Aceable Agent - Texas Real Estate 1 Practice Test ( Answered )

Aceable Agent - Texas Real Estate 1 Practice Test ( Answered ) Severance - ANS turn real property into personal property Voidable - ANS can be terminated or rescinded by either party Real property refers to the land and improvements on it plus the set of rights associated with real estate ownership. - ANS land, and improvements on it plus the set of rights associated with real estate ownership Sponsoring Broker - ANS Sales agents accept commission from Counteroffer - ANS party makes changes to an offer and represents the new offer Uniqueness - ANS no two tracts of land are the same Special Agency - ANS Broker signs listing agreement with seller Lot and Block - ANS Plat, Oak Grove, Block 600, Lot 5, Dallas County, TX Fair Housing - ANS the Department of Housing and Urban Development, commonly referred to as HUD, enforces the What consequences could a broker suffer if a court concludes they knowingly and intentionally conveyed incomplete or false information to a customer? - ANS If they are found to be knowingly and intentionally at fault, they may be punished with Treble damages for both economic damages and mental anguish. grounds for disciplinary action, including revocation or suspension of a license, EXCEPT - ANS Asking buyers to provide their own transportation to inspect a property Condo - ANS An owner lives in a single family dwelling but only owns the building. The homeowner's association owns and maintains the grounds, the pool and the exercise room. All of the owners in the area share the common areas. What does the owner live in? Market Information - ANS agents use as a basis for advising a prospect Trade Fixture - ANS Dining Room Table in NOT