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18 Cards in this Set
- Front
- Back
Meridians and base lines relate to the |
Rectangular (government survey) survey method |
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Meridians and baselines are measured by |
dividing the land into a series of grids |
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Lot and block method |
Subdivisions plat maps |
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metes and bonds method |
monuments, point of beginning |
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Fixture tests to determine if it is real or personal property |
MARIA- method of attachment, adaptation, relationship of the parties, intention of the annexor, |
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Broker Price Opinion |
May be used when owner is refinancing or to determine the value of property for a short sale |
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Conditional use permit |
used to build on property for benefit of public |
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non-conforming use |
used when property is already zoned residential and commercial property is bought and built in same area |
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Cost Approach formula |
Replacement cost - Depreciation + Land= Value |
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When a comparable property has inferior amenities. The comparable property is adjusted |
UP |
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When a comparable property has superiour improvement or addition the comparable property is adjusted |
Down |
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Comparative Market analysis |
Agent determines competitive price for property |
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Cost approach used for what types of properties |
Churches, Libraries, New Construction |
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Market data approach used for what types of properties |
Generally single family homes use this type of approach |
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Datum |
point, line, or surface from which elevations are messured |
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Devise |
The act of giving real estate through a will and the party receiving real property through a will |
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Open Market |
Buy doesnt have to buy, seller doesnt have to sell |
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Annual Net Operating Income |
PGI - VR+ Additional Income - Exspences = Annual Net Operating/Cap Rate=Value |