External obsolescence - Study guides, Class notes & Summaries

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...

Functional obsolescence - ANSWER Refers to the loss in desirability of the style, layout or function of an element of a property over time Sales comparison - ANSWER best indicator of value for existing properties highest and best use - ANSWER the legal use for property that gives the greatest return in money and/or amenities external obsolescence - ANSWER the loss in value of a property caused by factors outside the property itself principle of contribution - ANSWER suggests the...

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...

PSI Real Estate Salesperson Exam (Latest 2023/ 2024 Update) 100% Correct| Questions and Verified Answers| Already Grade A Q: Strict liability under Superfund means that: Answer: the owner is responsible to the injured party without excuse. Q: Which of the following does NOT correctly describe how real estate licensees should handle the possibility of hazardous substances on property being sold? Answer: Licensees should not disclose the problem because it might harm the sell...

OKLAHOMA REAL ESTATE EXAM PREP LATEST UPDATE GRADED A+ WHAT TYPE OF CONTRACT IS A REAL ESTATE OPTION CONTRACT? UNILATERAL CONTRACT DURING AN APPRAISAL OF A RESIDENTIAL PROPERTY AN APPRAISER ESTIMATES THE COST OF REBUILDING THE SUBJECT PROPERTY SO THAT IT IS IDENTICAL TO ITS CURRENT SIZE AND CONDITION IS AN EXAMPLE OF WHAT TYPE OF APPRAISAL PRINCIPLE? SUBSTITUTION ACCORDING TO THE STATUTE OF FRAUDS IN ORDER FOR A REAL ESTATE SALES CONTRACT TO BE ENFORCEABLE IN COURT THEY MUST BE ...

Champions SAE Property Management | Latest Version | 2024/2025 | Graded A+ **What are the primary duties of a property manager?** A property manager's responsibilities are outlined in the management agreement with the property owner. Generally, they must handle diverse tasks and possess comprehensive knowledge of all real estate aspects. **What ethical principles does a property manager owe to the property owner as a fiduciary?** • Obedience • Loyalty • Disclosure • Confide...

Functional obsolescence - ANSWER-Refers to the loss in desirability of the style, layout, or function of an element of a property over time. Sales Comparison - ANSWER-The approach used as the best indicator of value for existing properties. External obsolescence - ANSWER-The loss in value of a property caused by factors outside of the property itself. loan-to-value ratio (LTV) - ANSWER-the percentage of value or sales price that a lender is willing to finance. An appraisal that ...

Principles of Real Estate 2 Champion Questions and Correct Solutions 2024 An opinion of value - Answer -The appraised value of a property is: assessed value - Answer -the amount that your local government determines your property to be worth for tax purposes subject property - Answer -The property that is being appraised. ad valorem - Answer -according to value Principle of Conformity - Answer -Maximum value is found when there is a reasonable degree of similarity or homogeneity USPAP (...

What is environmental science? - Answer-An integrated study of: 1. How the Earth works 2. Identifying problems w/ the way the Earth is working 3. Coming up w/ solutions to environmental problems Would you support the addition of a $1.00 tax to every gallon of gas to help offset the harmful effects of burning gasoline that's passed onto the environment? - Answer-The freedom of travel provided by vehicles and other forms of transportation is nothing but a privilege. Though they offer an arr...

Colibri Real Estate (Updated) 178 Questions And Answers Rated A+ 2023 1. In real estate, which of the following is correct about the term "title?": The term title is a concept referencing the rights associated with ownership. 2. Taxes and insurance are often prepaid at closing to establish the escrow account. On which page of the Closing Disclosure form will the buyer see an accounting of the escrow account set up?: Page two, under other costs On page two of the form, other costs ar...