Colibri FL Real Estate License Ch. 1 question and answers rated A+ 2023
Colibri FL Real Estate License Ch. 1 question and answers rated A+ 2023Appraisal - correct answer An estimation of value. It is done by appraisers using specific techniques. Done to: obtain a loan, insurance value, divorce settlement or capital gain. Broker Price Opinion - correct answer An opinion by a local expert of the of the value of a property based upon properties recently sold in the market. Comparative Market Analysis (CMA) - correct answer A method of valuing homes that looks not only at recent home sales, homes in the market and homes that were listed but did not sell. Real estate brokers use special computer programs, such as the MLS, usually connected to local taxing and recording offices to obtain this information. Steps for land development - correct answer 1. Land acquisition 2. Approval by local authorities 3. Subdivision plat map 4. Recording 5. Construction Types of Residential Home Construction - correct answer 1. "Spec" homes 2. Tract homes 3. Custom home "Spec" homes - correct answer speculation homes, built without having a specific buyer in mind. Tract homes - correct answer built to a certain set of guidelines used for a particular subdivision
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