100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
COLIBRI REAL ESTATE PENNSYLVANIA FINAL EXAM 2024/2025 | ACCURATE CURRENTLY TESTING REAL EXAM VERSION WITH A COMPREHENSIVE STUDY GUIDE AND DETAILED ANSWERS WITH RATIONALES | EXPERT VERIFIED FOR GUARANTEED PASS | LATEST UPDATE$18.49
Add to cart
COLIBRI REAL ESTATE PENNSYLVANIA FINAL EXAM 2024/2025 | ACCURATE CURRENTLY TESTING REAL EXAM VERSION WITH A COMPREHENSIVE STUDY GUIDE AND DETAILED ANSWERS WITH RATIONALES | EXPERT VERIFIED FOR GUARANTEED PASS | LATEST UPDATE
4 views 0 purchase
Course
COLIBRI REAL ESTATE PENNSYLVANIA FIN
Institution
COLIBRI REAL ESTATE PENNSYLVANIA FIN
COLIBRI REAL ESTATE PENNSYLVANIA FINAL
EXAM 2024/2025 | ACCURATE CURRENTLY
TESTING REAL EXAM VERSION WITH A
COMPREHENSIVE STUDY GUIDE AND
DETAILED ANSWERS WITH RATIONALES |
EXPERT VERIFIED FOR GUARANTEED PASS |
LATEST UPDATE
COLIBRI REAL ESTATE PENNSYLVANIA FINAL
EXAM 2024/2025 | ACCURATE CURRENTLY
TESTING REAL EXAM VERSION WITH A
COMPREHENSIVE STUDY GUIDE AND
DETAILED ANSWERS WITH RATIONALES |
EXPERT VERIFIED FOR GUARANTEED PASS |
LATEST UPDATE
multiperil policies - --ANSWER---Insurance policies that offer
protection from a range of potential perils, such as those of a
fire, hazard, public liability, and casualty
risk management - --ANSWER---Evaluation and selection of
appropriate courses of action to minimize legal liability; also the
selection of appropriate insurance coverage
tenant improvements - --ANSWER---Alterations to the interior
of a building to meet the functional demands of the tenant.
life-cycle costing - --ANSWER---In property management,
comparing one type of equipment with another based on both
purchase cost and operating cost over its expected useful
lifetime
management agreement - --ANSWER---A contract between the
owner of income property and a management firm or individual
,property manager that outlines the scope of the manager's
authority
property manager - --ANSWER---Someone who manages real
estate for another person for compensation. Duties include
collecting rents, maintaining the property, and keeping up all
accounting
prepaid items - --ANSWER---On a closing statement, items that
have been paid in advance by the seller, such as insurance
premiums and some real estate taxes, for which he or she must
be reimbursed by the buyer
accrued items - --ANSWER---On a closing statement, expense
items that are incurred but not yet payable, such as interest on a
mortgage loan or taxes on real property.
proration - --ANSWER---Expenses, either prepaid or paid in
arrears, that are divided or distributed between buyer and seller
at the closing.
escrow - --ANSWER---The closing of a transaction through a
third party called an escrow agent, or escrowee, who receives
certain funds and documents to be delivered upon the
performance of certain conditions outlined in the escrow
instructions
credit - --ANSWER---On a closing statement, an amount
entered in a person's favor—an amount the party has paid or an
amount for which the party must be reimbursed.
,debit - --ANSWER---On a closing statement, an amount
charged, that is, an amount that the debited party must pay.
Real Estate Settlement Procedures Act (RESPA) - --ANSWER--
-The federal law that requires certain disclosures to consumers
about mortgage loan settlements. The law also prohibits the
payment or receipt of kickbacks and certain kinds of referral
fees.
reconciliation - --ANSWER---The final step in the appraisal
process, in which the appraiser combines the estimates of value
received from the sales comparison, cost, and income
approaches to arrive at a final estimate of market value for the
subject property
gross income multiplier (GIM) - --ANSWER---A figure used as
a multiplier of the gross annual income of a property to produce
an estimate of the property's value
gross rent multiplier - --ANSWER---The figure used as a
multiplier of the gross monthly income of a property to produce
an estimate of the property's value
capitalization rate - --ANSWER---The rate of return a property
will produce on the owner's investment
income approach - --ANSWER---The process of estimating the
value of an income-producing property through capitalization of
the annual net income expected to be produced by the property
during its remaining useful life.
, economic life - --ANSWER---The number of years during
which an improvement will add value to the land
staight-line method - --ANSWER---A method of calculating
depreciation for tax purposes, computed by dividing the adjusted
basis of a property by the estimated number of years of
remaining useful life.
external depreciation - --ANSWER---Reduction in a property's
value caused by outside factors (those that are off the property).
functional obsolescence - --ANSWER---A loss of value to an
improvement to real estate arising from functional problems,
often caused by age or poor design.
physical deterioration - --ANSWER---A reduction in a
property's value resulting from a decline in physical condition;
can be caused by action of the elements or by ordinary wear and
tear.
depreciation - --ANSWER---(1) In appraisal, a loss of value in
property due to any cause, including physical deterioration,
functional obsolescence, and external obsolescence. (2) In real
estate investment, an expense deduction for tax purposes taken
over the period of ownership of income property
index method - --ANSWER---The appraisal method of
estimating building costs by multiplying the original cost of the
property by a percentage factor to adjust for current construction
costs
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 doctorfirstbest. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $18.49. You're not tied to anything after your purchase.
