What is real estate Study guides, Class notes & Summaries

What must you have signed by the customer before entering into a contract on a property that is currently under an active wdo warranty? - Form 13671 (consumer consent form) The eastern sub termite belongs to what family? - Rhinotermitidae Drywood and dampwood termites belong to the family? - Kalotemritidae according to the revised taxonomy of termites, these insects belong in the order ____ along with cockroaches - Blattodae the Old House Borer is a example of? - Longhorned wood borer whi...

Texas Principles of Real Estate II Final Exam| Questions and Verified Answers| Grade A| 2023/ 2024 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 ...

What are the classes of Property? - Personal Property and Real Property What is personal property? - Generally movable and unattached items. What is a trade fixture? - Personal property used for a person's business. (even if it attached to the real estate) What is Fructus Industriales? - Crops also known as chattle. What general categories does personal property fall under? - Intellectual, reputation, leases, partnership interests. Real Property - Everything within a specified bl...

Gold Coast FINAL EXAM STUDY SET for 4/11 Gold Coast FINAL EXAM STUDY SET (Questions and Answers, 100% Verified) what are the the areas a realtor should be an expert in? Marketing Valuation & Market Conditions Property Transfer "MVP" Does one need to be a resident of the state or a citizen of the U.S. to get a FL real estate license? to get a FL real estate license, you don't need to be a citizen What must an applicant for a real estate license do if he has been convicted of a cri...

FLORIDA TERMITE EXAM 2024 QUESTIONS AND ANSWERS 100% PASS What must you have signed by the customer before entering into a contract on a property that is currently under an active wdo warranty? - Correct Answer ️️ -Form 13671 (consumer consent form) The eastern sub termite belongs to what family? - Correct Answer ️️ -Rhinotermitidae Drywood and dampwood termites belong to the family? - Correct Answer ️️ - Kalotemritidae according to the revised taxonomy of termites, these ins...

Champions School of Real Estate Law of Agency – Questions and Answers Already Passed The principal is also known as client fiduciary relationship a relationship founded on trust and confidence Agency Relationship Exists when one person (the agent) acts for, or on behalf of another person (the principal). the principal is the one who hires and gives authority to the agent Texas Real Estate License Act TRELA Was passed 1939. The purpose is to protect the public against unscr...

Which of the following is NOT a RECA educational resource for industry professionals? - Answer- Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act - Answer- Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time - Answer- Consumer Price Index (CPI) Which of the following will occur to the supply of a good when there is a change in quantity...

Capitalization Rate - Answer- A rate used for converting property income into property value Discount Rate - Answer- The rate of return on a real estate investment. It reflects the compensation necessary to attract investors to give up liquidity. Recapture rate - Answer- Provides for the return of the investment in the wasting portion of the asset. this is similar to the depreciation rate for the improvment. Overall /rate - Answer- The direct relationship between annual net income and s...

PSI Exam Questions and Answers 100% Pass what would prevent a seller from providing marketable title Mechanics lien the seller has required that the buyer must use his title insurance company and that brokers reduce their portion of the real estate commission, increasing the sellers net proceeds This is illegeal according to respa If a license mentions MLS when advertising, the advertisement must include the name of the MLS According to the New Jersey Real estate Licensing Laws, which of the ...

Texas Auctioneer License Part 2 Exam Questions and Correct Answers Name some persons that are exempt from needing an auctioneer license. - CORRECT ANSWERS 1. U.S. court ordered sale 2. A government sponsored or conducted sale. 3. A charitable organization as long as no compensation 4. A sale of real property by a trustee under a security instrument. 5.A sale of real property by an owner with an interest or employee (unless he/she is a licensed auctioneer by trade) and all pr...