And puds - Study guides, Class notes & Summaries

Brokerage The business of bringing people together in Real Estate transaction Broker A person or company licensed to buy, sell, exchange, or lease real property Appraisal Process of developing opinion of a property market value based on established methods and the professional judgment Property Manger Person or Company hired to maintain and manage property on behalf of the property owner Home Inspection A profession that combines a practitioners interest in real estate with skills and traini...

WRA Pre Exam Review Questions And Answers (Verified And Updated) What rights to property come with ownership? - answerControl; Disposition; Quiet enjoyment; Encumber; Exclude; Possession. What form of ownership allows title to a deceased spouse's property to pass to the surviving spouse without probate? - answerSurvivorship marital property. A special form of joint tenancy with right of survivorship. Just for married people. What are some examples of encumbrances? - answerEasement; Liens...

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Appraiser must perform by being: (4) Impartial or neutral, objective or fair minded, independent or autonomous, free of self interest Uncompetent Steps Inform the client about the identified issues before accepting assignment, complete steps to understand issues, disclose what actions were taken to gain the knowledge Land immobile, unique, finite supply, solid surface on earth, distinguished from water Suprasurface Rights right to undisturbed use and control of designate...

Florida Real Estate License Exam Study Guide Solutions client specialization - ANSWER-working exclusively with buyers or sellers property type specialization - ANSWER-residential, commercial, agricultural, etc type of transaction specialization - ANSWER-sales agent, leasing agent, short sales buyer or seller, REO specialist, property manager, etc geographical area specialization - ANSWER-a neighborhood specialist, for example type of relationship specialization - ANSWER-a fee based consul...

Net worth - answer-Assets (own) - Liabilities (owe) = Net Worth Personal finance plan - answer-Reasons to develop a __________: - Achieve your financial goals - Achieve financial independence - Invest intelligently - Minimize your payments to Uncle Sam - Cover your assets The Personal Financial Planning Process - answer-Step 1: Awareness and Setting Financial Goals Step 2: Creating and Activating Plans Step 3: Evaluating and Revising Plans: Moving forward Step 1: Awareness ...

URAR is the acronym for: 1. Uniform Residential Appraisal Report 2. Uniform Real Estate Appraisal Report 3. Universal Residential Appraisal Report - ANSWER-Correct answer is: 1 Uniform Residential Appraisal Report PR is the generally accepted acronym for: 1. Premium Title Report 2. Present Time Reclamation Association 3. Preliminary Title Report 4. Preliminary Tax Report - ANSWER-Correct answer is: 3 Preliminary Title Report PMI is the acronym for : 1. Preliminary Mortgage Invest...

What rights to property come with ownership? - Control; Disposition; Quiet enjoyment; Encumber; Exclude; Possession. What form of ownership allows title to a deceased spouse's property to pass to the surviving spouse without probate? - Survivorship marital property. A special form of joint tenancy with right of survivorship. Just for married people. What are some examples of encumbrances? - Easement; Liens; Encroachments; Property taxes and Special assessments. What type of interest is...

Appraisal Institute Basic Appraisal Principles Appraisal (ch.1) - ANS the act or process of developing an opinion of value What types of assignments use appraisals? (ch.1) - ANS Transfer of ownership Financing and credit Litigation Tax matters Investment Decisions The valuation process (ch.1) - ANS a systematic procedure that an appraiser employs to provide the answer to a client's question about the value of real property Steps of the Valuation Process (ch.1)...

Appraisal Institute Basic Appraisal Principles Appraisal (ch.1) - ANS the act or process of developing an opinion of value What types of assignments use appraisals? (ch.1) - ANS Transfer of ownership Financing and credit Litigation Tax matters Investment Decisions The valuation process (ch.1) - ANS a systematic procedure that an appraiser employs to provide the answer to a client's question about the value of real property Steps of the Valuation Proce...