REAL 4000 UGA Test 1 | Latest Update | 2024/2025 | Graded A+
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Module
REAL 4000 UGA
Institution
REAL 4000 UGA
REAL 4000 UGA Test 1 | Latest Update |
2024/2025 | Graded A+
What is the definition of real estate?
Real estate refers to land and anything permanently attached to it, including buildings and
improvements.
What is the role of a real estate agent?
A real estate agent assists clients ...
REAL 4000 UGA Test 1 | Latest Update |
2024/2025 | Graded A+
What is the definition of real estate?
✔✔ Real estate refers to land and anything permanently attached to it, including buildings and
improvements.
What is the role of a real estate agent?
✔✔ A real estate agent assists clients in buying, selling, and renting properties.
What does market value mean in real estate?
✔✔ Market value is the estimated amount for which a property should sell on the open market.
What is a mortgage?
✔✔ A mortgage is a loan specifically for purchasing real estate, where the property itself serves
as collateral.
What is the purpose of a title search?
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,✔✔ The purpose of a title search is to verify the legal ownership of a property and identify any
claims or liens against it.
What is appraisal in real estate?
✔✔ An appraisal is an assessment of a property's value conducted by a professional appraiser.
What does equity refer to in real estate?
✔✔ Equity refers to the difference between the market value of a property and the amount owed
on any mortgages or liens against it.
What is a deed?
✔✔ A deed is a legal document that transfers ownership of property from one party to another.
What does escrow mean in real estate transactions?
✔✔ Escrow refers to a financial arrangement where a third party holds funds or documents until
specific conditions are met.
What is a home inspection?
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, ✔✔ A home inspection is a thorough examination of a property's condition, typically conducted
before the purchase is finalized.
What is zoning?
✔✔ Zoning refers to the regulation of land use by local governments, determining how
properties in specific areas can be used.
What is the purpose of a real estate disclosure?
✔✔ A real estate disclosure provides information about the condition of a property and any
known issues to potential buyers.
What is closing in a real estate transaction?
✔✔ Closing is the final step in a real estate transaction where ownership is transferred from the
seller to the buyer, and all financial transactions are completed.
What is capitalization rate in real estate investing?
✔✔ The capitalization rate, or cap rate, is a measure used to evaluate the profitability of a real
estate investment, calculated by dividing the net operating income by the property’s purchase
price.
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