Alabama Real Estate Practice Exam

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What costs does the buyer produce at closing?

Unpaid liens and commission to the broker

Mortgage prepayment penalties and survey fee

Loan origination fee, title search, and more

Option A is incorrect because unpaid liens and commissions are costs incurred by the seller, not the buyer, at closing.

Option B is incorrect because mortgage prepayment penalties and survey fees are costs specifically related to a mortgage and not incurred by every buyer at closing.

Option D is incorrect because transfer fees and unpaid mortgage balances may not apply to every buyer and are dependent on multiple factors such as location and type of property.

Option C is the most comprehensive and inclusive answer as it lists common costs that are typically incurred by the buyer at closing.

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Transfer fee and unpaid balance on the mortgage

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