External obsolescence - Study guides, Class notes & Summaries

Principles of Real Estate 2 (TEXAS) Exam With 100% Correct Answers 2024 The approach used as the best indicator of value for existing properties. a. functional obsolescence b. sales comparison c. highest and best use d. market value e. external obsolescence - answerB Refers to the loss in desirability of the style, layout, or function of an element of a property over time. a. functional obsolescence b. sales comparison c. highest and best use d. market value e. external obsolescenc...

PSI Maryland Practice Exam (National Real Estate Salesperson) 80 Q&A/ . Terms like: Under the common law of agency, licensees owe the broker with whom they are associated all of the following duties EXCEPT _________? A. Loyalty. B. Competence. C. Indemnification. D. Full disclosure. - Answer: C. Indemnification. If an older building cannot be air-conditioned, it is an example of ___________ ? A. Economic obsolescence. B. Functional obsolescence. C. Physical deterioration. D. Exter...

Which would NOT be used in the capitalization approach? A. gross income B. operating expenses C. reproduction cost D. allowance for vacancy - C. reproduction cost A property had a land value of $40,000, a 2,000 square feet structure with a rebuilding cost of $70 per square foot, depreciation of $5,000 due to functional obsolescence and $1,500 due to physical depreciation. What would be the estimate of value for this property using the cost approach? A. $133,500 B. $140,000 C. $173,500 ...

PSI Maryland Practice Exam Questions and Answers Already Passed If an older building cannot be air-conditioned, it is an example of ___________ ? A. Economic obsolescence. B. Functional obsolescence. C. Physical deterioration. D. External deterioration B. Functional obsolescence. An appraiser MUST be licensed or certified to handle Federally related work on residential property valued at more than ___________? A. $100,000. B. $250,000. C. $500,000. D. $1,000,000. B. $250,...

Which statement provides the basic justification for zoning? A. There must be regulations in place to prevent pollution B. The government does not want to encourage land development C. The inappropriate use of one's property may affect the value of another D. Professional planners want to control development - Answer- C. The inappropriate use of one's property may affect the value of another What is the rationale behind government planning of real estate development? A. To manage futu...

All of the following are prohibited under the antitrust laws EXCEPT -Competing property management companies agreeing to standardized management fees -competing brokers allocating markets based on the value of homes -a broker's setting a company commission schedule -real estate companies agreeing NOT to cooperate with a broker because of the fees that broker charges - ️️a broker's setting a company commission schedule A rancher owns a parcel of land on which oil was discovered. ...

Functional obsolescence Refers to the loss in desirability of the style, layout or function of an element of a property over time Sales comparison best indicator of value for existing properties highest and best use the legal use for property that gives the greatest return in money and/or amenities external obsolescence the loss in value of a property caused by factors outside the property itself principle of contribution Master01 |Excellent Study Material| Latest update 1 | ...

Principles of real estate II (Champions) Latest 2024 Already Passed Functional obsolescence Refers to the loss in desirability of the style, layout or function of an element of a property over time Sales comparison best indicator of value for existing properties highest and best use the legal use for property that gives the greatest return in money and/or amenities external obsolescence the loss in value of a property caused by factors outside the property itself principle o...

Which would NOT be used in the capitalization approach? A. gross income B. operating expenses C. reproduction cost D. allowance for vacancy - C. reproduction cost A property had a land value of $40,000, a 2,000 square feet structure with a rebuilding cost of $70 per square foot, depreciation of $5,000 due to functional obsolescence and $1,500 due to physical depreciation. What would be the estimate of value for this property using the cost approach? A. $133,500 B. $140,000 C. $173,500 ...

A house with outmoded plumbing is suffering from -curable physical deterioration -external depreciation -incurable physical deterioration -functional obsolescence - correct answer functional obsolescence In order to be a License member of the commission, a person must be -a KY citizen -a non-felon -all of the above -a licensed broker - correct answer all of the above A licensed real estate professional acting as a point of contact between two or more people in negotiating the sale, re...