Texas Principles of Real Estate 2 2025 Complete Questions And Verified Answers/ Complete Solutions With Rationales |Get It 100% Accurate!! Already graded A+

12/26/24, 9:48 PM Texas Principles of Real Estate 2 2025 Complete Questions And Verified Answers/ Complete Solutions With Rationales |Get I…


Get 20% off Quizlet Plus after free trial Claim discount




Texas Principles of Real Estate 2 2025 Complete
Questions And Verified Answers/ Complete
Solutions With Rationales |Get It 100%
Accurate!! Already graded A+


Practice questions for this set


Learn


Studied 7 terms


Nice work, you're crushing it



Continue studying in Learn




Terms in this set (158)


The approach used as B
the best indicator of
value for existing
properties.


a. functional
obsolescence
b. sales comparison
c. highest and best use
d. market value
e. external obsolescence


https://quizlet.com/988376957/texas-principles-of-real-estate-2-2025-complete-questions-and-verified-answers-complete-solutions-with-rationale… 1/32

,12/26/24, 9:48 PM Texas Principles of Real Estate 2 2025 Complete Questions And Verified Answers/ Complete Solutions With Rationales |Get I…

Refers to the loss in A
desirability of the style,
layout, or function of an
element of a property
over time.


a. functional
obsolescence
b. sales comparison
c. highest and best use
d. market value
e. external obsolescence

The price a willing seller D
will sell for, and the price
a willing buyer will pay.


a. functional
obsolescence
b. sales comparison
c. highest and best use
d. market value
e. external obsolescence

The legal use for C
property that gives the
greatest return in money
and/or amenities.


a. functional
obsolescence
b. sales comparison
c. highest and best use
d. market value
e. external obsolescence




https://quizlet.com/988376957/texas-principles-of-real-estate-2-2025-complete-questions-and-verified-answers-complete-solutions-with-rationale… 2/32

,12/26/24, 9:48 PM Texas Principles of Real Estate 2 2025 Complete Questions And Verified Answers/ Complete Solutions With Rationales |Get I…

The loss in value of a E
property caused by
factors outside of the
property itself.


a. functional
obsolescence
b. sales comparison
c. highest and best use
d. market value
e. external obsolescence

The appraised value of a B
property is:


a. The sale price
b. An opinion of value
c. A market analysis
d. The market value of a
property

A "lite" appraisal is often A
referred to as a(n):


a. Drive-by appraisal
b. Full appraisal
c. Appraisal review
d. Summary appraisal

In the appraisal report, D
the property being
appraised is referred to
as the ___________________.


a. Target property
b. Comparable property
c. Sold property
d. Subject property




https://quizlet.com/988376957/texas-principles-of-real-estate-2-2025-complete-questions-and-verified-answers-complete-solutions-with-rationale… 3/32

, 12/26/24, 9:48 PM Texas Principles of Real Estate 2 2025 Complete Questions And Verified Answers/ Complete Solutions With Rationales |Get I…

A homeowner added a D
swimming pool to a
home at a cost of
$75,000. During an
appraisal, the appraiser
determined that the pool
added $55,000 to the
value of the property. In
this case, the appraiser
was applying the
principle of _______________ in
the analysis.


a. Anticipation
b. Change
c. Substitution
d. Contribution

An appraisal has a limited B
"shelf life" because of the
principle of __________________.


a. Anticipation
b. Change
c. Substitution
d. Contribution

The legal use of a B
property that gives the
greatest return in money
and/or amenities is
known as the property's
_______________.


a. Net adjusted value
b. Highest and best use
c. Going concern value
d. Assessed value




https://quizlet.com/988376957/texas-principles-of-real-estate-2-2025-complete-questions-and-verified-answers-complete-solutions-with-rationale… 4/32