Realestateu Texas Principles Of Real Estate Part 1 Exam With 100% Correct And Verified Answers
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RealEstateU - Texas Principles of Real Estate
Institution
RealEstateU - Texas Principles Of Real Estate
Realestateu Texas Principles Of Real Estate Part 1 Exam With 100% Correct And Verified Answers
Salesperson's Sponsoring Broker - Correct Answer-a real estate salesperson closes on a transaction, who pays the salespersons commission?
General Agent - Correct Answer-An agent with full authority ov...
Realestateu Texas Principles Of Real
Estate Part 1 Exam With 100% Correct
And Verified Answers
Salesperson's Sponsoring Broker - Correct Answer-a real estate
salesperson closes on a transaction, who pays the salespersons
commission?
General Agent - Correct Answer-An agent with full authority over
one property of the principle. EX: Property Manager.
Supply - Correct Answer-Te amount of goods offered for sale within
a given market at a given price during a given period.
Specific Agent - Correct Answer-Agent with limited authority to act
on behalf of the principal, such as a listing. EX real estate agent.
Market Comparison Approach - Correct Answer-A means of
comparing similar type properties, which have recently sold, to the
subject property. Commonly used in comparing residential
properties.
General Uses of Real Property - Correct Answer-1. Residential,
Commercial, & Industrial.
Principal - Correct Answer-The employer of an agent; one of the
main parties in a real estate transaction, such as a buyer, borrower,
seller, or lessor.
Commercial Property - Correct Answer-Properties with 5 or more
dwelling units. Property that produces rental income or that is used
in business
, Personal Property - Correct Answer-All property that isn't land &
not permanently attached to land. (MOVABLE)
Which of the following is considered a legal test for determining if
an item is a fixture or not...? - Correct Answer-Intention of the
parties, adaption of the item, & Mode and permanence of how the
item was attached
The transfer of personal property is typically done using a...? -
Correct Answer-Bill of Sale
Mineral rights are typically considered dominant to which of the
following rights...? - Correct Answer-Surface rights
Mobile homes not permanently attached to the land are generally
considered...? - Correct Answer-Personal Property
Which of the following is an advantage to owning a home...? -
Correct Answer-Tax benefits
Pride of ownership
Potential for asset appreciation
Which of the following is NOT a form of real property...? - Correct
Answer-Cooperative
Owners of a cooperative apartment hold which of the following...? -
Correct Answer-Proprietary lease
An individual who has not owned real property for at least the
previous two years is known as a...? - Correct Answer-First-time
homebuyer
An insurance policy protecting against a variety of hazards is
referred to as a...? - Correct Answer-Homeowners Policy
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