FINC 371

Acceptance - Answer the action of consenting to receive or undertake something offered agreements for deed - Answer a type of seller financing in which the borrower/buyer makes payments to the seller/lender until an agreed upon amount has been paid and the seller/lender then delivers the deed to the buyer breach of contract - Answer The failure, without legal excuse, of a promisor to perform the obligations of a contract. Closing - Answer a meeting of the seller, the buyer, ...

What is Real Estate? - Answer Land + Improvements Improvements = Anything reasonably permanently attached/affixed to land What are the 6 most important things in Real Estate? - Answer Location, Location, Location Timing, Timing, Timing Real Estate Special Characteristics (7) - Answer 1. Fixed Location 2. Uniqueness 3.Interdependence of land uses 4. Long life 5. Long-term commitments 6. Large transactions 7. Long gestation period 4 Main Sectors of Real Estate - Answer...

improvements - Answer anything reasonably permantly attached/affixed to land Location and Timing - Answer What are the 3 most important things in Real Estate? (it is really only 2 just repeated 3 times) Real Estate - Answer is the physical land and appurtenances affixed to the land real property - Answer includes all interests, benefits, and rights inherent in the ownership of physical real estate title - Answer ownership rights to real property deed - Answer is ...

Ch. 5 - Answer Deeds and Titles All RE contracts must be in ______ - Answer writing 6 Essential Elements of a Deed - Answer 1. Grantor [Giver] 2. Grantee [Receiver] 3. Consideration [something of economic value] 4. Legal Description [metes/bounds, plats, etc] 5. Signatures [once have both, then it is considered executed] 6. Delivered [title not transferred UNTIL delivery to Grantee, filed with county] Covenants vs Warranties - Answer Covenant: agreement or promise [4] ...

Types of Residential Development - Answer 1.Single-family detached 2.Single-family attached 3.Multifamily 4.Manufactured homes 5.Second homes Single-family detached - Answer •Pro's -Privacy -Elbow room -Often have best resale value examples: -Patio or Zero -Lot-Line Homes -Traditional -Modern -Ranch patio house - Answer a detached house with at least one wall that touches the property line. Has garden court enclosed by house and walls. construction is from ...

urban and regional economics - Answer the discipline of studying real estate markets at the urban and regional level comparative advantage - Answer -rapid economic and population growth generally results because one locale has this over another -this may be a result due to advantages in transportation facilities, quality or quantity of other factors in the created environment, or because of natural resources, a favorable climate, or the quality or quantity of the labor force. transp...

agency - Answer a legal relationship between a principal and an agent agent - Answer the party authorized to conduct business on the principal's behalf blockbusting - Answer the illegal practice of encouraging property owners to sell their homes when minorities begin moving into an area broker - Answer an intermediary who brings together buyers and sellers, assists in negotiating agreements between them, executes their orders, and receives compensation for services render...

Financial market participants who borrow funds are called a. deficit units. b. surplus units. c. primary units. d. secondary units. - Answer A Those financial markets that facilitate the flow of long-term funds are known as a. money markets. b. capital markets. c. primary markets. d. secondary markets - Answer B If a corporation wants to borrow funds, it can issue bonds in the ______ market. a. secondary b. primary c. deficit d. surplus - Answer B ...