Barney fletcher exam 4 - Study guides, Class notes & Summaries

Barney Fletcher Section 1 Exam with Complete Solutions Bundle of Rights - Ans ️️ the legal rights that accompany real property ownership. Real Estate or Real Property - Ans ️️ Land, improvements, & legal rights of ownership Appurtenance - Ans ️️ rights, privileges or improvements that belong to and pass with the transfer of property. Attaches to land, not owner Surface Rights - Ans ️️ right to control, occupy, and use the surface area of a parcel of real estate (the land...

Barney Fletcher Cram Notes Booklet Deed - answerthe instrument used to transfer real property Title - answerOwnership and the owner's rights Real Estate - answerLand + improvements (appertenances) Physical Characteristics of Land - answer1. Immovable 2. Indestructable 3. Non-Homogenous (unique) Economic Characteristics of Land - answer1) Situs 2) Improvements 3) Fixed Investment 4) Scarcity Personal Property - answeranything that is not real property; Chattel Severance - answerRemov...

In doing a market analysis, you find a recently sold property where the owners had just gone through a divorce. It was listed for $60,000 for 3 months but sold for $40,000. Would you use this as a comparable? A. no, because it had only been listed for 3 months B. no, because of the divorce, it was not an arms length agreement C. yes, you would use the actual sales price of $40,000 D. yes, because it was a comparable type property - ANSWER B. no, because of the divorce, it was not an arms l...

which BEST describes the principle that a home maintains its highest value in a neighborhood with similar homes and similar type housing? A. substitution B. conformity C. highest and best use D. competition - ANSWER B. conformity If you took projected future costs from projected future income, you would arrive at: A. capitalization rate B. projected net income C. projected debt service D. projected debt coverage - ANSWER B. projected net income A deed would be presumed to have ...

Barney Fletcher Cram Notes Booklet Exam Study Guide Solutions deed - ANSWER-the instrument used to transfer real property Title - ANSWER-Ownership and the owner's rights Real Estate - ANSWER-Land + improvements (appertenances) Physical Characteristics of Land - ANSWER-1. Immovable 2. Indestructable 3. Non-Homogenous (unique) Economic Characteristics of Land - ANSWER-1) Situs 2) Improvements 3) Fixed Investment 4) Scarcity Personal Property - ANSWER-anything that is not real property...

which BEST describes the principle that a home maintains its highest value in a neighborhood with similar homes and similar type housing? A. substitution B. conformity C. highest and best use D. competition correct answer: B. conformity If you took projected future costs from projected future income, you would arrive at: A. capitalization rate B. projected net income C. projected debt service D. projected debt coverage correct answer: B. projected net income

Updated: Barney Fletcher Cram Final Exam Practice Questions and Answers A seller wants to list the property with a broker, but wants to avoid paying any commission should the seller be fortunate enough to sell the property. himself. Which of the following should the seller avoid signing? A. an exclusive agency listing B. an exclusive right to sell listing C. an open listing D. all listings - ANSWER-B. an exclusive right to sell listing Mr. Smith listed his farm with broker Bob. Although...

Barney Fletcher Practice Exam 1 Practice Questions and Answers Which would NOT be used in the capitalization approach? A. gross income B. operating expenses C. reproduction cost D. allowance for vacancy - 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 p...

Barney Fletcher Real Estate Exam Study Guide Solutions Assemblage - ANSWER-combining two or more contiguous parcels of real estate into a single parcel under one ownership plottage - ANSWER-an increase in value resulting from assemblage fixture - ANSWER-personal property that is permanently attached to real property and goes with the property when its sold what makes something a fixture - ANSWER-if object was fixed or installed with the intention of improving the home appurtenances - AN...

Barney Fletcher Exam 4 Questions and Answers which BEST describes the principle that a home maintains its highest value in a neighborhood with similar homes and similar type housing? A. substitution B. conformity C. highest and best use D. competition - Answer-B. conformity If you took projected future costs from projected future income, you would arrive at: A. capitalization rate B. projected net income C. projected debt service D. projected debt coverage - Answer-B. projected net income A deed...