Gold coast chapter 1 - Study guides, Class notes & Summaries

Gold coast chapter 15Which of the following best describes the free enterprise system? A. A market system B. Centralized system c. Socialist system d. Communist system A. A market system All of the following statements apply to the real estate market, except: a. Situs value is value resulting from location B. Real estate is immobile C. Each parcel of real estate is unique D. The real estate market is national in nature D. The real estate market is national in nature how does t...

Real Estate Gold Coast Chapter 1-5 Complete Questions with 100% correct Answers Licensees have to be experts in all the following? Marketing, Valuation, Property Transfer What is farming? When licensees concentrate on ONE type, style of property or particular neighborhood In a business brokerage, what is the "going concern value" ? (COMBINED ASSETS OF A BUSINESS) value of the business, which includes income, intangible vs tangible, goodwill and value of real property I...

Gold Coast Chapter 16________ is the amount that is actually paid in a real estate transaction Price ___a__ is the amount that remains after all assets of a business have been sold in a hurried, but not forced, sale and all liabilities have been paid. It is the vale of a ____b____ A. Liquidation value B. Failing business that is not expected to continue ____ is the value to a typical buyer and a typical seller. This is the most common type of value that is estimated by appraisers....

Gold coast chapter 16What type of value does an appraiser most commonly estimate? A. Book B. Market C. Insurable d. Condemnation B. Market how is investment value best defined? A. The value of an individual B. The highest price a property would sell for in an open market C. The value based on the use of the property D. The minimum value of a business opportunity A. The value of an individual which of the following conditions is necessary for the sales price of a property to...

Gold Coast Chapter 15:Free enterprise system: - correct answer An economic system that both produces and distributes goods and services by the application of the four factors of production; (Land, labor, capital, and entrepreneurial ability). "Entrepreneurial ability" refers to: - correct answer The risk-taking and management component of production. (The Free Enterprise System) Production: - correct answer The question "what will be produced?" Is not easily answered. Res...

Gold Coast Chapter 1:Some economists estimate that close to (blank) of the country's gross domestic product (GDP) is related to the real estate industry. - correct answer 1/3 What is a brokerage? - correct answer A brokerage is a business in which real estate-related activities are performed under the authority of a licensed real estate broker. Licensees are expected to have expert knowledge in the following areas: - correct answer Property transfer, valuation and market conditions, an...

Gold coast chapter 12the instrument that contains the amount of the loan, interest rate, payment provisions, and other terms of the loan is the blank - correct answer Promissory note A mortgage is a blank - correct answer Pledge of security the clause in a mortgage that protects the borrowers interest and requires the lender to acknowledge performance by the borrower is the blank clause - correct answer Defeasance The clause that allows a parcel of property to be sold free and clear o...

Gold coast chapter 10which of the following best describes a contract for sale that contains a street address instead of a legal description? A. it is not valid under the statute of frauds b. It is valid only if witnessed c. It is valid, but may lead to Future dispute D. It is a violation of the code of ethics - correct answer C. It is valid, but may lead to a future dispute Which method of legal description uses compass bearings to indicate the direction of boundary lines? A. Lot a...

Gold coast chapter 16 questions with correct answers graded A+ 2024/2025________ is the amount that is actually paid in a real estate transaction Price ___a__ is the amount that remains after all assets of a business have been sold in a hurried, but not forced, sale and all liabilities have been paid. It is the vale of a ____b____ A. Liquidation value B. Failing business that is not expected to continue ____ is the value to a typical buyer and a typical seller. This is the most co...