Aceable principles 1 - Study guides, Class notes & Summaries

Aceable Principles 1 combined, Questions And Complete Answers BPO broker's price opinion. process used by a hired sales agent to determine the potential selling price or estimated value of a real estate property. Reasons for a BPO. 1. The people in the home have asked to refinance the home and the lender does not want to pay for a full appraisal, but they do want to have some assurance that the home is valued at or above what the loan will be. 2. The people in the house are about...

Reasons for a BPO. 1. The people in the home have asked to refinance the home and the lender does not want to pay for a full appraisal, but they do want to have some assurance that the home is valued at or above what the loan will be. 2. The people in the house are about to be foreclosed on and the lender wants an inexpensive estimate of value. Approaches to value - ANSWER-Cost to replace: a method of estimating the value of a property by determining how much it would cost to replace the bu...

A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction B) To pay commission that agents were wrongfully deprived of C) For taxes for the state of Texas D) For TREC to recover the funds to keep their computer systems up to date -ANSWER- A) To pay an aggrieved party who has won a judgment against a licensee for damages from a real estate transaction Wesley just bought a house with a creek that flows along the south boundary. He wants...

Aceable Agent Texas Real Estate Principles 1 Level 1 (2024 / 2025) Actual Questions with Verified Answers, 100% Guarantee Pass

ACEABLE Principles 1 Practice Test

Real Estate Settlement Procedures Act (RESPA) - ANSWERSto protect consumers from abusive lending practices. General data - ANSWERSis information about a property's location. This could include the city, region, and neighborhood in which the property is situated. The appraisal report is usually paid by - ANSWERSthe buyer Specific data - ANSWERSinformation regarding the property itself. What types of data do Appraisers use? - ANSWERSBOTH Specific Data and General Data The appraiser...

ACEABLE Principles 1 Practice Test

ACEABLE Principles 1 Practice Test

ACEABLE Principles 1 Practice Test

Aceable Agent - Principles of Real Estate II Exam Notes with complete solutions 2023TOTAL = PART/PERCENTAGE PART = TOTAL x PERCENTAGE PERCENTAGE = PART/ TOTAL Formulas to calculate commission? PRINCIPAL What is the term that describes the money that is lent? CASH TO CLOSE Down payment minus earnest money? TOTAL SALES PRICE Loan payment + loan principal? ORIGINATION POINTS Loan points/fees charged 1% to compensate loan officers for underwriting and administering...