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REAL 4000 UGA Test 1 | Latest Update | 2024/2025 | Graded A+ $9.95   Add to cart

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REAL 4000 UGA Test 1 | Latest Update | 2024/2025 | Graded A+

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REAL 4000 UGA Test 1 | Latest Update | 2024/2025 | Graded A+ What is the definition of real estate? Real estate refers to land and anything permanently attached to it, including buildings and improvements. What is the role of a real estate agent? A real estate agent assists clients ...

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  • September 4, 2024
  • 22
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • REAL 4000 UGA
  • REAL 4000 UGA
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REAL 4000 UGA Test 1 | Latest Update |
2024/2025 | Graded A+
What is the definition of real estate?


✔✔ Real estate refers to land and anything permanently attached to it, including buildings and

improvements.




What is the role of a real estate agent?


✔✔ A real estate agent assists clients in buying, selling, and renting properties.




What does market value mean in real estate?


✔✔ Market value is the estimated amount for which a property should sell on the open market.




What is a mortgage?


✔✔ A mortgage is a loan specifically for purchasing real estate, where the property itself serves

as collateral.




What is the purpose of a title search?




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,✔✔ The purpose of a title search is to verify the legal ownership of a property and identify any

claims or liens against it.




What is appraisal in real estate?


✔✔ An appraisal is an assessment of a property's value conducted by a professional appraiser.




What does equity refer to in real estate?


✔✔ Equity refers to the difference between the market value of a property and the amount owed

on any mortgages or liens against it.




What is a deed?


✔✔ A deed is a legal document that transfers ownership of property from one party to another.




What does escrow mean in real estate transactions?


✔✔ Escrow refers to a financial arrangement where a third party holds funds or documents until

specific conditions are met.




What is a home inspection?



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, ✔✔ A home inspection is a thorough examination of a property's condition, typically conducted

before the purchase is finalized.




What is zoning?


✔✔ Zoning refers to the regulation of land use by local governments, determining how

properties in specific areas can be used.




What is the purpose of a real estate disclosure?


✔✔ A real estate disclosure provides information about the condition of a property and any

known issues to potential buyers.




What is closing in a real estate transaction?


✔✔ Closing is the final step in a real estate transaction where ownership is transferred from the

seller to the buyer, and all financial transactions are completed.




What is capitalization rate in real estate investing?


✔✔ The capitalization rate, or cap rate, is a measure used to evaluate the profitability of a real

estate investment, calculated by dividing the net operating income by the property’s purchase

price.


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