Principles of real esta - Study guides, Class notes & Summaries

appraisal - Answer- value of a property maybe affected by social, economic, govt and environmental influences Loan-to-Value Ratio (LTV) - Answer- The percentage of value or sales price that a lender is willing to finance. limited appraisal report - Answer- exterior only/drive by inspection. deemed as low risk loan highest and best use of property - Answer- legal use that gives the greatest return Principal of Contribution - Answer- cost does not equal value Residential Mortgage Lo...

Functional obsolescence - Answer- Refers to the loss in desirability of the style, layout or function of an element of a property over time Sales comparison - Answer- best indicator of value for existing properties highest and best use - Answer- the legal use for property that gives the greatest return in money and/or amenities external obsolescence - Answer- the loss in value of a property caused by factors outside the property itself principle of contribution - Answer- suggests the...

Written documents affecting a title to real estate are recorded: A. where the titleholder resides B. where the titleholder has legal residence C. at the county clerk's office where the property is located D. at any county clerk's office in Texas (Ans - C. at the county clerk's office where the property is located A person appointed by a court to settle the estate of a deceased person when the executor cannot perform or refuses to perform is: A. another executor B. a legatee C. an administrato...

Texas Principles Of Real Estate II Final Exam: Questions & Answers: Latest Updated :Complete Version Written documents affecting a title to real estate are recorded: A. where the titleholder resides B. where the titleholder has legal residence C. at the county clerk's office where the property is located D. at any county clerk's office in Texas -answer- C. at the county clerk's office where the property is located A person appointed by a court to settle the estate of a deceased pe...

Lenders require a borrower to establish and maintain a reserve fund to ______. - answer- Pay any property taxes in case the borrower misses a payment Brandon recently purchased an old warehouse building. This building will serve as a hub for local deliveries of fruits and vegetables within the state. During its first week in operation, one of the delivery drivers was involved in an accident that spilled coconuts all over the road and shut down the interstate for hours. What type of risk is th...

Principles of Real Estate 1 Final Exam With Complete Solution...

Champions real estate principles of real estate 1 in 2022 latest updatebrokerage - correct answer A business that pertains to overseeing the needs of the parties and completing a transaction they may or may not involve agency relationships Real Estate Development - correct answer Involves the acquisition of land for development into residential subdivisions, retail centers and other commercial uses. immobility - correct answer It's a physical characteristic of land that cannot be moved ...

Texas Principles of Real Estate II (2024 / 2025) Exam | Questions and Verified Answers | 100% Correct Q: According to value a. Police power b. Ad valorem c. Taxation d. Escheat e. Condemnation Answer: B Q: The government retains the following rights in lands, EXCEPT: a. Eminent domain b. Allodial c. Police Power d. Taxation Answer: B Q: If a landowner sues the government in order to force it to buy his or her land, this is called: a. Reverse condemnation b. Forward condemnation c. Inverse condem...

Texas Principles of Real Estate 1 Final Exam | Questions and Verified Answers | Grade A | 2024 / 2025 Update Q: An insurance policy protecting against a variety of hazards is referred to as a...? Homestead Policy Individual Policy Homeowners Policy Package Policy Answer: Homeowners Policy Q: Which of the following is an advantage to owning a home...? Tax benefits Pride of ownership Potential for asset appreciation All of the above Answer: All of the Above Q: An individual is exempt from paying t...

Texas Principles of Real Estate 1 (2024 / 2025) Exam | Questions and Verified Answers | Grade A Q: Under subchapter E of TRELA the commission has a responsibility to make information available about the commission and its duties in the interest in: Answer: The general public Q: In a real estate transactions who may a licensee represent? Answer: A client Q: What type of real estate market occurs when both supply and demand are low? Answer: Stagnant Market Q: Assume you are a licensee in Texas who...