Principles of Real Estate

Principles of Real Estate 2 (TEXAS) Exam With 100% Correct Answers 2024 The approach used as 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 - answerB Refers to the loss in 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 obsolescenc...

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Principles of Real Estate 2 Champion Exam With 100% Correct Answers 2024 What does D.U.S.T. stand for? - answerDemand, Utility, Scarcity, Transferability the percentage of value or sales price that a lender is willing to finance - answerLoan to Value Ratio (LTV) the value of a property is equal to the sum of the contributory value of each of its component parts. - answerprinciple of contribution the forces acting on a parcel of land are always affecting the value of the land - answerPRIN...

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What is the primary purpose of real estate principles in professional practice? ️☑️ To provide foundational knowledge about property ownership, transfer, valuation, and legal responsibilities How is real property different from personal property? ️☑️ Real property is land and anything permanently attached to it, while personal property is movable and not fixed to the land What does the term “bundle of rights” refer to in real estate? ️☑️ The collection of legal rights i...

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