Chicago Real Estate School: Chapter 13: Real Estate Brokerage Operations & Agreements Question;: Chapter 14: Fair Housing Questions; Chapter 12: Contract Law ;Final Exam ; Chapter 15: Property Management & Leasing
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Brokerage -ANSWER Is the business of bringing people together in a real estate transaction. Property Management -ANSWER Is a person or company hired to maintain a manage property on behalf of its owner. Financing -ANSWER Is the business of providing the funds that make real estate transactions...
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Add to cartBrokerage -ANSWER Is the business of bringing people together in a real estate transaction. Property Management -ANSWER Is a person or company hired to maintain a manage property on behalf of its owner. Financing -ANSWER Is the business of providing the funds that make real estate transactions...
Who does the FHA insure against loss? - ANSWERLenders (insures lenders against buyer default) What are physical characteristics of real estate? - ANSWERIUI Immobility (can't be moved); Indestructibility (land can't be destroyed); Uniqueness (no piece of land is identical to the other); What...
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Add to cartWho does the FHA insure against loss? - ANSWERLenders (insures lenders against buyer default) What are physical characteristics of real estate? - ANSWERIUI Immobility (can't be moved); Indestructibility (land can't be destroyed); Uniqueness (no piece of land is identical to the other); What...
Abandonment -ANSWER Failure to occupy and use property, can result in loss of rights Abstract of Title -ANSWER Chronological summary of recorded docs, affecting title. Acceptance -ANSWER Agreeing to the terms of an offer to enter into a contract, creates binding contract. Acceleration Claus...
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Add to cartAbandonment -ANSWER Failure to occupy and use property, can result in loss of rights Abstract of Title -ANSWER Chronological summary of recorded docs, affecting title. Acceptance -ANSWER Agreeing to the terms of an offer to enter into a contract, creates binding contract. Acceleration Claus...
Three principal responsibilities of a property manager -ANSWER 1. Achieve objectives of the property owners 2. Generate income for the owners 3. Preserve and/or increase the value of the investment property Management Plan -ANSWER Outlines the details of the owner's objectives with the property,...
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Add to cartThree principal responsibilities of a property manager -ANSWER 1. Achieve objectives of the property owners 2. Generate income for the owners 3. Preserve and/or increase the value of the investment property Management Plan -ANSWER Outlines the details of the owner's objectives with the property,...
Contract -ANSWER A voluntary agreement between legally competent parties. A contract must be -ANSWER voluntary an agreement or promise made by legally competent parties supported by lawful consideration for a legal act Express Contract -ANSWER Exists when the parties state the terms and...
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Add to cartContract -ANSWER A voluntary agreement between legally competent parties. A contract must be -ANSWER voluntary an agreement or promise made by legally competent parties supported by lawful consideration for a legal act Express Contract -ANSWER Exists when the parties state the terms and...
Fair Housing Act - ANSWERProhibits discrimination in housing based on: Race Color Religion National Origin Sex Disability Familial Status (kids) Familial Status - ANSWERrefers to the presence of one or more individuals who have not reached the age of 18 and who live with either a parent ...
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Add to cartFair Housing Act - ANSWERProhibits discrimination in housing based on: Race Color Religion National Origin Sex Disability Familial Status (kids) Familial Status - ANSWERrefers to the presence of one or more individuals who have not reached the age of 18 and who live with either a parent ...
Sponsoring Broker -ANSWER Entity holding the company real estate license, whether the entity is an individual who operates as a sole proprietorship, partnership, LLC, corporation or LLP Must be self sponsored. Managing broker -ANSWER A broker who has supervisory responsibilities for licensees in...
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Add to cartSponsoring Broker -ANSWER Entity holding the company real estate license, whether the entity is an individual who operates as a sole proprietorship, partnership, LLC, corporation or LLP Must be self sponsored. Managing broker -ANSWER A broker who has supervisory responsibilities for licensees in...
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