champions school of real estate principles 2 quizlet

Demand is great and supply is short, prices increase; supply is high demand is low prices decrease, lower priced properties in the area will cause a decline in the value of the subject property, Absence of competition will cause prices to increase in the marketplace; increased competition tend to bring prices down, must be sufficient demand for the property for it to have value, If a type of property is to abundant it has reduced value. If the property cannot be transferred, it is of little value. It also offers continuing education courses for. closing disclosure, increases penalties for mortgage fraud 30 yrs$1mil, statute limitations 10 yrs. Economic obsolescence stating the exact nature of the estate being granted, metes& bounds, lot& block, govt survey system. permits additional borrowing on the same note and mortgage. \end{array} A rookie quarterback is negotiating his first NFL contract. tenancy of sufferance A value for existing properties method for comparing similar properties to the subject property. The legal use that gives the greatest return in money and/or amenities. operates mortgage backed securities program designed to facilitate the flow of capitol into the housing industry. Activitiesofmanagementengagedtospendcapitalinwaysthatareproductiveandwillhelpabusinessachieveitsobjectivesf. respa applicable. The loan becomes due upon the sale of the property or the death of the owner. Activitiesofmanagementengagedtooperatethebusinessj. Managerialaccounting9. loss in a property's value due to daily wear and tear. 2. Battery life between charges for the Motorola Droid Razr Maxx is 20 hours and the primary use is talk time. Profitability} & \text{$\quad$information for the internal use of a}\\ What does r2r^2r2 determine about the statistical significance of a relationship between a dependent and an independent variable? ", "Amazing staff and instructors that can help streamline the process of licensing or your continuing education. 3. Over 500 million tweets are sent per day. \text{1. it gives notice of moving in, the passive increase of the value of a parcel due to market forces. Increased competition will bring prices down. Get your Real Estate License Education on a Mobile Web App. It's simple! Theabilitytoearnenoughincometoattractandholdinvestmentcapitalg. Theintentionalpreparationofmisleadingfinancialstatementsi. Photographs of property The evidence an individual has of his or her right to possess land. 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. 4. local maps, indicating location of subject and comparables A lower interest rate is offered by the lender during the first year or more of the loan. Certified General Appraiser, person who is authorized by Texas Appraiser licensing and certification board to gain legal RE appraisal Experience under the sponsorship of a certified general or certified residential appraiser, the document that pledges the property at security for repayment, legal procedure whereby the secured property may be sold to satisfy the unpaid promissory note. How do I get a Texas Real Estate License? passed by congress in 1968. passed to protect consumer from fraud in the sale or lease of land. Equal Credit Opportunity Act; passed in 1974, ensures equal chance for credit. 3. number of payments or period of repayment value set on the property for tax purposes. Champions makes sure you are ready to take your State and National exam. * whole # by denominator the value if the property is equal to the sum if the contributory value of each of its component parts. The TREC residential contract forms are: Drafted by the Broker Lawyer Committee 2. Champions School Principles of Real Estate II Flashcards | Quizlet Social Science Law Civil Law Champions School Principles of Real Estate II Term 1 / 193 Appraisal Click the card to flip Definition 1 / 193 An Appraiser's opinion of value Click the card to flip Flashcards Learn Test Match Created by Texasrealtor Terms in this set (193) PDF Champions school of real estate principles 1 quizlet You can do it, we can help! ie. legal. very likely to be contested. deffence against claims which have arisen suring grantor ownership. Fraudulentfinancialreportingaccountinginformationintheformoffinancialstatementstodecisionmakersoutsidetheorganizatione. Theprocessofgeneratingandcommunicating10. \text{Other Expenses}&\$36,000&&\$34,500\\ TMARR requires that all persons who conduct assessment and remediation of mold be properly trained and licensed by the state. \text{10. Champions School of Real Estate - Exam Prep Flashcards | Quizlet final rule mandates the use of 2 disclosures that help the consumer in understanding the key features, costs and risk: 3 pages loan estimate & closing disclosure forms. Cost does not equal value Principle of change Change is constant, and are always effecting value Principle of Anticipation a. \text{Revenue}&&\$5,000&\$160,000\\ a type of appraisal review. protect consumers from fraud in the sale or lease of land, CERCLA comprehensive environmental response compensation and liability act. \text{3. Photographs of comparables a. Began in 1938 federal agency. Principles of Real Estate Exam 1 Study Guide Chapter 1: Either directly or indirectly for the purpose of bringing about a sale, purchase, or option to purchase, exchange, auction, lease, or rental of real estate, or any interest in real estate is required to hold a valid real estate license. when unscrupulous lenders take advantage of a consumer's lack of knowledge regarding lending practices. no obligation o extend credit. & \text{$\quad$operate the business}\\ history or list of all owners back to the sovereignty of the soil, you want this one. The absence of competition will cause prices to increase in the marketplace. 2. major functional obsolescence When preparing its planning budget the company estimated that it would serve 30 customers per month; however, during May the company actually served 35. & \text{g. An information system that measures,}\\ Cost does not equal value, Change is constant, and are always effecting value, the purchase price is affected by the expectation of future appeal and benefits, value of commodity is influenced by the cost of acquiring a substitute or comparable item. 7. Bank owns it now. Texas Principles 2 Exam Practice Questions - Champions School of Real % of the lesser of the appraised value or sales price that lender will lend. Principles of Real Estate 1 Key Terms Principles of Real Estate 1 Key Terms Flashcard Maker: juan brown 23 Cards - 1 Decks - 4 Learners Sample Decks: Level 1: Introduction to Modern Real Estate Practice Show Class Principles of Real Estate Part 1 Principles of Real Estate Part 1 Flashcard Maker: Deron Goodwyn 64 Cards - 2 Decks - 12 Learners Earn or renew your Loan Originator license. What documentation must the mortgage loan originator provide to the client no later than three business days after their mortgage loan application is received? Identify what will happen to the equilibrium price and equilibrium quantity in each of the following: a. Financingactivitiesb. Champions School of Real Estate - Licensing Classes and Online Courses However, as per the new report from the Gewos Institute for Urban, Regional and Housing Research, the sales boom may be coming to an end in the observable future. Agreements that combine the sale of securities with an agreement to buy the securities back at a later date. Champions School of Real Estate-Principles of Real Estate II - Quizlet Operatingactivitiesc. any property, whether real or personal, which is capable of being inherited. Texas Principles 2 Q & A - Champions School of Real Estate 1. original document of conveyance of land by the sovereign, investigation of all document that have been recorded relating to a property. Theintentionalpreparationofmisleadingfinancialstatementsi. protection up to purchase price, norm paid by seller (buyers benefit). they are bonded, much like a bank statement and it shows all cash received, expenses during a reporting period. covering more than one parcel of real estate, Texas Promulgated Contracts-CHAMPIONS STUDY, Principles Real Estate II- Practice Exam 2, Champions School of Real Estate-Principles of, Statistical Techniques in Business and Economics, Douglas A. Lind, Samuel A. Wathen, William G. Marchal, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman. The most probable price a property should bring in a competitive and open market. \text{2. original conveyance o land by the sovereign, resulting document from an investigation of all documents recorded during the history of a property. method of financing which preserves the low, existing interest rate on the original note. (any charge or fee- not transfer), state and local fees on mortgage and home sales based on the loan amount or sales price of property, loans interest rate increases after consummation, added to index to determine interest rate, 1. issued in the amount of the loan. (3) The Income Approach. when the value added by an improvement exceeds the costdo not over improve. standard financial index used in U.S. capital markets, and can be found in the Wall Street Journal. Examine the summary section of a monthly credit card statement. provides the consumer with assistance securing hard to place or niche sources f mortgage money. preserves low, existing intrest rate on the original note. AMWilson001 Champions Principles of Real Estate 2 Terms in this set (91) 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. period between rate changes monthly, 3 mo,6mo, 1yr, 3yr,5yr, 7yr. Champions School of Real Estate-Principles of, Texas Real Estate Exam Prep Class - Champion, Principles of Real Estate 2 Champions MATH SE, John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer, The Cultural Landscape: An Introduction to Human Geography, AP Edition, Anderson's Business Law and the Legal Environment, Comprehensive Volume, David Twomey, Marianne Jennings, Stephanie Greene. Servicemen's Readjustment Act (GI Bill of Rights), Was signed into law by President Franklin D. Roosevelt on June 22, 1944. is comprehensive program provided returning World War II service men and women with many medical bene ts, educational bene ts and low-interest loans to help the veteran assimilate back into civilian life, A special form of insurance which is designed to allow lenders to increase LTV ratio. Sending monthly payment statements and collecting monthly payments, maintaining records of payments and balances, collecting and paying taxes and insurance (and managing escrow and impound funds), remitting funds to the note holder, and following up on delinquencies. Flood maps RESPA real estate settlement procedure act, regulation x. requires residential mortgage loan originators to provide borrowers with timely disclosures of of nature and costs of real estate, final respa-tila integrated disclosure rule, 3 pg loan estimate Analysis of market data The process of producing accounting}\\ insured against loss resulting from defects of the title, types of changes in the ownership of the property, changes in property may be: involuntary or voluntary, transfer of title with the grantor's consent, given by the grantor or grantee.