Aceable principles Study guides, Class notes & Summaries

BPO - broker's price opinion. process used by a hired sales agent to determine the potential selling price or estimated value of a real estate property. 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 ...

Principles 1 Aceable Practice Tests

Principles 1 Aceable Practice Tests – Q’s And A’s

ACEABLE PRINCIPLES II EXAM– Qs & As

Real Estate Settlement Procedures Act (RESPA) - to protect consumers from abusive lending practices. General data - is 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 - the buyer Specific data - information regarding the property itself. What types of data do Appraisers use? - BOTH Specific Data and General Data The appraiser that will complete the appraisal r...

What is the money in the Recovery Trust Account used for? 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 - 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...

Aceable Agent: Real Estate Principles: Review Questions And Answers

What is the money in the Recovery Trust Account used for? 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 - 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...