External obsolescence - Study guides, Class notes & Summaries

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 a...

What is the form you sign that says you will pay the loan back ? - promissory note What is the post licensing grace period after first expiration ? - none Deposits is a form of... - valuable consideration Physical land and improvements - real property Is it a violation if a sales associate work for two brokers Monday-Friday, and Saturday and Sunday and getting paid commission from both - Yes What is the maximum fine per offense ? - $5,000 per fine Out of state broker sends a customer, and ...

Principles of Real Estate 2 Champion Exam With 100% Correct Answers 2024 What does D.U.S.T. stand for? - answerDemand, Utility, Scarcity, Transferability the percentage of value or sales price that a lender is willing to finance - answerLoan to Value Ratio (LTV) the value of a property is equal to the sum of the contributory value of each of its component parts. - answerprinciple of contribution the forces acting on a parcel of land are always affecting the value of the land - answerPRIN...

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 ...

Principles of Real Estate 2 Champion Exam With 100% Correct Answers 2024 What does D.U.S.T. stand for? - answerDemand, Utility, Scarcity, Transferability the percentage of value or sales price that a lender is willing to finance - answerLoan to Value Ratio (LTV) the value of a property is equal to the sum of the contributory value of each of its component parts. - answerprinciple of contribution the forces acting on a parcel of land are always affecting the value of the land - answerPRIN...

appraisal - value of a property maybe affected by social, economic, govt and environmental influences Loan-to-Value Ratio (LTV) - The percentage of value or sales price that a lender is willing to finance. limited appraisal report - exterior only/drive by inspection. deemed as low risk loan highest and best use of property - legal use that gives the greatest return Principal of Contribution - cost does not equal value Residential Mortgage Loan Originators (RMLO) - Must be certified licenc...

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 ___________?

PSI VA Actual Exam Questions With Reviewed 100% Correct Detailed Answers Guaranteed Pass!! 1. A person who receives real property by will is called a 1. trustee 2. devisee 3. testator 4. hypothecator - ANSWER 2. a devisee 2. Riparian rights would exist in a 1. condominium on a bay 2. house on a bay 3. hotel whose land abuts a large lake 4. cooperative on a river - ANSWER 4. cooperative on a river 3. A developer was able to buy 2 adjoining single family ...

Champions School Principles of Real Estate II Latest Update Graded A+ Appraisal An Appraiser's opinion of value Principle of conformity Suggests that value is maximized when there is reasonable degree of homogeneity, or sameness, in a neighborhood USPAP Uniform Standards of Professional Appraisal Practice Uniform Standards of Professional Appraisal Practice Standards that have been established by the Appraisal Standards Board of the Appraisal Foundation Ad Valorem According to...

Barney Fletcher Exam Questions With Reviewed 100% Correct Detailed Answers Guaranteed Pass 1. 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 2. 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 depreci...