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Real Estate Economics
Ch 1 The Real Estate Business
Terms in this set (12)
A practice that concentrate on one type or style of property or on one particular neighborhood.
What are 3 properties of expertise?
* Comparative Market
Value estimate based on recent sales of similar properties in the same neighborhood. Frequently called CMA, utilizes the concepts used in appraisal. MAY NOT BE REFERRED TO AS AN APPRAISAL.
In Residential/Rental sales, properties that have buildings on the land are referred to as _______. Where if there are no building and the land is vacant is referred to as _______.
What does is the "value of business" referred to as and what does it include?
"Going concern value" includes its income, tangible and intangible assets and goodwilll, in addition to the value of the real property. (combined asset)
-if the sale of a business involves the transfer of ownership of shares of stock, a real estate license would be required to have securities license also.
*Owners who buy income property as investments and depend on professionals to manage them are called
*Appraisals used in a federally related transaction must be prepared in compliance with ________ by appraisers registered , __________, or___________ under part II of the F.S 475 which is administered by the FREAB
USPAP; licensed/ certified
What is a federally related transaction?
Is one in which a loan is made by a federally regulated lending institution that uses real property.
Mortgage loan originators/brokers
Are individuals or businesses that arrange loans between lenders and borrowers; although they do not make loans, they MUST have a separate license issued by the FDFS.
*The ownership of streets and sidewalks is typically conveyed by a developer to the city or county upon completion of construction of a subdivision . This transfer of ownership is referred to as _________ and it gives the public the right of use.
When a developer acquires a large tract of land, records a subdivision plat map , and uses a model (home) center from which sales are made.
At _______ _______, planning and zoning, property taxation, building and health codes and regulations and building moratoriums that affect development , play a significant role in the cost and desirability of real estate.
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OTHER SETS BY THIS CREATOR
CH 7 Federal & State Laws Pertaining to Rea Estate
CH 4 Authorized Relationships: Duties/Disclosures
Ch 6 Violations of Licensure Law: Penalties/Proced…
CH 3 Real Estate Lic Law / Comm Rules