Aceable Agent - Principles of Real
Estate 2 EXAM ELABORATIONS
QUESTIONS AND VERIFIED
ANSWERS 2025 UPDATE | 100%
SOLVED
Save
Terms in this set (288)
The repayment of a loan principle
Amortization
over time
Payment for an item or service after
Arrears
it's received
The initial payment made when
buying something on credit, a
Down Payment
____________ is paid directly by the buyer
to the seller
, The allocation or distribution of an
Proration annual expense across smaller
chunks of time
A unit of measurement used to
Acreage determine the size of land; 1 acre =
43560 square feet
The value of property, based on
Appraisal factors determined by a certified
appraiser
Information about the area
surrounding a property, this could
General data include the city, region, and
neighborhood in which the property
is situated
Information regarding the property
Specific Data
itself
A simple, abbreviated version of a
Limited Appraisal
regular appraisal
The price for which a property would
sell if offered openly under normal
conditions. This refers to the
Market Value
economic principle, it's the price that
a buyer and seller would probably
accept
, Refers to the value given by a
licensed appraiser during the
Appraised Value mortgage origination process.
Appraisers are chosen by the lender
but paid for by the homebuyer.
Refers to the value placed on a
property by a governmental unit for
Assessed Value
use in levying annual real estate
taxes
The limit on the value of a loan,
Loan-to-Value usually a certain percentage of the
Ratio (LTV) home's appraised value or sales
price, whichever is lower
The property that is being evaluated
Subject Property
in any given appraisal
What is achieved when a property is
Highest and Best
used for the most appropriate
Use
purpose with the highest returns
The present value of a property is
Principle of affected by the anticipated income
Anticipation or utility that property will give to the
property owner
Estate 2 EXAM ELABORATIONS
QUESTIONS AND VERIFIED
ANSWERS 2025 UPDATE | 100%
SOLVED
Save
Terms in this set (288)
The repayment of a loan principle
Amortization
over time
Payment for an item or service after
Arrears
it's received
The initial payment made when
buying something on credit, a
Down Payment
____________ is paid directly by the buyer
to the seller
, The allocation or distribution of an
Proration annual expense across smaller
chunks of time
A unit of measurement used to
Acreage determine the size of land; 1 acre =
43560 square feet
The value of property, based on
Appraisal factors determined by a certified
appraiser
Information about the area
surrounding a property, this could
General data include the city, region, and
neighborhood in which the property
is situated
Information regarding the property
Specific Data
itself
A simple, abbreviated version of a
Limited Appraisal
regular appraisal
The price for which a property would
sell if offered openly under normal
conditions. This refers to the
Market Value
economic principle, it's the price that
a buyer and seller would probably
accept
, Refers to the value given by a
licensed appraiser during the
Appraised Value mortgage origination process.
Appraisers are chosen by the lender
but paid for by the homebuyer.
Refers to the value placed on a
property by a governmental unit for
Assessed Value
use in levying annual real estate
taxes
The limit on the value of a loan,
Loan-to-Value usually a certain percentage of the
Ratio (LTV) home's appraised value or sales
price, whichever is lower
The property that is being evaluated
Subject Property
in any given appraisal
What is achieved when a property is
Highest and Best
used for the most appropriate
Use
purpose with the highest returns
The present value of a property is
Principle of affected by the anticipated income
Anticipation or utility that property will give to the
property owner
