admin

Binder deposit shows up as what on closing statement? – ANSWER-Credit to buyerWhich of the following is true about leverage? – ANSWER-Leverage is the use ofborrowed funds to purchase assets.Which of the following liens would take priority? – ANSWER-A property tax lienIn which of the following theories of mortgage lending does the borrower not retainownership […]

mortgage Broker – Answer- Functions as a middleman between the borrower and thelender, negotiating, selling or arranging loans to be delivered to large investorsMortgage Banker – Answer- Provide their own funds for the purpose of providingmortgage financingCorrespondent Lender – Answer- Smaller in scale then mortgage bankers or brokers,these lenders typically extended loans with their own

Farming – Answer licensee concentrate on one type or style of property or on oneparticular neighborhoodFarm area or target market – Answer Finding and specializing in a particularneighborhood or type of property. Considered to be one of the best ways to succeedin the real estate businessTract building – Answer When a developer acquires a large

The best protection that the public has during a Real Estate transaction is (are)A. The national and state association of REALTORSB. The punishment of licensees dealing dishonestyC. the high ethical standards of real estate agentsD. FREC and the license law ✔✔D. FREC and the license lawA group licenseA. allows a broker to have a branch

A buyer purchases a rental home that is fully furnished. The document used to transfertitle to the furniture is:a. quitclaim deedb. bill of salec. special warranty deedd. general warranty deed – Answer- b. bill of saleDeeds transfer title to real estate, a bill of sale is generally needed to transfer title topersonal property.Ben receives a

Texas Real Estate Commission – ANSWER TREC-created by the Legislature in 1949.9 member commission whose primary purpose is to carry out the provision of theLicense ActReal Estate Recovery Trust Account – ANSWER administered by TREC. the purposeof the account is to protect aggrieved individuals who suffer monetary loss due to illegalacts of license holdersunlawful practice

Search Engine Optimization (SEO) – Correct Answer-The process of maximizing thenumber of visitors to a particular website by ensuring the website appears high on thelist of results returned by a search engine.Fcebook Live – Correct Answer-Video streaming through facebook.CoStar Database – Correct Answer-Functions much like a residential MLS, connectingcommercial agents with brokerages, owners, lenders, property

Who licenses real estate inspectors? CORRECT ANSWER TRECThe role of sales agent in disclosing property condition: CORRECT ANSWER agent must refrainfrom giving an opinion of the condition of the property or the validity of any findings in thereport. Sales agents responsibility to explain the inspection process.TREC standards of practice – what properties are covered CORRECT

Abstract of Title – Answer- A condensed history or summary of all transactions affectinga particular tract of land.Acceleration clause – Answer- A condition in a real estate financing instrument givingthe lender the power to declare all sums owing lender immediately due and payableupon the happening of an event, such as sale of the property, or

Which of the following would NOT be considered Real Property?