Champions Texas Principles of
Real Estate 2 Key Terms- chapter
1 Questions and Answers with
Complete Solutions
Funcional obsolence
a. The approach used as the best indicator of value for existing
properties.
b. Refers to the loss in desirability of the style, layout or function of an
element of a property over time.
c. The price a willing seller will sell for, and the price a willing buyer will
pay.
d. The legal use for property that gives the greatest return in money
and/or amenities
e. The loss in value of a property caused by factors outside of the
property itself. - ANSWER b. refers to the loss in desirability of the style,
layout or function of an element of a property over time.
Sales Comparison
, a. The approach used as the best indicator of value for existing
properties.
b. Refers to the loss in desirability of the style, layout or function of an
element of a property over time.
c. The price a willing seller will sell for, and the price a willing buyer will
pay.
d. The legal use for property that gives the greatest return in money
and/or amenities
e. The loss in value of a property caused by factors outside of the
property itself. - ANSWER a. The approach used as the best indicator of
value for existing properties.
Highest and best use
a. The approach used as the best indicator of value for existing
properties.
b. Refers to the loss in desirability of the style, layout or function of an
element of a property over time.
c. The price a willing seller will sell for, and the price a willing buyer will
pay.
d. The legal use for property that gives the greatest return in money
and/or amenities
Real Estate 2 Key Terms- chapter
1 Questions and Answers with
Complete Solutions
Funcional obsolence
a. The approach used as the best indicator of value for existing
properties.
b. Refers to the loss in desirability of the style, layout or function of an
element of a property over time.
c. The price a willing seller will sell for, and the price a willing buyer will
pay.
d. The legal use for property that gives the greatest return in money
and/or amenities
e. The loss in value of a property caused by factors outside of the
property itself. - ANSWER b. refers to the loss in desirability of the style,
layout or function of an element of a property over time.
Sales Comparison
, a. The approach used as the best indicator of value for existing
properties.
b. Refers to the loss in desirability of the style, layout or function of an
element of a property over time.
c. The price a willing seller will sell for, and the price a willing buyer will
pay.
d. The legal use for property that gives the greatest return in money
and/or amenities
e. The loss in value of a property caused by factors outside of the
property itself. - ANSWER a. The approach used as the best indicator of
value for existing properties.
Highest and best use
a. The approach used as the best indicator of value for existing
properties.
b. Refers to the loss in desirability of the style, layout or function of an
element of a property over time.
c. The price a willing seller will sell for, and the price a willing buyer will
pay.
d. The legal use for property that gives the greatest return in money
and/or amenities
