switch on the second floor operates 1 light in the basement. Making just one trip to the basement can you determine which switch operates which light?
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