External obsolescence - Study guides, Class notes & Summaries

If an older building cannot be air-conditioned, it is an example of ___________ ? A. Economic obsolescence. B. Functional obsolescence. C. Physical deterioration. D. External deterioration - B. Functional obsolescence. An appraiser MUST be licensed or certified to handle Federally related work on residential property valued at more than ___________? A. $100,000. B. $250,000. C. $500,000. D. $1,000,000. - B. $250,000. The main difference between tenancy in common and joint tenancy is t...

Texas Principles of Real Estate II Final Exam | Questions and Verified Answers | Grade A | 2024 / 2025 Update Q: a lease for one year or less Answer: the only contract that does not have to be in writing to be enforceable Q: Attorney in Fact Answer: a person holding a power of attorney Q: substitution of a contract with another contract ie. counteroffer Answer: Novation Q: when one party fails to perform the duties of the contract-they can be asked by judge to partially perform or substatially p...

Barney Fletcher Practice Exam 2024 Which would NOT be used in the capitalization approach? A. gross income B. operating expenses C. reproduction cost D. allowance for vacancy -Correct Answer-C. reproduction cost A property had a land value of $40,000, a 2,000 square feet structure with a rebuilding cost of $70 per square foot, depreciation of $5,000 due to functional obsolescence and $1,500 due to physical depreciation. What would be the estimate of value for this property using the co...

If an older building cannot be air-conditioned, it is an example of ___________ ? A. Economic obsolescence. B. Functional obsolescence. C. Physical deterioration. D. External deterioration - Answer-B. Functional obsolescence. An appraiser MUST be licensed or certified to handle Federally related work on residential property valued at more than ___________? A. $100,000. B. $250,000. C. $500,000. D. $1,000,000. - Answer-B. $250,000. The main difference between tenancy in common and join...

PSI Maryland Practice Exam Questions & Answers 2023/2024 If an older building cannot be air-conditioned, it is an example of ___________ ? A. Economic obsolescence. B. Functional obsolescence. C. Physical deterioration. D. External deterioration - ANSWER-B. Functional obsolescence. An appraiser MUST be licensed or certified to handle Federally related work on residential property valued at more than ___________? A. $100,000. B. $250,000. C. $500,000. D. $1,000,000. - ANSWER-B...

A delinquent tax incurs a penalty of... a. 20% for the first calendar month it is delinquent, plus 1% for each additional month until it is paid b. 6% for the first calendar month it is delinquent, plus 1% for each additional month or portion of a month it remains unpaid c. 5% for the first calendar month it is delinquent, plus 2% for each additional month or portion of a month it remains unpaid d. 10% for the first calendar month it is delinquent, plus 2% for each additional month or port...

PSI Salesperson Real Estate Exam (2023/ 2024 Update) 100% Correct| Questions and Verified Answers| Grade A Q: Your neighbor has given you revocable permission to go hunting on his farm. You have a(n) Answer: 3. license. Q: A claim based on adverse possession of property must NOT be Answer: 4. secretive. Q: A man gives his friend the right to go hunting on his property for just one day. This is an example of Answer: 1. a license. Q: A person who receives ...

11.31 pollution control exemption - person is entitled to exemption from taxation in whole or part for a facility or device that is used for the control of air, land or water pollution Ineligible for this exemption: property used to manufacture the devices, property used for residential or recreational purpose Must file permit application/exemption with the TCEQ (Texas Commission on Environmental Quality). Deadline is January 31 23.23(a) sets a limit on the appraised value of a residence h...

Principles of Real Estate 2 Exam With 100% Correct Answers 2024 What helps overcome the difficulties of objectively estimating the value of properties? - answerAppraisals The approach used as the best indicator of value for existing properties - answerSales Comparison Refers to the loss in desirability of the style, layout, or function of an element of a property over time - answerFunctional obsolescence The price a willing seller will sell for, and the price a willing buyer will pay - a...

Colibri Practice Test/ 140+ Questions with Definitive Solutions. Terms like: Economic or external obsolescence is a loss of value outside of the perimeter boundary of the property, beyond the owner's control, and almost always incurable. A homestead exemption in Florida is available to those who qualify and file documents making the Florida home a primary residence. The base homestead exemption is-Answer $25,000 The base homestead exemption is $25,000. There is an additional $25,000 ...