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Exam (elaborations)

MA Real Estate Exam Study Guide (2022/2023) Rated A+

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Appraisal An estimation of a property's value, usually prepared by a professional who is licensed in this field. Brokerage The business of bringing people together in a real estate transaction. Commerical The types of properties that include office spaces, shopping centers, stores, theaters, hotels, parking facilities, etc. Development The term for the construction of improvements upon the land. Elevation Certificate Insurance agents are required to obtain one of these on any property before issuing quotes for flood insurance. Financing The pledging of real property and collateral for the repayment of a loan through a mortgage or deed of trust.

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