Aceable stuvia - Study guides, Class notes & Summaries

Reasons for a BPO. 1. The people in the home have asked to refinance the home and the lender does not want to pay for a full appraisal, but they do want to have some assurance that the home is valued at or above what the loan will be. 2. The people in the house are about to be foreclosed on and the lender wants an inexpensive estimate of value. Approaches to value - ANSWER-Cost to replace: a method of estimating the value of a property by determining how much it would cost to replace the bu...

Aceable All Questions and Verified Answers(RATED A Can a visitor with a driver license from Chile legally drive here? - ANSWER Yes, as long as Chile and Texas recognize each other's licenses. Stella's sister is visiting Texas while her husband is at a military outpost. Can she legally drive? - ANSWER She can drive with a valid out-of-state license. Stella's sister will need to stay in Texas for 4 months. Can she legally drive with an out-of-state license for 4 months? - ANSWER No. She ...

Aceable Complete Questions and Answers(Latewhat kind of driver am i - ANSWER novice what is the purpose of a pop up question - ANSWER to help you prepare for assessments and track ur mastery of topics open-ended questions - ANSWER where you can write your own responses and compare your answers to others' answers. sorting game - ANSWER called Facts of a Feather. Past students have said it made them feel more prepared for the final exam. fill-in-the-blank questions - ANSWER Almost al...

Aceable Questions and Solutions(Latest UpWhat percentage of car accidents involve drunk driving? - ANSWER 32 percent Who can sign an application for a learner's permit? - ANSWER an employer or county judge Who has to pass an approved driver education course in order to obtain a driver license? - ANSWER any individual under the age of 25 Which documents can you bring with you to the DPS office if you don't have a Texas ID? - ANSWER an original or certified birth certificate, school rec...

Real Estate Settlement Procedures Act (RESPA) - ANSWERSto protect consumers from abusive lending practices. General data - ANSWERSis information about a property's location. This could include the city, region, and neighborhood in which the property is situated. The appraisal report is usually paid by - ANSWERSthe buyer Specific data - ANSWERSinformation regarding the property itself. What types of data do Appraisers use? - ANSWERSBOTH Specific Data and General Data The appraiser...

A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction B) To pay commission that agents were wrongfully deprived of C) For taxes for the state of Texas D) For TREC to recover the funds to keep their computer systems up to date -ANSWER- A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction Wesley just bought a house with a creek that flows along the south boundary. He wants...

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C. client - ANSWERSA real estate agent works exclusively with buyers. They have chosen a specialization that focuses on the: A. geographical area B. commission split C. client D. property type C. sales prices are more negotiable for buyers - ANSWERSWhich of the following describes a buyers market? A. It's likely a seller can easily sell a home for more than the listing price B. Sellers are less likely to have to pay for closing costs C. Sales prices are more negotiable for buyers D...

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PRINCIPAL - ANSWER-What is the term that describes the money that is lent? CASH TO CLOSE - ANSWER-Down payment minus earnest money? TOTAL SALES PRICE - ANSWER-Loan payment + loan principal? ORIGINATION POINTS - ANSWER-Loan points/fees charged 1% to compensate loan officers for underwriting and administering the loan. DISCOUNT POINTS - ANSWER-Loan points/fees charged 1% in exchange for a lower interest rate on the loan. DAY OF CLOSING - ANSWER-When is the seller responsible for pro...