Real Estate U: Texas Real Estate Principles Part 1 Final Exam

Real Estate U: Texas Real Estate Principles Part 1 Final Exam supply - ANS The amount of goods offered for sale within a given market at a given price during a given time period. General Agent - ANS A property manager is an example of what type of agent? Special Agent - ANS A real estate agent is an example of what type of agent? Residential, Commercial, and Industrial - ANS The general uses of real property include the following: Market Comparison Approach - ANS A means of comparing similar type properties would have recently sold to the subject property is known as: Surface Rights - ANS Mineral rights are typically considered dominant to which of the following rights real estate - ANS Land and everything permanently attached to land is defined as Personal Property - ANS All property that is not land and is not permanently attached to land is known as Bundle of Rights - ANS The right of exclusion which allows a landowner to prevent others from entering or occupying their property is included in the Kitchen cabinets - ANS Which of the following is an example of a fixture Intentions of the party, adaption of the item, mold and permanence of house item was attached - ANS Which of the following is considered a legal test for determining if an item is a fixture or not customer - ANS This refers to the party the agent brings to the principal as seller or buyer of the property. General Agent - ANS An agent with full authority over one property of the principal is known as a Special Agent - ANS An agent with limited authority to act on behalf of the principal is referred to as a The agent finds a buyer who is ready, willing, and able to purchase the property. - ANS A seller's agent is entitled to a commission after customer - ANS A broker will work for a client and with a Care - ANS The "C" in the acronym COALD stands for which fiduciary duty? Assisting with counteroffers. - ANS The fiduciary duty of care when representing a buyer includes