UGA REAL 4000 Singh Test 3 | Latest Update | 2024/2025 | 100% Verified
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Course
UGA REAL 4000 Singh
Institution
UGA REAL 4000 Singh
UGA REAL 4000 Singh Test 3 | Latest
Update | 2024/2025 | 100% Verified
What is rent control?
Rent control is a regulation that limits the amount a landlord can charge for renting out a
property.
What is a property disclosure statement?
A property disclosure statement is a document pro...
UGA REAL 4000 Singh Test 3 | Latest
Update | 2024/2025 | 100% Verified
What is rent control?
✔✔ Rent control is a regulation that limits the amount a landlord can charge for renting out a
property.
What is a property disclosure statement?
✔✔ A property disclosure statement is a document provided by the seller that outlines known
issues or defects with the property.
What is the fair market value of a property?
✔✔ Fair market value is the price at which a property would sell under normal market
conditions.
What is a real estate appraisal report?
✔✔ A real estate appraisal report is a detailed document prepared by an appraiser that assesses
the value of a property.
1
,What does mortgage pre-approval involve?
✔✔ Mortgage pre-approval involves a lender reviewing a buyer's financial information to
determine how much they can borrow before making an offer on a property.
What is principal balance in a mortgage?
✔✔ Principal balance is the amount of the loan that remains unpaid, excluding interest.
What does seller financing mean?
✔✔ Seller financing occurs when the seller of a property provides a loan to the buyer to cover
part or all of the purchase price.
What is an adjustable-rate mortgage?
✔✔ An adjustable-rate mortgage is a loan where the interest rate changes periodically based on
market conditions.
What is a closing cost?
✔✔ Closing costs are expenses incurred during the finalization of a real estate transaction,
including fees for services and taxes.
2
, What is a real estate investor?
✔✔ A real estate investor is an individual or entity that purchases property to generate income or
profit.
What is the purpose of a title search?
✔✔ A title search verifies the legal ownership and checks for any claims or liens against a
property.
What does real estate brokerage refer to?
✔✔ Real estate brokerage refers to a business that facilitates real estate transactions by
connecting buyers and sellers.
What is equity in real estate?
✔✔ Equity is the difference between the market value of a property and the outstanding balance
on any mortgages.
What is a deed of trust?
✔✔ A deed of trust is a legal document that secures a loan by transferring property title to a
trustee until the loan is repaid.
3
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