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67 Cards in this Set
- Front
- Back
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what are considered to be the four elements of value in appraisal? |
Demand, scarcity, utlilitie and transferability |
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In order to record a deed, it must be |
signed and acknowledged |
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How is interest paid on an amoritizzed loan? |
Paid in arrears |
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Deed restrictions and zoning regulations are used to accomplish which of the following? |
Prevent uncontrolled growth |
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When a broker acts as a property manager for an owner, the broker is considered a __________. |
Fidicuary |
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Which of the following is not a financial intermediary? |
FHA |
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When must a good faith estimate be given to the borrowor? |
Three days from loan application |
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Fine for first time violation of Fair Housing Laws? |
16,000 |
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A type of loan that enables homeowners to borrow against the equity and receive regular payments is called? |
Reverse Mortgage |
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what is a brokers duty to a third party? |
Honesty |
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A legal right that allows one party to make a payment that is actually owned by another party. |
Subrogation |
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The interations between a prospective client and a Real Estate agent that entitles the agent to a commision percentage upon the purchase of a ham b(agent caused the sale) |
Procurring cause |
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When the agent fires the seller, usually happens because of no cooperation of the seller |
Renuniciation (renounce) |
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The seller fires the agent, but must have a cause |
Revocation |
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Ostensible |
Appears as somebody is their agent (implied) |
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Touching by angle or side |
Contiguous |
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A topographic map showing the lay of the land of an area by means of a series of lines that connect points of equal elevation at set intervals depending on scale used |
Contour maps |
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Checklines - absorbed by certain townships along their north and west edges |
Correctional lines |
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A parcel touching by side only |
Abutting |
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Imaginary line that runs east and west it seperates north and south |
Baseline |
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Curviture compensation that every town has and how many |
11 fractional sections |
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Confluence Point (initial point) |
Gila and Salt River |
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Any negotiatable intrusment drawn on the account of the funds of any government angency |
Government check |
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Measurements and boundaries (gas stations, stores, landmarks) |
Metes and Bounds |
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A true North and South line |
Pricipal meridian |
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Occurs every 24 miles and contains the townships |
Quadrangle |
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Run north and south but seperate East and West |
Range Lines |
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Lot and block number |
Recorded plat |
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Plan that developed 3 new theories in land administration 1. survery before settlement 2. mathmatically designed plan to be followed by entire area 3. creation of standard land and unit |
Rectangular Survey |
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A three demensional representation of terrain |
Releif map |
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measurement of length containing 5.5 yards or 16.5 feet |
Rod |
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Exact way of describing real estate in a contract, deed, mortgage or other document that will be accepted |
legal land description |
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proceeds to the seller, fees for a title search |
Disbursments |
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The rate plus points and lender fees |
APR annual percentage Rate |
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Form of qualified endorsment relieving the maker of personal liability |
Without Recourse |
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1 acre is how many feet? |
43560 ft |
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1 mile is how many feet? |
5280 ft |
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seizure of Real or personal property by court as security for satisfaction of the deed |
attachment |
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progress payments |
draws |
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ny charge lien or liability attached to real property |
encumbrance |
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The pledge that you surrender any real or personal property as collateral |
hypothecate |
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cancellation at certain rights opon specific occurance |
defeasance |
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note that permits a larger monthly payment |
or more clause |
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earnest money, handmoney, good faith deposit - cash deposited paid by the purchaser |
binder |
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"collussion "conspiracy" two or more people conspiring fraud |
bona fide |
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to find the cap rate |
NOI divided by sales price |
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To find annual gross rent multiplier |
sales price divided by annual gross income |
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fractional portion= |
total amount paid/360 times days used/1
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1 mile is how many rods? |
320 rods |
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1 sq foot is how many inches? |
144 sc inches |
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1 acre is how many rods? |
160 rods |
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area of a triangle |
length x width divided by two |
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residential economic life? |
27.5 years |
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commercial economic life? |
39 years |
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annual depreciation = |
investment valire divided by econmoic life |
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pricibal= |
interest divided by rate |
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capital gains= |
adjusted sales price - adjusted basis price |
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Adjusted basis price= |
basis (purchase price) + aquisition costs+improvements - depreciation |
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Adjusted sales price |
sales price - commision - clossing costs = the adjusted sales price |
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A roof that consists of two sloping planes that meet at the ridge or peak |
Gable roof |
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roof that has support on all four sides |
hip roof |
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concrete spreading at the foundation base |
footing |
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two diferent slopes. one slop angled flatter and the other slope is steeper |
Gambrel roofing |
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one beam in a series of parallel beams that support the ceiling and foundation |
joist |
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metal pipe that houses electrical wiring |
conduit |
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a wall supporting any load in a verticle plane includng its own wiehgt |
bearing wall |
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highest structlal point |
ridge board |
