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Elements of a Listing Agreement - Agency relationships - Brokerage fees - Property condition - Relationships with buyers - Market value of the property being listed - Local market conditions Additional items: - Permission to place a sign on the property - Permission to place a lockbox on the property - Permission to advertise the property online - Other provisions regarding showing times and instructions The Statute of Frauds - is a body of law that requires certain contracts ...

special warranty deed grantor promises to warrant and defend title, but only against claims which may have arisen during his or her period of ownership bargain or sale deed deed with no guarantees or warranties. Grantor implies ownership or the right to transfer title but does not provide a warranty of title quitclaim deed deed with no guarantees, warranties or covenants. grantor does not even claim to own the property. This type of deed most often used to clear up a cloud on the ti...

Final rule mandates the use of 2 disclosures that help the consumer in understanding the key features, costs and risk: 3 pages loan estimate & closing disclosure forms. Closure Disclosure (CD) is always compared to the loan estimate RESPA (Real Estate Settlement Procedures Act) implements Consumer Federal Protection Bureau Interstate Land Sale Full disclosure Act 1968 Passed by congress to protect consumers from fraud in the sale or lease of land Consideration somethi...

Quitclaim Deed A deed with no guarantees or warranties - it offers the buyer the least protection - can be used to correct or cure a defect or cloud on title Title evidence of ownership Descendant An individual who inherits property by intestate succession acquires title by descent Reliction Gradual recession of water leaving land permanently uncovered Assemblage and plottage combining several parcels of land into one Fee Simple Ownership the complete individual ow...

Professional land surveying practices act Set forth the definitions for land surveying and its practices in the State of Texas. The street address allows the property to be easily lo- cated, and is a valid legal description because it includes detail as to corners, boundaries and quantity of property described. False Field work often involves sometimes involves activity in rugged terrain, but individuals considering a surveying profession do not necessarily have to enjoy or get used ...

Exceptions to the requirement for completion of a Seller's Disclosure Notice, including sales: 1. Pursuant to a court order or foreclosure sale 2. By a bankruptcy trustee 3. To a lienholder by the owner of a property 4. By a mortgagee (lender) who has acquired the property through a foreclosure or a deed in lieu of foreclosure 5. By a fiduciary (e.g., an executor, trustee or guardian) in the course of administration of a decedent's estate, guardianship, conservatorship or trust 6. Fr...

Air rights are commonly leased or conveyed in In addition to mortgage payments, a homeowner's cost of ownership includes: Which of the following is a factor that can affect insurance premiums? The gain on the sale of an asset for the seller is known as The gain on the sale of a property is the difference between the initial purchase price and the final sales price. a. True b. False

Taxation The right of government to tax real property Condemnation The action of the government in taking private under the right of eminent domain. Abatement The term that describes methods used to handle the control of asbestos found in a property Blackwater Wastewater from toilets Encapsulate To contain, as in an asbestos abatement plan Material Fact Any fact about a property that might influence the decision of a purchaser Brownfields Land known to be haz...

Personality types - Whales: Whales can also be classified by the color yellow. These personalities are humanitarians. They love to be involved with the community and often get involved with charity work and non-profit organizations. Professionally, whales may be teachers or work for non-profits. If you are working with a client who you determine may be a whale, you can draw them in by talking about the ways that you give back to the community that you service and Copyright © 2018 Champions Sch...

Under the Tax Equity and Fiscal Responsibility Act there are three tests for specifying that a sales agent is an independent contractor: -The sales agent must hold a real estate license -the sales agent must be paid on a commission basis -the sales agent must have written contract with the broker specifying the sales agent is not an employee Age Discrimination in Employment Act of 1967 (ADEA) enacted by congress to prohibit age discrimination in employment Genetic Information Nondi...