Escrow & Title
In North Dakota, a 'buyer's market' affects closings because:
ABuyers always receive a discount at closing in buyer's markets
BIn a buyer's market, sellers may offer more seller concessions toward closing costs to attract buyers✓ Correct
CTitle companies charge less in buyer's markets
DBuyers cannot negotiate closing costs in any market
Explanation
In a buyer's market (more supply than demand), sellers often offer concessions such as paying some or all of the buyer's closing costs to make the property more attractive. This is a negotiating point in the purchase agreement that affects the net proceeds to the seller.
Related North Dakota Escrow & Title Questions
- A special warranty deed provides that the grantor:
- In North Dakota, a buyer who discovers a title defect after closing can make a claim on their:
- Title insurance protects against:
- In North Dakota, which lien takes priority over all other liens, including mortgages, regardless of recording date?
- In North Dakota, the document that provides a written history of all recorded transactions affecting a parcel of land is called a(n):
- An 'abstract of title' in North Dakota is:
- A quitclaim deed:
- In North Dakota, a 'deed restriction' (restrictive covenant) in a deed:
Practice More North Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Dakota Quiz →