Principles of Real Estate 1 questions with 100% Correct Answers
5 views 0 purchase
Course
Texas Principles of Real Estate 1
Institution
Texas Principles Of Real Estate 1
% x list price= - Sales price
% x market value= - Assessed value
% x original cost= - Profit
% x total area= - Usable area
% x total= - Part
1 acre= how many sq ft? - 43,560 sq. ft
100% - commission rate x sales price= - Seller's net
100% - depreciation % x original cost= - Depreciated value...
Principles of Real Estate 1
% x list price= - ✔✔Sales price
% x market value= - ✔✔Assessed value
% x original cost= - ✔✔Profit
% x total area= - ✔✔Usable area
% x total= - ✔✔Part
1 acre= how many sq ft? - ✔✔43,560 sq. ft
100% - commission rate x sales price= - ✔✔Seller's net
100% - depreciation % x original cost= - ✔✔Depreciated value
100% + appreciation % x original cost= - ✔✔Appreciated value
A complete history of the title of a piece of property is called an - ✔✔abstract
A contract that can be canceled by one of the parties is called - ✔✔voidable
A contract that meets all of the requirements of the law is called - ✔✔valid
A handwritten will is called a - ✔✔holographic will
A lease with a specific starting and ending date is called - ✔✔an estate for years or tenancy for years.
, A loan that covers two or more pieces of property on one note is called - ✔✔a blanket loan
A mortgage becomes a lien when it is - ✔✔recorded
A property description that is considered an informal reference is - ✔✔a street address.
An easement can be terminated by - ✔✔merger
capitalization rate x market value= - ✔✔Net income
commission rate x sales price= - ✔✔Commission
Contracts that are signed and carried out are called - ✔✔executed
Deeds require the signature of - ✔✔the grantor
Higher value properties cause an increase in the value of the subject property is called - ✔✔Progression
How long does a consumer have to file a complaint with TREC against a licensee? - ✔✔Four years
If the licensee pays a commission to any unlicensed person, places a sign offering a property without the
written permission of the owner, sells real estate by lottery this can happen.... - ✔✔A license can be
revoked or suspended by the TREC
If the parties of a contract agree to terminate the contract, it is called - ✔✔mutual rescission
If you believe you are a victim of discrimination under the Federal Fair Housing laws, how long do you
have to file a complaint? - ✔✔1year
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller martinndungu1986. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
