Exam (elaborations)
REE5305 CH 16 (1).
Exam of 1 pages for the course REE 5305 at REE 5305 (REE5305 CH 16 (1).)
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REE5305 CH 16Permanent loans generally provide the money to pay off the construction loan in
segments as the work progresses. - ANS-False
Permanent financing commitments usually allow the lender to approve major leases. -
ANS-True
Generally, as the cost of a site increases, so do the quality and the density of the
improvements constructed on it. - ANS-True
A standby commitment differs from a permanent take-out commitment in that neither
party really expects the standby commitment to be used by the developer. - ANS-True
A permanent take-out commitment is: - ANS-an agreement by a lender to provide
permanent financing for a property once construction is complete, provided all of the
contingencies have been met.
Which of the following is one reason that construction lenders typically prefer the cost
approach to valuation over the income approach? - ANS-The cost approach provides a
more conservative estimate of value.
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