Mortgages that are either insured by the FHA or guaranteed by the VA:
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Tend to offer favorable terms
,In traditional appraisal theory, the first item in the adjustment sequence is
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Real property rights appraised
Timesharing is defined as
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limited ownership interests in, or the rights of use and occupancy of,
residential apartments or hotel rooms. There are two forms of timesharing; fee
timeshares and nonfee timeshares, fee timeshares may be based on timeshare
ownership or interval ownership. There are three types of nonfee timeshares: a
prepaid lease arrangement, a vacation license, and a club membership.
An estate in severalty involves _____owner(s).
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Only one
A purchaser bought a property for $215,000, put 15% down and borrowed the rest at
6.75% interest for 25 years. The lender charged 2.5 points at the closing. How much was
paid for the points?
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$4,568.75
215,000 x .85 = 182,750
182,750 x 0.25 = 4,568.75
The .85 is the decimal of 85% which is the percentage of the loan after the 15%
down payment is applied.
What is the most basic example of concurrent ownership?
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Tenancy in common. ( There is no limit to the number of tenants in common a
property can have. The ownership does not have to be in equal amounts. For
example, one tenant may own a 50% interest, and five others may each own
10%. There is no right of survivorship. If a tenant in common does, his interest
will go to his heirs, not the surviving tenants in common. They may also sell
without the approval or knowledge of the other tenants.
PUD- A planned unit development- is another type of ownership that features individual
ownership of a parcel combination with shared ownership of common areas. PUD is
defined as:
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Tend to offer favorable terms
,In traditional appraisal theory, the first item in the adjustment sequence is
Give this one a try later!
Real property rights appraised
Timesharing is defined as
Give this one a try later!
limited ownership interests in, or the rights of use and occupancy of,
residential apartments or hotel rooms. There are two forms of timesharing; fee
timeshares and nonfee timeshares, fee timeshares may be based on timeshare
ownership or interval ownership. There are three types of nonfee timeshares: a
prepaid lease arrangement, a vacation license, and a club membership.
An estate in severalty involves _____owner(s).
Give this one a try later!
Only one
A purchaser bought a property for $215,000, put 15% down and borrowed the rest at
6.75% interest for 25 years. The lender charged 2.5 points at the closing. How much was
paid for the points?
, Give this one a try later!
$4,568.75
215,000 x .85 = 182,750
182,750 x 0.25 = 4,568.75
The .85 is the decimal of 85% which is the percentage of the loan after the 15%
down payment is applied.
What is the most basic example of concurrent ownership?
Give this one a try later!
Tenancy in common. ( There is no limit to the number of tenants in common a
property can have. The ownership does not have to be in equal amounts. For
example, one tenant may own a 50% interest, and five others may each own
10%. There is no right of survivorship. If a tenant in common does, his interest
will go to his heirs, not the surviving tenants in common. They may also sell
without the approval or knowledge of the other tenants.
PUD- A planned unit development- is another type of ownership that features individual
ownership of a parcel combination with shared ownership of common areas. PUD is
defined as:
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