principals of real estate chapter 1
questions with answers.
Common law ANS -body of law based on common sense
Statutory law ANS -body of laws and enacted by federal and state legislative bodies
Appraisal ANS -providing a professional opinion of the value of real property
lenders rely on professional appraisal reports to? ANS -make sound lending decisions
Buyers often rely on appraisals when? ANS -negotiating the purchase of a property
an appraisal can be a useful guide for a seller when? ANS -pricing a property for resale
Supply and demand ANS -the primary determinants of real estate values
Brokerage ANS -overseeing the needs of the parties to a real estate transaction and seeing it to its
completion
not the same as agency
may or may not involve agency relationships.
Beyond traditional brokerage activities, the real estate industry employs a large number of people in
areas such as: ANS -- Appraisal
- Mortgage Lending
- Property Management
, - Apartment Locators
- Home Inspectors
- real estate development
- petroleum landmen
mortgage lending ANS -the business of providing money to individuals or corporations for the
conditional transfer or pledge of real estate as security for the payment of a debt
Texas Department of Savings and Mortgage Lending licenses ... ANS -Residential Mortgage Loan
Originators (RMLOs) in Texas
Licensure requires the completion of pre-licensing courses and a passing grade on a national and state
exam.
property management ANS -includes the management of residential and commercial properties on
behalf of the investor-owner of the property
Property managers are generally responsible for the day-to-day operations of the property,
maintenance, and tenant relations. In a property such as a retail center or office building, the property
manager is sometimes responsible for leasing the property. In other cases, a brokerage firm may be
responsible for leasing a property.
Apartment Locators ANS -work for firms that specialize in locating units for tenants in multifamily
complexes
should be familiar with the amenities of all complexes in the market area. An apartment complex
generally pays fees to them for referring tenants to them.
in Texas they must have a Texas Real Estate License.
home inspectors ANS -licensed in Texas by the Texas Real Estate Commission (TREC). The inspector-
candidate must complete a series of courses and pass the state exam
questions with answers.
Common law ANS -body of law based on common sense
Statutory law ANS -body of laws and enacted by federal and state legislative bodies
Appraisal ANS -providing a professional opinion of the value of real property
lenders rely on professional appraisal reports to? ANS -make sound lending decisions
Buyers often rely on appraisals when? ANS -negotiating the purchase of a property
an appraisal can be a useful guide for a seller when? ANS -pricing a property for resale
Supply and demand ANS -the primary determinants of real estate values
Brokerage ANS -overseeing the needs of the parties to a real estate transaction and seeing it to its
completion
not the same as agency
may or may not involve agency relationships.
Beyond traditional brokerage activities, the real estate industry employs a large number of people in
areas such as: ANS -- Appraisal
- Mortgage Lending
- Property Management
, - Apartment Locators
- Home Inspectors
- real estate development
- petroleum landmen
mortgage lending ANS -the business of providing money to individuals or corporations for the
conditional transfer or pledge of real estate as security for the payment of a debt
Texas Department of Savings and Mortgage Lending licenses ... ANS -Residential Mortgage Loan
Originators (RMLOs) in Texas
Licensure requires the completion of pre-licensing courses and a passing grade on a national and state
exam.
property management ANS -includes the management of residential and commercial properties on
behalf of the investor-owner of the property
Property managers are generally responsible for the day-to-day operations of the property,
maintenance, and tenant relations. In a property such as a retail center or office building, the property
manager is sometimes responsible for leasing the property. In other cases, a brokerage firm may be
responsible for leasing a property.
Apartment Locators ANS -work for firms that specialize in locating units for tenants in multifamily
complexes
should be familiar with the amenities of all complexes in the market area. An apartment complex
generally pays fees to them for referring tenants to them.
in Texas they must have a Texas Real Estate License.
home inspectors ANS -licensed in Texas by the Texas Real Estate Commission (TREC). The inspector-
candidate must complete a series of courses and pass the state exam
