Champion School Of Real Estate
Latest uploads at Champion School Of Real Estate. Looking for notes at Champion School Of Real Estate? We have lots of notes, study guides and study notes available for your school.
-
145
- 0
-
16
All courses for Champion School Of Real Estate
Latest notes & summaries Champion School Of Real Estate
Search Engine Optimization (SEO) 
The process of maximizing the number of visitors to a particular website by ensuring the website appears high on the list of results returned by a search engine. 
 
 
 
Fcebook Live 
Video streaming through facebook. 
 
 
 
CoStar Database 
Functions much like a residential MLS, connecting commercial agents with brokerages, owners, lenders, property managers, appraisers, and investors. 
 
 
 
Virtual Reality (VR) 
A computer-generated image or environment that c...
What does D.U.S.T. stand for? 
Demand, Utility, Scarcity, Transferability 
 
 
 
the percentage of value or sales price that a lender is willing to finance 
Loan to Value Ratio (LTV) 
 
 
 
the value of a property is equal to the sum of the contributory value of each of its component parts. 
principle of contribution 
 
 
 
the forces acting on a parcel of land are always affecting the value of the land 
PRINCIPLE OF CHANGE 
 
 
 
the legal use that gives the greatest return in money and/or amen...
Subsurface rights 
Rights that include ownership of oil, gas and other minerals 
 
 
 
Surface and air rights 
Rights that are conveyed in a cell tower lease 
 
 
 
Improvement 
Any permanent man-made addition to the land 
 
 
 
Personal property 
Things of a temporary, movable nature 
 
 
 
Modular homes 
Factory-built housing built to local building codes 
 
 
 
Riparian rights 
Rights that an owner has to use water from a river or stream on or next to a property 
 
 
 
Littoral rights 
Rights...
he minimum downpayment on a VA loan is: 
 
(a) 2% of the sales price 
 
(b) 0% of the sales price 
 
(c) 3.75% of the sales price 
 
(d) 1% of the sales price 
B 
 
 
 
_________ is the process of creating a new mortgage loan. 
 
(a) Origination 
 
(b) Funding 
 
(c) Underwriting 
 
(d) Servicing 
A 
 
 
 
A veteran can have more than one VA loan: 
 
(a) If the prior VA loan was paid in full and the property disposed of 
 
(b) The prior VA loan was assumed by an eligible veteran who substituted ...
Appraisal 
An Appraiser's opinion of value 
 
 
 
Principle of conformity 
Suggests that value is maximized when there is reasonable degree of homogeneity, or sameness, in a neighborhood 
 
 
 
USPAP 
Uniform Standards of Professional Appraisal Practice 
 
 
 
Uniform Standards of Professional Appraisal Practice 
Standards that have been established by the Appraisal Standards Board of the Appraisal Foundation 
 
 
 
Ad Valorem 
According to value 
 
 
 
Principle of progression 
The value of a ...
Deficiency 
A ________, in the reasonable judgment of the inspector, is a condition that adversely 
and materially affects the performance of a system, or component. 
 
 
 
Inspection 
Process of examining accessible items, and 
reporting their condition 
 
 
 
RESPA 
Prohibits abusive practices like undisclosed 
referral fees and kickbacks. Designed to help consumers become more knowledgeable of settlement services costs. 
 
 
 
Departure Provision 
The inspector may not inspect an item if the ...
CERCLA Liability Rules 
Hazardous Substance Liability 
1. Owner 2. Prop Manager 3. Cleaner of the Facility 
 
 
 
Fair Credit Reporting Act 
A federal law that established procedures that consumer-reporting agencies must follow in order to ensure that records are confidential, accurate, relevant and properly used. 
 
 
 
Truth in Lending Act 
An act which requires lenders to inform borrowers of all direct, indirect and true costs of credit. 
 
 
 
Equal Credit Opportunity Act (ECOA) 
The federal...
Buyer Representation Agreement 
An employment contract obligating a broker to act as a fiduciary to a buyer 
 
 
 
Implied Agency 
Agency as a result of customary, usual or typical conditions 
 
 
 
Broker 
A properly licensed party who serves a principal in an agency relationship- also called an agent 
 
 
 
Client 
A party represented by a broker in an agency relationship - also called a principal 
 
 
 
Duties of an Agent 
An agent owes his client obedience, loyalty, disclosure, confidentiali...
An opinion of value 
The appraised value of a property is: 
 
 
 
assessed value 
the amount that your local government determines your property to be worth for tax purposes 
 
 
 
subject property 
The property that is being appraised. 
 
 
 
ad valorem 
according to value 
 
 
 
Principle of Conformity 
Maximum value is found when there is a reasonable degree of similarity or homogeneity 
 
 
 
USPAP (Uniform Standards of Professional Appraisal Practice) 
Standards that have been established b...
Price 
The most common reason a property fails to sell is __________. 
 
 
 
Marketing 
Matching human needs with goods or services to meet those needs is the process of ____ 
 
 
 
agent 
Problem solving is a key personality trait of a successful ___ 
 
 
 
D in AIDA stand for 
Desire 
 
 
 
Four P's of Marketing 
Product, Price, Place, Promotion 
 
 
 
A-I-D-A 
The four psychological steps of a sale, attention, interest, desire, and action 
 
 
 
To be an effective problem solver, it is benef...