The relationship between the amount of rent a specific property can command, and the value of the property to the owner. partially amortized loan with final payment substantially larger than the others. The loan becomes due upon the sale of the property or the death of the owner. title is conveyed when the deed is signed and. Alexander Holmes, Barbara Illowsky, Susan Dean, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman. Investingactivities6. & \text{$\quad$processes, and communicates financial}\\ Once the loan is closed it is sold to another lender. based on the assessed value of the property and the existing tax rate. TMARR is administered by the Texas Department of State Health Services (DSHS), and sets rules and regulations for the inspection, assessment and remedia- tion of mold. 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. when demand is high and supply is short, prices go up - and vice versa, presence of lower-priced properties in the area will cause a decline in the value of the subject property, presence of higher-priced properties in the area will cause an increase in the value of the subject property. Ethics} & \text{d. The process of generating and communicating}\\ b) What confidence level did the pollsters use? 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. Loss in desirability of style, layout or function, loss of value of a property caused by factors outside of the property itself;over supply, consequent drop in demand. the value of a property is equal to the sum of the contributory value of each of its component parts. Theintentionalpreparationofmisleadingfinancialstatementsi. The process by which the government exercises its right of eminent domain. the legal use that gives the greatest return in money or amenities. Loans that are short term, collateralized by the mortgage notes they fund, and are normally repaid through the sale of these notes to the secondary market. One with no guarantees, warranties, or covenants, Two or more persons sharing joint ownership may wish to divide the property amongst themselves, increased usability and value real property, The combination of two or more properties into one, list of all owners from the rst to the current owner. Helen Fortier February 10, 2022 The loss in a property's value due to daily wear and tear. TILA, FCRA, RESPA, ECOA. underwriter approval. ___________ 10. Comprehensive Environmental Response, Compensation, and Liability Act CERCLA. Demand rises and supply is constant. only legal for personal property. Sales Price monthly rent, the process of estimating the value of an income-producing property by capitalization of the annual net income expected to be produced by the property during its remaining useful life, an estimate of value based on current construction costs, less depreciation, plus land value, estimate of value by examining and comparing actual sales of comparable properties, part of income capitalization. can be voluntary or involuntary. Cost approach Analysis The tax and insurance is held in an escrow account, is partially amortized loan with a final payment substantially larger than the others. lender acquires property under foreclosure. issued in the amount of the loan. subsequent to adjustment, limits how much a payment can increase or decrease. Calculate the new balance. We feel that we provide an unparalleled Real Estate education in Texas and our students agree! estimate of value based on current construction costs. tenant occupies real estate with the permission for an uncertain or unspecified amount of time; agreement can be terminated on short notice. vetran loan, loans made by lender dd214 submission form 26-1880. section 502 loan 100% financing, no down payment, primary residences only, rural property loan. 8. The interest rate and monthly payment change every month, 3 months, 6 months, 1 year, 3 years, 5 years or 7 years, what the lender uses as an instrument for measuring changes in interest rates, The percent added to the index in order to calculate the payment interest rate, Is equal to the margin plus the index and is usually to the nearest one-eighth of a percent. Value, Income, Return. Exam-Federal 1-A2. whichever one is lower LTV Loan-to-Value Ratio 2. transfer of title that is a free act of the grantor. 4. local maps, indicating location of subject and comparables PMI is required when the LTV of a conventional loan exceeds 80%, the right of the government to regulate and control the way land is used, area of land separating one land use to another, changing the zoning of a property to a lower value, the right of the government to take private land for public use, the taking of land through eminent domain, the government's right to tax real estate, the process of transferring real estate to the state when a person dies intestate, imposed on land by developers, deed restrictions, Interstate Land Sales Full Disclosure Act. Collateral Dependent Loans (hard money loan), borrower receives funds secured by the value of a parcel of real-estate. examining of the public records and constructed a chain of title and an abstract of title. Escheat, right of government to regulate and control land. 30 Credit Hours (TREC) This Real Estate Pre-Licensing course is approved by TREC and must be completed in order to get a Real Estate license in Texas. respa applicable. & \text{$\quad$to spend capital in ways that are}\\ Consumer Financial Protection Bureau (CFPB) enforces what Acts? 6. initial truth in lending disclosure. Increased competition will bring prices down. The role money serves when it is used as a standard measure to set prices and make economic calculations. Change is constant; therefore, the forces acting on a parcel of land are always affecting the value of the land. Income approach Analysis the consummation of a real estate transaction in which all documents are signed and the proceeds of the mortgage loan are distributed. the market in which borrowers and mortgage lenders come together to create and negotiate terms of a mortgage transaction. Accounting2. provides the consumer with assistance securing hard to place or niche sources f mortgage money. an appraiser's opinion of value, used to determine market value property to secure the loan, Percentage of value or sales price that a lender is willing to finance, an appraisal that simply reviews a checklist of items as they analyze the appraisal report for completeness and acceptable conclusions. added to the index to calculate interest rates, teaser rate- lower rate offered initially. specifies requirements found in regulation z. (1) The Sales Comparison Approach tells NY desk to sell securities collecting payments from banks by reducing their reserve amounts. Agreements that combine the sale of securities with an agreement to buy the securities back at a later date. ___________ 2. Over 500 million tweets are sent per day. Loss of value of a building from its reproduction cost, resulting from wear and tear over time. price a wiling seller will sell for & price willing buyer will buy. The loss in desirability of the style, layout, or function of an element of a property over time. Match the terms that follow with the appropriate definitions. The most probable price a property should bring in a competitive and open market. Suggests that value is maximized when there is reasonable degree of homogeneity, or sameness, in a neighborhood, Uniform Standards of Professional Appraisal Practice, Standards that have been established by the Appraisal Standards Board of the Appraisal Foundation, The value of a subject property is increased by the value of surrounding properties, URAR (Uniform Residential Appraisal Report), The most probable price a property should bring in a competitive and open market under all conditions requisite to a fair sale, If a type of property in a market area is too abundant, it has reduced value. 16 pages. Deed that offers the most protection in which grantor fully warrants good clear title to the premises. \text{4. Financing activities} & \text{b. % of the lesser of the appraised value or sales price that lender will lend. a type of appraisal review. The action of government seizure of land for the good of the public. protection up to purchase price, norm paid by seller (buyers benefit). most conveyances are voluntary. designed to clean up sites contaminated with hazardous substance. Real estate prices in Germany remain the same, although overall sales are declining. ___________ 1. enacted by Congress in 1977 revised 1995, Passed 1974 ensures that all consumers are given an equal chance to obtain credit, U.S. federal law designed to protect consumers in credit transactions by requiring clear disclosure of key terms of the lending arrangement and all costs. Fraudulent financial reporting} & \text{$\quad$accounting information in the}\\ The loss in value of a property caused by factors outside of the property itself. responsible for: What documentation must the mortgage loan originator provide to the client no later than three business days after their mortgage loan application is received? minimum 100 investors. permits additional borrowing on the same note and mortgage, owner retains title of property while purchaser takes possession while paying principle. financing in which a borrower receives funds secured by the value of a parcel of real estate, Method of financing which preserves the low, existing interest rate on the original note. 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 Another Name for environmental or economic obsolescence. 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. Description of the property (street address is sufficient), Maintenance (maintained vs. deferred maintenance), Both landlord and tenant are expected to keep property. Money that has value apart from its use as money. in 1968 was established as private company,operates with private capital on a self sustaining basis to enhance the flow of funds in the secondary market. Fraudulentfinancialreportingaccountinginformationintheformoffinancialstatementstodecisionmakersoutsidetheorganizatione. Profitabilityinformationfortheinternaluseofa3. Terms of each contract are as follows: As his adviser, which contract would you recommend that he accept? Taxation Grantor implies ownership or the right to transfer title but does not provide a warranty of title, deed with no guarantees, warranties or covenants. 3. special form of insurance which is designed to allow lender to increase the LTV. oral/ deathbed will. Independent third-party appraiser will review the report, then verify the information. They prepare you for life as a Realtor. commercial property is depreciated over how many years? These are the 4 rights of land.
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