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9 Cards in this Set
- Front
- Back
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FARMING |
A sales technique that involves choosing a neighborhood where you wish to concentrate your activities, and then becoming a well-known name in that neighborhood by implementing various marketing activities |
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COLD CALLS |
A sales method that involves calling (in person or by phone) prospects, without any previous contact, to see if they are interested in your product or services |
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FOR SALE BY OWNER (FSBO) |
A property that is being sold by the owner without the help of a real estate agent |
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ONE-PARTY LISTING |
A listing agreement that is effective only for one particular buyer |
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CURB APPEAL |
The attractiveness of a property to a prospective buyer, based solely on ists external appearance |
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TRUTH IN LENDING ACT |
A federal law that requires lenders to make disclosures concerning loan costs (including the total finance charge and the annual percentage rate) to applicants for consumer loans (including any mortgage loan that will be used for personal, family, or household purposes), and that also requires certain disclosures in advertisements concerning consumer credit |
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TRIGGER TERM |
Under the Truth in Lending Act, a specific financing term that, when used in an advertisement, triggers the requirement that the annual percentage rate and other financing terms must also be disclosed in the ad |
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ANNUAL PERCENTAGE RATE (APR) |
All of the charges that a borrower will pay for the loan (including the interest, loan fee, discount points, and mortgage insurance costs), expressed as an annual percentage of the loan amount |
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PREAPPROVAL |
Formal loan approval given before the buyer has chosen a property to purchase, establishing the maximum loan amount that the lender is willing to provide |
