Idaho real estate stuvia Study guides, Class notes & Summaries

The primary purpose of the Idaho Real Estate Commision is to? - Answer Protect the public and industry The initial application for the real estate license is administered by? - Answer Idaho Real Estate Commission Where does the money come from to operate the Idaho Real Estate Commission? - Answer All Licensees The Idaho Real Estate Commission consists of how many member commissioners? - Answer 5 The Idaho Real Estate Commission generally meets? - Answer 6 to 8 times a year Course ...

The primary purpose of the Idaho Real Estate Commission is to: - Answer Protect the public and industry Initial application for a real estate license is administered by: - Answer Idaho Real Estate Commission Where does the money come from to operate the Idaho Real Estate Commission? - Answer All Licensees The Idaho Real Estate commission consists of how many member commissioners - Answer 5 The Idaho Real Estate Commission generally meets - Answer 6-8 times a year Course make-up wo...

easements in Gross are - Answer Agreements are personal in nature, does not attach to a dominant estate, rather a person or entity what type of easement attaches to the owner's land and transfers to the new owner? - Answer appurtenant easement the parcel that provides the land for the easement is the - Answer servient estate the party that uses an appurtenant easement is called - Answer dominant estate this refers to the number of lots a parcel of ground can be subdivided into - Ans...

Appraisal - Answer an estimate or opinion of value based on supportable evidence and approval methods CMA - Comparable Market Analysis - Answer an analysis of probable value of real estate done by individual other than an appraiser BPO - Broker Price Opinion - Answer an opinion of value of real estate value done by a licensee with a broker level license. can charge Elements of Value - Answer 1) demand with purchasing power 2) utility 3) scarcity 4) transferability Market Value - A...

Protect the public and industry - Answer The primary purpose of the Idaho real estate commission is to: Idaho real estate commission - Answer Initial application for a real estate license is administrated by All licensees - Answer Where does the money come from to operate the Idaho real estate commission 4 - Answer The Idaho real estate commission consists of how many member commissioners Monthly - Answer The Idaho real estate generally meets: Any pre-license courses - Answer Cour...

(DPREC) How many real estate commissioners are there and how long do they serve? - Answer 4 serving 4 year terms (DPREC) Which activity does not require a real estate license? - Answer Property management (DPREC) What is the maximum penalty for brokering a real estate deal without a license? - Answer up to $5,000 and a year in jail (DPREC) Which organization monitors the code of ethics? - Answer NAR (National association of Realtors) (DPREC) Which activity does IREC NOT have au...

Equity is defined as a. The purchase price of property less the market value today b. The market value less the purchase price c. The market value less the debt owed d. The purchase price less the debt owed - Answer c. The market value less the debt owed What are the owner's rights if their farm zoning is changed by the county to single family residential? a. They must build single family homes b. Their current use must cease c. You can't fight city hall d. Their old use c...

Abstract of Title - Answer The condensed history of a title to a particular parcel of real estate, consisting of a summary of the original grant and all subsequent conveyances and encumbrances affecting the property - certification by the abstractor that the history is complete and accurate. 213 Acceleration Clause - Answer Clause in a mortgage or deed of trust that can be enforced to make the entire debt due immediately if the borrower defaults on payment or covenant. Accession - Answer A...

In an office that allows for Limited Dual Agency with Assigned Agents how would the broker herself work with a buyer client to buy and in house listing of one of her agents? - Answer She would represent the buyer with Limited Dual without Assigned Agents. Which is true of Limited Dual Agency with Assigned Agents? - Answer Each agent may advocate fully for their client in the sale. If a builder also has an active Idaho real estate license what must they do when they sell their homes? - Answ...

Licensing Requirements: Is a High School Diploma a licensing requirement? - Answer Yes - High School Diploma is required. How long do you have to wait to attain a new license if you have been suspended, are a felony, relevant misdemeanor convictions for fraud, misrepresentation, or dishonest or dishonorable dealings? - Answer Five years How long is your 90 Hour pre-license education valid for? - Answer Three Years How long is your license examination valid for? - Answer One year What...