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10 Cards in this Set

  • Front
  • Back
A commercial acre is best defined as ?
An acre AFTER deductions for streets and alleys
An income property showed a value of $800,000 when capatalized at a rate of 9%. A new investor wishing to purchase the same property engaged an appraiser who use a cap rate of 12%. According to the appraiser, the value would be?
Rate X Value= /net operating income
.09 X $800,000
.09 X $800,000 = $72,000
.12 X ????? = $72,000
.12/$72,000 = $600,000
What decides the amount of commission received from the sale of property of a deceased person?
Court order
A one acre parcel is divided into four equal rectangular lots parallel to eachother and each 240 feet in depth. What is the approximate width of each lot?
width X length = /Area

???? X 240' = /43,560 sq. feet (one acre)
240/43,560= 181.5
4/181.5= 45.4 ft. per lot
Market price is ?
The price actually paid for the property
Functional obsolescence is a decrease in value due to..
being outdatesd
A tenant who transfers an entire leasehold interest does so by?
A structural pest report must be delivered to the?
Under what circumstances may a broker fill out the seller's Real Estate Transfer Disclosure Statement?
Never, it must be completed by the seller
The remedy of unlawful detainer is most commonly used by the offended....
Lessors. The unlawful detainer is designed by law which the lessor can have the tenant evicted