Alabama Real Estate Practice Exam

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Master your Alabama real estate exam with our comprehensive practice test. Tailored feedback, expert tips, and up-to-date questions to ensure your success!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Who is entitled to see the closing costs one day before the closing in the context of FHA-insured loans?

The loan officer only
The buyer only
Both the buyer and the seller
The real estate agents only

The correct answer is: Both the buyer and the seller

Both the buyer and the seller are entitled to see the closing costs one day before the closing in the context of FHA-insured loans. This is because both parties have a vested interest in the transaction and should be fully informed about any closing costs they are responsible for. Option A is incorrect because the loan officer is not the one who is responsible for paying the closing costs. Option B is also incorrect because although the buyer is responsible for paying some closing costs, they are not the only one entitled to see them. Option D is incorrect because while a real estate agent may be involved in the transaction, they do not have a direct financial stake in it and therefore are not entitled to see the closing costs.