Anything that is widely accepted in exchange for goods and services. the absence of competition will cause prices to increase in the marketplace. Real Estate Salesperson National Prep Exam 1.docx. possible polluted who may be held liable under CERCLA for the contamination of a property or resource. the consummation of a real estate transaction in which all documents are signed and the proceeds of the mortgage loan are distributed. certified commercial investment member (part of NAR). provide basic information to the lender including, income, debt and credit history. deffence against claims which have arisen suring grantor ownership. value set on the property for tax purposes. 5. partially amortized loan with final payment substantially larger than the others. permanent and absolute tenure of an estate in land w freedom to dispose at will. transferring real estate to the state when a person dies without heirs. limits how much a payment can increase/ decrease. a commodity is infuenced by the cost of acquiring a substitute or comparable item, Many lenders, especially when dealing with high-LTV loans, will order this type of appraisal, States that the purchase price is affected by the expectation of future appeal and benefits. Providing Top Quality Real Estate License Education in Texas for Over 30 Years! Texas Principles 2 Q & A - Champions School of Real Estate 1. Ethics10. & \text{$\quad$attract and hold investment capital}\\ The loss in a property's value due to daily wear and tear. Accounting} & \text{a. Champions Advantage Choose Method $1080 9 Course Licensing and Renewal Program $1445 $1685 SAVE $240 Courses included: Six 30-Hour QE Courses Real Estate Exam Prep Course Three 30-Hour SAE Renewal Courses 4-Hour TREC Legal Update 1 4-Hour TREC Legal Update 2 Additional details: FREE Books / PDFs Included FREE Exam Prep Retakes for 1 Year ", "Amazing staff and instructors that can help streamline the process of licensing or your continuing education. Activitiesofmanagementengagedto7. The Loan Estimate form combines elements of the Good Faith Estimate and the initial Truth In Lending disclosure into one. (Most reliable), Reduction in value from deterioration or obsolescence. \text{4. Financing activities} & \text{b. & \text{$\quad$to spend capital in ways that are}\\ Flood maps The mortgages are sold to a group of individuals (a government agency or investment bank) that securitizes, or packages, the loans together into a security that investors can buy. any property, whether real or personal, which is capable of being inherited. & \text{i. & \text{j. The process of collecting loan monthly payments, keeping records and balances, collecting and paying taxes and insurance. ___________ 10. The loss in value of a property caused by factors outside of the property itself. Title remains with the lender until loan is repaid. Theintentionalpreparationofmisleadingfinancialstatementsi. almost all parcels of land have the potential to appreciate in a rising market, personal advantages of owning real estate, hedge against inflation, higher than avg rate of return, leverage - use of borrowed money to make money, investing in real-estate (personal advantages), tax shelter, favorable capital gains, and tax shelter and deferred taxation, lack of liquidity, risk, expense and need for management, main reason for incentive to investment in real estate, 100% partnerships organized, limited & general partnership, or corporation raising funds for the purchase of real estate investment - under state and federal security laws, 3 types of real estate investment syndications, limited, general partnership or corporation under jurisdiction of state and federal security laws, real estate mortgage investment conduits (remic), seller/buyer residential temp lease. 5. \text{3. These are non conforming loans. Show the possibility density function for battery life for the Droid Razr Maxx phone when its primary use is talk time. Suppose that the battery life in both cases follows an exponential distribution. A legally enforceable declaration of how a person wishes his or her property to be distributed after death, one who benefits from something; a person who is left money or other property in a will or the like. high supply, low demand, prices go down, presence of lower priced properties in the area will cause a decline in the value of a subject property. special form of insurance which is designed to allow lender to increase the LTV. (Zoning example). A letter from a title insurance company in which it commits to issuing a title insurance policy on the insured subject to certain conditions and requirements. percentage of value or sales price that a lender is willing to finance.
Champions School of Real Estate (CSRE) - Course Hero lease where rental is based on gross recipts of the tenants business (shopping center), transfer of tenants rights and liabilites to another, right for tenant to match/ offer more than landlord may receive, transfer of rights/ leased space w liability remaining for lesee, act of mixing a clients fund w a brokers personal funds, education programs that lead to industry recognized designations, gives commercial real estate practicioneers an opertunity to further their buisness through education and networking, gives lanlord a picture of the finnancial health of the property. Analysis of market data Improvements to site 3. consumers are given equal chance to obtain credit. Cost approach Analysis quizlette586240 Terms in this set (60) a use of property that is not in agreement with present zoning laws nonconforming use A method of valuing a property based on the monetary returns it can be expected to produce is the income approach land exempt from real property tax includes government office buildings, parks, schools housing assistance program; Texas Veterans Land Board, the right of a government to regulate and control the way that an individual uses his or her land, the government's right to tax real estate, the right of a government to take an individual's land if he or she dies without a will or heirs, the action of government seizure of land for the good of the public, the right of the government to take private land for public use, the sum of energy used during the life cycle of a product. Principles of Real Estate 2 Champions School of Real Estate STUDY Flashcards Learn Write Spell Test PLAY Match Gravity appraisal Click card to see definition appraisers opinion of value Click again to see term 1/258 Previous Next Flip Space Created by Will77tx TEACHER Tags related to this set Marketing-Real Estate A Rare 150 /- Acre Parcel in the . some lenders accept this drive-by type of review for low LTV or low risk loans. Comprehensive Environmental Response, compensation, and Liability Act. never a reliable estimate of market value, standards that have been established by the Appraisal Standards Board of the Appraisal Founation, Universal Residential Appraisal Report; Fannie Mae 1004, sales comparison approach, cost approach, income approach, estimate of age based on the condition of the property. This ensures you quickly get to the core! Financingactivitiesb. A house may be well-maintained and been updated over the years; therefore, the appraiser might determine that a 20-year-old house might have an age of 10, According to HUD, a home has a life expectancy of, The appraisal of commercial income properties, I = income, R = return on investment and V = value (V =I R), (R= I V), (I =V X R), Term use in the appraisal report to describe the property being appraised, The market in which borrowers and lenders come together to create and negotiate the terms of a mortgage transaction, The practice of refusing to provide financing in a particular location, The detailed process of evaluating a borrower's loan application to determine the risk involved for the lender, The legal procedure under which property may be sold to satisfy an unpaid promissory note, The process of creating a new mortgage loan. ___________ 8. standard financial index used in U.S. capital markets, and can be found in the Wall Street Journal.
Principles of Real Estate 2 Champions School of Real Estate - Quizlet FERA also increases the statute of limitations for mortgage fraud from 5 years to 10 years. specifies requirements found in regulation z. insures the difference, Police Power 10. history or list of all owners back to the sovereignty of the soil. Consists of 79 local affiliates, 16,000 member companies and organizations, and more than 162,000 LEED Professional Credential holders. borrowers rated a-f. monthly payment includes an amount that is applied first to interest that is due with the remainder being applied to principle, asset based financing where a borrower receives funds secured by he value of a parcel of real estate, unscrupulous lender takes advantage of a consumers lack of knowledge. provides the consumer with assistance securing hard to place or niche sources f mortgage money. grantee gives to the grantor, most common, best type of deed to have. original document of conveyance of land by the sovereign, investigation of all document that have been recorded relating to a property. Adger Corporation is a service company that measures its output based on the number of customers served. Money that has value apart from its use as money. Activitiesofmanagementengagedtospendcapitalinwaysthatareproductiveandwillhelpabusinessachieveitsobjectivesf. looks like a deed. transferring funds to a title or escrow company, sending monthly payment statements and collecting monthly payments, The ability to sell an asset and convert it into cash. Leadership in Energy and Environmental Design-LEED, a 3rd party certification program for high performance buildings developed by the US Green Building Council. Theintentionalpreparationofmisleadingfinancialstatementsi. stating the exact nature of the estate being granted, metes& bounds, lot& block, govt survey system. Increased competition will bring prices down. TILA (Truth in Lending), RESPA ( Real Estate Settlements Procedures Act), FCRA (Fair Credit Reporting Act, ECOA (Equal Credit Opportunity Act), A federal law passed to ensure that banks would serve the needs of the community in which they were chartered to do business and prohibits redlining. Over 90% of our business is driven by word-of-mouth referrals from Real Estate Brokers, Sales Agents, Mortgage Loan Originators, Home Inspectors, and Appraisers.
Champions School of Real Estate-Principles of Real Estate II - Quizlet The reduction in value of property from causes such as deterioration or obsolescence. exists for the purchase and sale of existing mortgages to investors, provides a steady supply of funds to keep making loans, began in 1938. largest investors in home mortgages in the secondary market, began in 1970. purchases mortgages in the secondary market, buyers set more realistic pricing goals, better understanding of ability to pay, avoid showing property buyers cant afford, seller reassured buyer has sufficient income and credit to close the deal (is the best), % of the lesser appraised value or sale that the lender will lend, Found in conventional loans. Infer What might keep a State from accepting a categorical grant-in-aid? Terms of each contract are as follows: As his adviser, which contract would you recommend that he accept? | 4 years | |. The measure of money supply that includes only the forms of money that are readily available to spend: cash, checking account deposits, and travelers checks. Copy of most recent property survey Investingactivitiesdebtswhentheyaredue6. 1. value is maximized when there is a reasonable degree of homogeneity or sameness in a neighborhood. Agreements that combine the sale of securities with an agreement to buy the securities back at a later date. Adequate consideration The exchange of goods or services for other goods or services without the use of money. According to this principle, the value of
Champions School of Real Estate - Exam Prep Flashcards | Quizlet up to 90 days, main job is to protect and preserve the value of an investment property while generating income for the owner. A rookie quarterback is negotiating his first NFL contract. stockholder owned corporation, chartered by congress to increase the supply of funds that mortgage lenders can make available to homeowners and multifamily investors.