Colibri Real Estate Chapter 1 Updated Exam |Questions With Verified Answers
4 views 0 purchase
Course
Colibri real estate
Institution
Colibri Real Estate
Colibri Real Estate Chapter 1 Updated Exam |Questions With Verified Answers
What five economic characteristics affect the value of land in the marketplace? (D.U.S.T.S) Correct Answer
1. Demand; The more demand a property has, the higher the value
2. Utility (Or usefulness); More space/rooms ...
Colibri Real Estate Chapter 1 Updated Exam |Questions With Verified Answers
What five economic characteristics affect the value of land in the marketplace? (D.U.S.T.S) Correct Answer 1. Demand; The more demand a property has, the higher the value
2. Utility (Or usefulness); More space/rooms etc.the more useful .3 bed 4 bath > 1 bed 2
bath
3. Scarcity; A property will sell quickly if limited property's available
4. Transferability; Real estate is readily transferable from seller to buyer (loans available, rates are low)
5. Situs; (Site) Unique property attractiveness
What are the three physical characteristics of land? Correct Answer - Immobile or permanent
- Indestructible
- Non-homogenous or unique
Explain the differences between the legal concepts of land and real estate. Correct Answer The legal concept of Real Estate encompasses all man made structures that are "permanently" attached to the land and on top of the land itself.
Define special purpose real estate and give an example. Correct Answer A property that
doesn't fall into the Residential, Industrial, Commercial, Agricultural property categories; usually churches, hospitals, schools or recreational areas
Name the 5 major rights included in the bundle of rights to real estate. Correct Answer The right of Possession
The right to Transfer Interests
The right to Encumber
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller SavvyMind. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $16.39. You're not tied to anything after your purchase.
