";s:4:"text";s:17357:"title to land in the United States can be traced back to its original owner, (Police Power,Eminent Domain,Taxation, Escheat), Changing the zoning of a property to a lower value, The amount of space required between the lot line and the building line, Interstate Land Sales Full Disclosure Act. The loan becomes due upon the sale of the property or the death of the owner. The value of a property may be affected by social, economic, governmental and environmental influences. helpful info about the cost pr mortgage settlement charges caused by abusive practices. ENERGY STAR program was established in 1992 under this Act. The lender transfers title back to the borrower when the loan is repaid. buying the market pools. Neighborhood description Sketch of floor plan some lenders accept this drive-by type of review for low LTV or low risk loans. & \text{$\quad$attract and hold investment capital}\\ Find the annual double-declining-balance (200% method) rate of depreciation. An independent 3rd party appraiser will be contracted to review the appraisal report to verify accuracy of data, elements and procedures used. title companies maintain their own date base of transactions within the county that is organized in a manner that makes title examination far more efficient than searching at county clerk, document tat conveys an interest in real estate from one party to another, evidence am individual has to possess land, investigation of all the documents that have been recorded relating to a property, opinion regarding state of title and ability to transfer, transfer of title that is free of grantor. payment plan allows a borrower to pay only the interest for a specified number of years, typically for 3 to 10 years, making it possible for a borrower to have smaller monthly payments for a period of time, Contributions to buyer's closing cost that are limited to 6% of the sales price, USDA Rural Development Guaranteed Housing Loan program, Insured by the U.S. Department of Agriculture. forces acting on the parcel of land are always affecting the value of the land. Theintentionalpreparationofmisleadingfinancialstatementsi. \text{3. power of sale under a mortgage in default. Activitiesofmanagementengagedtooperatethebusinessj. the most probable pice a property should bring in a competitive and open market under all conditions requisite to a fair sale. RevenueEmployeeSalariesandWagesTravelExpensesOtherExpensesFixedElementPerMonth$50,000$36,000VariableElementPerCustomerServed$5,000$1,100$600ActualTotalforMay$160,000$88,000$19,000$34,500. 5. Investingactivities6. Independent third-party appraiser will review the report, then verify the information. Principle of Increasing/or decreasing returns. 2. The USPS has a monopoly on every type of mail or package. transfer of title that is a free act of the grantor. Show the possibility density function for battery life for the Droid Razr Maxx phone when its primary use is talk time. Champions School of Real Estate-Principles of Real Estate II - Quizlet The loss in desirability of the style, layout, or function of an element of a property over time. 4. amount of any finance charge. AMWilson001 Champions Principles of Real Estate 2 Terms in this set (91) appraisal value of a property maybe affected by social, economic, govt and environmental influences Loan-to-Value Ratio (LTV) The percentage of value or sales price that a lender is willing to finance. 30 Credit Hours (TREC) This Real Estate Pre-Licensing course is approved by TREC and must be completed in order to get a Real Estate license in Texas. value set on the property for tax purposes. 8. Site description Champions School of Real Estate Principles 2 Test Review September 2018 STUDY Flashcards Learn Write Spell Test PLAY Match Gravity Anticipation Click card to see definition purchase price is affected by the expectation of future appeal and benefits Click again to see term 1/83 Created by rachelw1111 Key concepts: Consumer Credit Protection Act original conveyance o land by the sovereign, resulting document from an investigation of all documents recorded during the history of a property. Unlimited number of times. ___________ 4. higher for smaller properites, conveys an interest in real estate from one party to another. CERCLA-passed in 1980.was designed to clean up sites contaminated with hazardous substances, pollutants or contaminants. estate for years Once the loan is closed it is sold to another lender. an appraiser's opinion of value, used to determine market value property to secure the loan, Percentage of value or sales price that a lender is willing to finance, an appraisal that simply reviews a checklist of items as they analyze the appraisal report for completeness and acceptable conclusions. 7. \end{array} Match the terms that follow with the appropriate definitions. However, as per the new report from the Gewos Institute for Urban, Regional and Housing Research, the sales boom may be coming to an end in the observable future. . ratio of borrowers total recurring monthly debts. Champions School of Real Estate (CSRE) * School Info San antonio, Texas All Departments Documents Q&A Most Popular documents 5 pages Texas Principles 1 Exam Practice Questions - Champions School of Real Estate.docx 2 pages exam-missed (1).pdf 21 pages Texas State Portion Real Estate Exam part 2.docx 5 pages original document of conveyance of land by the sovereign, investigation of all document that have been recorded relating to a property. Liquiditycompanysmanagement4. doesn't indicate that they are legal owner, The government is the original owner of all land. risk based pricing, borrowers are rated A-F with prime borrows having a A rating. a limit on the amount the interest rate can increase or decrease at each adjustment date. Associated Board of Realtors - helpful for residential buyers' agents, return on the property when it is sold for a profit, method of raising funds for the purchase of real estate, passive increase in the value of a parcel due to market forces, potential income of a property in the amount of rent that would be collected in a year, additional capital or property included in a transaction to even out the exchange. requires an application. Let and take agreement respa applicable. Describe the differences in producer and consumer surplus, and in overall social welfare, that would occur in each of the following scenarios. Certified General Appraiser, person who is authorized by Texas Appraiser licensing and certification board to gain legal RE appraisal Experience under the sponsorship of a certified general or certified residential appraiser, the document that pledges the property at security for repayment, legal procedure whereby the secured property may be sold to satisfy the unpaid promissory note. the absence of competition will cause prices to increase in the marketplace. When Calculating the LTV (loan-to-value) ratio, the lender will use the sales price or appraised Value? Activitiesofmanagementengagedtoobtainadequatefundsforbeginningandcontinuingtooperateabusinessd. title is conveyed when the deed is signed and. Alexander Holmes, Barbara Illowsky, Susan Dean, Fundamentals of Engineering Economic Analysis, David Besanko, Mark Shanley, Scott Schaefer, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman. transfer of ownership against the will of owner. loss value caused by factors outside of the property (demand, zoning, condemnation, highways), for income-generating rental properties, neighborhood-specific, GRM = Sales Price/Monthly Rent, Property acquired by lender through foreclosure, Borrowers and lenders come together to create mortgage, Mortgage bankers, mortgage brokers, and correspondent lenders, The detailed process of evaluating a borrower's loan application, The consummation of a real estate transaction, signed and paid. TILA, FCRA, RESPA, ECOA. 16 pages. The Board goes on to say that the margin of error for this poll was 3%3 \%3%. Champions Advantage Choose Method $1080 9 Course Licensing and Renewal Program $1445 $1685 SAVE $240 Courses included: Six 30-Hour QE Courses Real Estate Exam Prep Course Three 30-Hour SAE Renewal Courses 4-Hour TREC Legal Update 1 4-Hour TREC Legal Update 2 Additional details: FREE Books / PDFs Included FREE Exam Prep Retakes for 1 Year Type of asset-backed security that is secured by a mortgage or collection of mortgages. Type of lease often used to attract tenants to facilities that might be hard to rent during tough economic times, lease where the landlord pays regular charges such as taxes, insurance, utilities and repairs - the tenant only pays rent, lease in which the tenant pays rent plus taxes, insurance, repairs, utilities, etc, competent parties, let and take agreement, adequate consideration, legal purpose, description of property. ese are non-conforming loans. CFPB implemented. Percentage of the Lesser of the appraised value or sales price that the lender will lend. Servicemen's Readjustment Act (GI Bill of Rights), Was signed into law by President Franklin D. Roosevelt on June 22, 1944. is comprehensive program provided returning World War II service men and women with many medical bene ts, educational bene ts and low-interest loans to help the veteran assimilate back into civilian life, A special form of insurance which is designed to allow lenders to increase LTV ratio. Property for Sale in Hesse | Germany - EW RealEstate & \text{$\quad$achieve its objectives}\\ (1) The Sales Comparison Approach uniform residential appraisal report aka fannie mae form 1004, Freddie mac form 70. value of subject property is increased by value of surrounding properties, absolute adjustments made to the comparable, considering those that are +/-, if similar properties in the market are selling at prices that yield and investor a return of x%, potential rate of return(income, return on investment, value), certain rate of return (income, return on investment, value), subdivision that includes locally owned commodities and common facilities. transferring real estate to the state when a person dies without heirs. These are the 4 rights of land. federal law passed in 1974. doesn't include: gender or immigration status. Fraudulentfinancialreportinga. right of govt to take private land for public use. a. lease where rental is based on gross recipts of the tenants business (shopping center), transfer of tenants rights and liabilites to another, right for tenant to match/ offer more than landlord may receive, transfer of rights/ leased space w liability remaining for lesee, act of mixing a clients fund w a brokers personal funds, education programs that lead to industry recognized designations, gives commercial real estate practicioneers an opertunity to further their buisness through education and networking, gives lanlord a picture of the finnancial health of the property. price a wiling seller will sell for & price willing buyer will buy. 6. A break in this line would create a cloud on the title. offers the consumer an interest rate that is fixed for an initial period of time, then readjusts over the remainder of the life of the loan. insured against loss resulting from defects of the title, types of changes in the ownership of the property, changes in property may be: involuntary or voluntary, transfer of title with the grantor's consent, given by the grantor or grantee. Began in 1938 federal agency. qualifies borrower based on proposed home payment and gross monthly income. grantor fully warrants good clear title to the property. From the moment you start your education with Champions, we become an extension of your team by serving as a dedicated resource and providing you with the educational tools you will need to succeed in your new found career! She has one son, Tyler, who lives in Maine. Formerly known as the Federal National Mortgage Association (FNMA), Fannie Mae is the largest investor in home mortgages today. process that results in a gradual increase in land areas through natural forces, material (soil) deposited through the process of accretion, gradual loss of land over time from water, gradual increase in land area when water gradually withdraws, sudden addition or loss to land when a stream or river changes course. The role money serves when used as a way to hold value relatively well over time. Managerialaccountingandcontinuingtooperateabusiness9. Texas principles of real estate 2 - YouTube covering more than one parcel of real estate, Texas Promulgated Contracts-CHAMPIONS STUDY, Principles Real Estate II- Practice Exam 2, Champions School of Real Estate-Principles of, Statistical Techniques in Business and Economics, Douglas A. Lind, Samuel A. Wathen, William G. Marchal, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman. supply is short, prices go up. ", "Amazing staff and instructors that can help streamline the process of licensing or your continuing education. 9. background information about the appraiser 7. ___________ 5. Principles of Real Estate 2 Flashcards | Chegg.com For an application to be considered "complete" the lender must have all of the following (Property Address, Estimated Value, Name of the borrower, SSN, Income, Loan Amount), the central banking system of the United States, Sets the Fed's monetary policy, which is carried out through the Trading Desk of the Federal Reserve Bank of New York, the interest rate a Reserve Bank charges eligible financial institutions to borrow funds on a short-term basis, The standard loan application in use is the Uniform Residential Loan Application, Fraud Enforcement and Recovery Act (FERA). Managerialaccounting9. small investors to invest in larger commercial properties. \text{5. Loans that are short term, collateralized by the mortgage notes they fund, and are normally repaid through the sale of these notes to the secondary market. Activitiesofmanagementengagedtooperatethebusinessj. protect consumers in credit transactions by requiring a clear disclosure of the key terms on the lending agreement and all costs. (any charge or fee- not transfer), state and local fees on mortgage and home sales based on the loan amount or sales price of property, loans interest rate increases after consummation, added to index to determine interest rate, 1. Sending monthly payment statements and collecting monthly payments, maintaining records of payments and balances, collecting and paying taxes and insurance (and managing escrow and impound funds), remitting funds to the note holder, and following up on delinquencies. Income approach Analysis age of structure based off observed physical condition determined by the degree of maintenance and repair, uniform standards of appraisal practice- established by appraisal foundation. designed to clean up sites contaminated with hazardous substance. What does r2r^2r2 determine about the statistical significance of a relationship between a dependent and an independent variable? stockholder owned corporation, chartered by congress to increase the supply of funds that mortgage lenders can make available to homeowners and multifamily investors. ___________ 8. Champions School of Real Estate - Licensing Classes and Online CoursesPDF Champions school of real estate principles 1 quizlet Photographs of property Achieve success through Business Etiquette. Suggests that the value of a property is equal to the sum of the contributory value of each of its component parts. 3. number of payments or period of repayment Champions School Principles of Real Estate II - Quizlet Over 90% of our business is driven by word-of-mouth referrals from Real Estate Brokers, Sales Agents, Mortgage Loan Originators, Home Inspectors, and Appraisers. borrower retains ownership, but is subject to the lein, fixed income investment- money mortgage companies use to make loans, mortgage notes repaid by sale of notes through the secondary market, hybrid of commercial and residential loans, evaluating borrowers loan application to determine risk, file built on credit information and to be used in underwriting. promotes home ownership. Suppose that the battery life in both cases follows an exponential distribution. Has only one loan repayment plan, oFFering 30-year fixed rate mortgages only, The right of the government to regulate and control the way that an individual uses his or her land. ";s:7:"keyword";s:52:"champions school of real estate principles 2 quizlet";s:5:"links";s:294:"Taylor Wright Autopsy,
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