Real estate appraisals - Study guides, Class notes & Summaries

Private ownership of real property rights is subject to certain restrictions, known as the four powers of government. Which of the following is NOT one of the four powers of government that restrict real property rights? Correct Answer-Deed Restrictions Items that have been installed or attached to the land or building in a permanent manner are considered which of the following? Correct Answer-Real Property Which of the following is able to perform a formal appraisal of real estate? Correc...

REAL ESTATE APPRAISALS

1. The real estate market is local in nature what does that mean? - ANSWER Information about real estate can best be found through local sources, which makes the real estate market local in nature 2. You would expect a real estate licensee to perform all of the following activities, EXCEPT: A. Providing expert knowledge about construction methods and materials B. Providing expert knowledge to members of the public in the performance of specified services of real estate C. Following up wi...

Real Estate Gold Coast test 2023 |UPDATED 2024!!! Prorating Rent paid in advance monthly rent collected by the seller for the month must be divided between seller and buyer Areas of expert knowledge required for all real estate licensees? 1. Property Transfer 2. Valuation 3. Marketing (Not accounting or construction) Real estate licensees can perform valuations under the real estate license law if the valuation is not to be used _________. in a federally related transation ...

Which act was passed to regulate appraisal? - ANSWER in 1989, Congress passed the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) in response to the savings and loan crisis. What does Title XI of FIRREA require? - ANSWER competent individuals whose professional conduct is properly supervised to perform all appraisals in federally-related transactions. January 1, 1993 FIRREA - ANSWER federally-related appraisals must be performed only by state-certified appraisers. ...

REAL ESTATE APPRAISALS TEST 1

Improvement - ️️any artificial thing attached on or below ground, such as a building, fence, water line or sewer pipe, as well as growing things that are made part of the landscaping. Agency coupled with an interest - ️️Broker agrees to provide financing for condo being constructed with exclusive right to sell the units Special Purpose Real Estate - ️️churches, schools, cemeteries, and governmentheld lands Propriety lease - ️️the lease given to shareholders in a cooperative...

Principles of Real Estate Exam- Charles Cowell Questions and Answers 100% Pass What might be the role of a real estate broker in the event a homeowner seeks to overturn a property appraisal? A) a broker might be able to offer actual appraisals and sales prices of comparable homes B) a broker might offer the attorney for the local board of REALTORS to prepare the homeowners case C) a broker might testify about current market conditions and direction of home prices D) a broker might b...

Which statement is true regarding the use of the term REALTOR? All real estate licensees are REALTORS All REALTORS are members of the National Association of REALTORS (NAR) The terms real estate licensee and REALTOR may be used interchangeably The Florida DBPR authorizes the use of the term REALTOR - Answer-All REALTORS are members of the National Association of REALTORS (NAR) The term follow up refers to...? - Answer-what a sales associate does for buyers and sellers after the sale E...

Gold Coast RE 1001 Cram, Practice Math and Final Exam with complete solutions Graded A+ 312. Florida has established three authorized brokerage relationships. Unless otherwise established by agreement, what is the broker's relationship with the public? a. Nonrepresentation b. Single agency c. Dual agency d. Transaction brokerage D. Transaction brokerage 242. A broker has been found guilty of mail fraud by a court and sent to jail. The broker's license will: a. Automatically be ...