Champions School of Real Estate

Champions School Of Real Estate Finance 2024 Tested And Verified Seller's market - CORRECT ANSWER-When supply is low and demand is high Buyer's market - CORRECT ANSWER-When supply is high and demand is low The process of creating a new mortgage loan - CORRECT ANSWER-Origination The detailed process of evaluating a borrower's loan application to determine the risk involved for the lender - CORRECT ANSWER-Underwriting When there is an excess of money supply in the market - CORRECT ANSWER...

Champions School Of Real Estate – FINANCE Exam || Complete Questions & Answers (Graded A+) Champions School Of Real Estate – FINANCE Exam || Complete Questions & Answers (Graded A+) The process of creating a new mortgage loan, including all steps taken by a lender to attract and qualify a borrower are _____. - ANSWER - Origination activities The process of evaluating a borrower's loan application to determine the risk involved for the lender is - ANSWER - Underwriting Which of the...

Champions School of Real Estate - Exam Prep Latest Update 100% Pass Buyer Representation Agreement An employment contract obligating a broker to act as a fiduciary to a buyer Implied Agency Agency as a result of customary, usual or typical conditions Broker A properly licensed party who serves a principal in an agency relationship- also called an agent Client A party represented by a broker in an agency relationship - also called a principal Duties of an Agent An agent owes his...

Champions School of Real Estate- Principles of Real Estate II Already Passed Appraisal an appraiser's opinion of value, used to determine market value property to secure the loan Loan to Value Ratio Percentage of value or sales price that a lender is willing to finance Desk Review an appraisal that simply reviews a checklist of items as they analyze the appraisal report for completeness and acceptable conclusions Field Review An independent 3rd party appraiser will be contract...

Champions School of Real Estate Marketing SAE Questions and Answers Already Passed Price The most common reason a property fails to sell is __________. Marketing Matching human needs with goods or services to meet those needs is the process of ____ agent Problem solving is a key personality trait of a successful ___ D in AIDA stand for Desire Four P's of Marketing Product, Price, Place, Promotion A-I-D-A The four psychological steps of a sale, attention, interest, desire,...

Champions School of Real Estate Exam Prep National Chapter 1 & 2 Latest Update 100% Pass Rights, privileges or improvements that belong to and pass with land. Appurtenance Man made additions to the land such as buildings and landscaping. Also known as free standing Improvements Right or interest in something that is temporary or movable by nature. Also known as chattel or personalty. Personal Property Ownership is transferred by... Bill of Sale When personal property is incl...

Champions School of Real Estate - Real Estate Finance Latest Update Rated A+ A loan unable to be sold to Fannie Mae or Freddie Mac (i.e. A sub-prime loan) Non- Conforming Loan VA Veteran's administration - assists veterans in the purchase of housing by guaranteeing loans) Seller's equity Cash price minus the loan balance A clause often found in a blanket loan allowing the borrower to obtain partial releases of specific lots by making required lump sum payments. Release Clause ...

Price CORRECT ANSWER-The most common reason a property fails to sell is __________. Marketing CORRECT ANSWER-Matching human needs with goods or services to meet those needs is the process of ____ agent CORRECT ANSWER-Problem solving is a key personality trait of a successful ___ D in AIDA stand for CORRECT ANSWER-Desire Four P's of Marketing CORRECT ANSWER-Product, Price, Place, Promotion

Sending monthly payment statements and collecting monthly payments, maintaining payment records and following up on delinquencies. - Answer-Servicing The process of creating a new mortgage loan - Answer-Origination The process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision - Answer-Loan Processing The process of transferring funds to a title or escrow company for disbursement - Answer-Funding The process o...

Champions School of Real Estate - Exam Prep Buyer Representation Agreement An employment contract obligating a broker to act as a fiduciary to a buyer Implied Agency Agency as a result of customary, usual or typical conditions Broker A properly licensed party who serves a principal in an agency relationship- also called an agent Client A party represented by a broker in an agency relationship - also called a principal Duties of an Agent An agent owes his client obedienc...