Aceable Agent Principles of Real Estate 2 Question with complete solution 2023

Aceable Agent Principles of Real Estate 2 Question with complete solution 2023 Amortization The repayment of a loan principle over time Arrears Payment for an item or service after it's received Down Payment The initial payment made when buying something on credit, a ____________ is paid directly by the buyer to the seller Proration The allocation or distribution of an annual expense across smaller chunks of time Acreage A unit of measurement used to determine the size of land; 1 acre = 43560 square feet Appraisal The value of property, based on factors determined by a certified appraiser General data Information about the area surrounding a property, this could include the city, region, and neighborhood in which the property is situated Specific Data Information regarding the property itself Limited Appraisal A simple, abbreviated version of a regular appraisal Market Value The price for which a property would sell if offered openly under normal conditions. This refers to the economic principle, it's the price that a buyer and seller would probably accept