Aceable Agent Texas Real Estate Principles I Exam Study Guide with Complete Solutions
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Course
2024/2025
Institution
2024/2025
Aceable Agent Texas Real Estate
Principles I Exam Study Guide with
Complete Solutions
Broker's Price Opinion (BPO) - Answer-A broker's price opinion is the process used by a
hired sales agent to determine the potential selling price or estimated value of a real estate
property
Closing - Answe...
Seller's Disclosure Notice - Answer✔✔-A document filled out by the seller concerning any
defects in the improvements on the property
Subagent - Answer✔✔-A license holder from one office who represents the seller through
cooperation with the listing broker of another company
Material Fact - Answer✔✔-Any fact that is significant or essential to the transaction
Principle - Answer✔✔-the individual who authorizes another person to act on their behalf
Intermediary Relationships - Answer✔✔-occur when the same real estate office is representing
both the seller and the buyer as clients in the same transaction
Third Party - Answer✔✔-the individual with whom the agent and principal enter into real estate
negotiations. The third party is also sometimes referred to as the customer
Agency Relationship Disclosure - Answer✔✔-Agency relationships should be disclosed at first
contact
Community Reinvestment Act - Answer✔✔-Helps commercial banks and savings associations
meet the needs of borrowers in all segments of their communities, including low- and
moderate-income neighborhoods
Redlining - Answer✔✔-The illegal act of a lender denying mortgages in certain areas of town
Home Mortgage Disclosure - Answer✔✔-Federal act that requires lenders to disclose specific
lending information, which HUD then uses to map lending patterns
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