Texas real estate stuvia - Study guides, Class notes & Summaries

Texas Real Estate Exam- 2023 State Portion | Complete Questions & Answers Texas Real Estate Exam- 2023 State Portion | Complete Questions & Answers Texas Real Estate Exam- 2023 State Portion | Complete Questions & AnswersWho is responsible for the acts of a salesperson? - ANSWER - The sponsoring broker Failure on the part of the agent to advise the purchaser of real property in writing that he should have the abstract covering the property examined by an attorney of his own selection, o...

Champions School of Real Estate: Law of Contracts|208 Questions and Answers 100% AccurateChampions School of Real Estate: Law of Contracts|208 Questions and Answers 100% AccurateChampions School of Real Estate: Law of Contracts|208 Questions and Answers 100% AccurateTexas Real Estate Commission - ANSWER-Created by the legislature in 1949 to carry out the provisions of TRELA Unauthorized Practice of Law - ANSWER-When license holders add provisions to contracts that go beyond the factual busine...

1. Real property can be acquired or conveyed via - ANSWER transfer wills and trust intestate succession adverse possession by natural causes The transfer of the title to real property and possession of lands, tenements, or other things, from one person to another. - ANSWER Alienation Property is acquired by transfer when - ANSWER by an act of the parties or law, title is conveyed from one person to another by means of a written document. The most common method of transferring rea...

Lenders require a borrower to establish and maintain a reserve fund to ______. - ANSWER Pay any property taxes in case the borrower misses a payment Brandon recently purchased an old warehouse building. This building will serve as a hub for local deliveries of fruits and vegetables within the state. During its first week in operation, one of the delivery drivers was involved in an accident that spilled coconuts all over the road and shut down the interstate for hours. What type of risk is th...

What kind of professionals manage the legal aspects of a development project? - ANSWER Real Estate attorneys, title companies, surveyors, property insurance companies and government regulatory officials What types of professionals are involved in the transfer of rights and interest in Real Estate? - ANSWER Titles companies, Real Estate Brokers/ Sales Persons, Mortgage Brokers, Mortgage Bankers, Appraisers, Insurers Property is classified into what three types? - ANSWER Residential, Comm...

The liquidation of a financial obligation on an installment basis is referred to as...? Buy-down Discounting Amortization None of the above - ANSWER Amortization Which of the following is used by lenders to increase the lender's yield on the loan without increasing the annual interest rate...? Amortization Loan discount points Balloon payments Reduced broker fees - ANSWER Loan discount points The term "point" is slang: 0.1% 1% 2% 10% - ANSWER 1% In an improper frac...

Mixed Numbers - ANSWERSA number containing both a whole number and a fraction (examples: 1⅓; 9⅞) Improper Fractions - ANSWERSa fraction with its numerator equal to or greater than its denominator Commission Calculation - ANSWERSSales price X rate of commission = total commission Solving for the Commission Rate - ANSWERSCommission Rate = Commission ÷ Price Solving for the Property's Price - ANSWERSPrice = Commission ÷ Commission Rate Profit - ANSWERSProfit (or Loss) = Sellin...

Texas Real Estate Exam/ State & National Licensing – Complete Questions & Answers (100% Correct Answers)Texas Real Estate Exam/ State & National Licensing – Complete Questions & Answers (100% Correct Answers)Texas Real Estate Exam/ State & National Licensing – Complete Questions & Answers (100% Correct Answers)Texas Real Estate Exam/ State & National Licensing – Complete Questions & Answers (100% Correct Answers)Texas Real Estate Exam/ State & National Licensing – Complete Questions & ...

What does the denominator show? - ANSWER Tells how many total parts there are What should you do to convert fractions to decimals? - ANSWER Divide the numerator by the denominator Landlords base rents on what criteria? - ANSWER Landlords decide what their rents will be, based on the rental market, type of property and the geographic location. Formula: Commission - ANSWER Sales price x Rate of commission = Formula: Commission Rate - ANSWER Commission ÷ Price = Formula: Proper...

Profit - ANSWER The result of selling something for more than what it cost to purchase it Profit Margin - ANSWER is the percentage of selling price that is turned into profit. Interest - ANSWER the amount paid in return for the use of money. Types of Interest Calculations - ANSWER Simple Add-on Compound Add-on Interest - ANSWER entails computing the interest on the total amount of the loan for the entire loan term. Then this amount of interest is added to the total principal a...