QuestionMay 26, 2025

Choose the correct statement about closing on the mortgage loan. A. The buyer must choose their own attorney or settlement agent to close the loan. B. The buyer has the option of choosing their own attorney or settlement agent to close the loan. C. The buyer can only use the seller's attorney or settlement agent to close the loan. D. The buyer must choose the attorney or settlement agent recommended by their lender to close the loan.

Choose the correct statement about closing on the mortgage loan. A. The buyer must choose their own attorney or settlement agent to close the loan. B. The buyer has the option of choosing their own attorney or settlement agent to close the loan. C. The buyer can only use the seller's attorney or settlement agent to close the loan. D. The buyer must choose the attorney or settlement agent recommended by their lender to close the loan.
Choose the correct statement about closing on the mortgage loan.
A. The buyer must choose their own attorney or settlement agent to close the
loan.
B. The buyer has the option of choosing their own attorney or settlement
agent to close the loan.
C. The buyer can only use the seller's attorney or settlement agent to close
the loan.
D. The buyer must choose the attorney or settlement agent recommended by
their lender to close the loan.

Solution
3.7(339 votes)

Answer

B. The buyer has the option of choosing their own attorney or settlement agent to close the loan. Explanation 1. Identify the standard practice In most real estate transactions, buyers typically have the option to choose their own attorney or settlement agent for closing. 2. Evaluate each statement A. Incorrect - It implies a requirement rather than an option. B. Correct - It accurately reflects the buyer's option to choose. C. Incorrect - Buyers are not restricted to using the seller's attorney. D. Incorrect - Lenders may recommend, but buyers are not obligated to use them.

Explanation

1. Identify the standard practice<br /> In most real estate transactions, buyers typically have the option to choose their own attorney or settlement agent for closing.<br />2. Evaluate each statement<br /> A. Incorrect - It implies a requirement rather than an option.<br /> B. Correct - It accurately reflects the buyer's option to choose.<br /> C. Incorrect - Buyers are not restricted to using the seller's attorney.<br /> D. Incorrect - Lenders may recommend, but buyers are not obligated to use them.
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