Florida Real Estate Revision Questions and Answers

Brokers who list and sell smaller businesses are business opportunity brokers. Before roadbuilding begins, a developer must submit a document to the local planning board for approval. The document is called a subdivision plat map. Investors who don't live on the properties they own are absentee owners. Real estate specialists who sell properties close to airports, seaports, and rail sidings work in which sector of the real estate business? Industrial The field of real estate that requires knowledge of financial statements for investment properties, traffic counts, and types of nonresidential property financing is commercial. A real estate licensee who works a "farm area" is usually involved in residential sales and listings. A person who takes applications for a mortgage loan must be licensed as a loan originator by the Florida Office of Financial Regulation. Approximately what percentage of the country's wealth is related to real estate? 75 When a developer deeds the streets and easements to the county government for future maintenance, it is called dedication. When making appraisals, real estate licensees must conform to the Uniform Standards of Professional Appraisal Practice (USPAP). A sales associate who researches the sale prices of properties that sold will learn what the house should appraise for. When a builder builds a house for a specific customer, it is custom building. The most common valuation process used by brokers and sales associates is the preparation of a comparative market analysis (CMA). A bank appraisal must be made by a state-certified or licensed appraiser.