REAL 4000 UGA TEST 3 QUESTIONS AND ANSWERS | LATEST UPDATE | 2024/2025 | GRADED A+
4 views 0 purchase
Course
REAL 4000 UGA
Institution
REAL 4000 UGA
REAL 4000 UGA TEST 3 QUESTIONS
AND ANSWERS | LATEST UPDATE |
2024/2025 | GRADED A+
What is a contingent offer in real estate?
A contingent offer is an offer to purchase a property that is dependent on certain conditions
being met, such as securing financing or passing an inspection.
Wh...
REAL 4000 UGA TEST 3 QUESTIONS
AND ANSWERS | LATEST UPDATE |
2024/2025 | GRADED A+
What is a contingent offer in real estate?
✔✔ A contingent offer is an offer to purchase a property that is dependent on certain conditions
being met, such as securing financing or passing an inspection.
What is principal in the context of a mortgage?
✔✔ Principal refers to the original amount of the loan that needs to be repaid, excluding interest.
What is net operating income (NOI)?
✔✔ Net operating income is the total income generated from a property minus operating
expenses, not including mortgage payments or taxes.
What does amortization schedule refer to?
✔✔ An amortization schedule details each loan payment over time, including the amount applied
to principal and interest.
1
,What is a short sale?
✔✔ A short sale occurs when a property is sold for less than the amount owed on the mortgage,
with the lender agreeing to accept the reduced amount.
What is a property lien?
✔✔ A property lien is a legal claim against a property for unpaid debts or obligations, which
must be settled before the property can be sold.
What is rent-to-own arrangement?
✔✔ A rent-to-own arrangement allows tenants to rent a property with the option to purchase it
later, usually with a portion of the rent applied to the purchase price.
What is due diligence in the context of buying real estate?
✔✔ Due diligence involves conducting thorough research and inspections to verify the condition
and legal status of a property before purchase.
What is the purpose of a closing disclosure?
✔✔ A closing disclosure outlines the final terms and costs of a real estate transaction, including
loan details, fees, and the amount required to close.
2
, What is a broker’s license?
✔✔ A broker’s license allows an individual to operate a real estate brokerage and oversee real
estate transactions.
What is real estate syndication?
✔✔ Real estate syndication involves pooling funds from multiple investors to purchase or invest
in larger real estate projects.
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.
What does capital improvement mean?
✔✔ Capital improvement refers to substantial enhancements or upgrades made to a property that
increase its value or extend its useful life.
What is title insurance?
3
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 SterlingScores. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.24. You're not tied to anything after your purchase.
