Question

Which financial transaction is associated with the home rental process?

Answer 1

If your answer choices are:

A.) down payment

B.) closing fee

C.) deposit

D.) taxes, tags, and title fees

Than the correct answer is;

C.) Deposit

Answer 2

Answer:

Security deposit is an amount of money which is deposited as a initial payment in the purchasing or buying process.

i. Security deposit acts as a proof to the lender.

ii. This security deposit may be refundable or it may not be refundable depending upon the conditions applied during the deposit which was done.

iii. For the proof of the deposit the written agreement can be considered.

iv. The deposit may depend upon the landlord or it may be equal to one month's rent.