Champions School of Real Estate Study guides, Class notes & Summaries

Texas Promulgated Contracts-CHAMPIONS STUDY 2024 with Correct Solutions The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording - Answer -B A(n) __________________ contract is defined as a contract that is binding on the parties, with one or more of the parties having contractual duties that have not yet been performed. (a) Executory (b) Executed (c) ...

Texas Real Estate Principles 1 2024 Exam with Correct Solutions Civil Rights Acts of 1866 - Answer -Prohibits only and all racial discrimination Steering - Answer -Directing Home Seekers to particular neighborhoods based on the the fair housing protected classes Blockbusting - Answer -Real estate agents creating fear in a neighborhood in order to induce the owner of the houses to sell the properties at a loss to the agents Equal Credit Opportunity Act of 1974 - Answer -Prohibits discrimin...

Principles Of Real Estate 1 Exam - Champions School Of Real Estate With Correct Solutions 2024 a freeway has made commuting to a distant suburban neighborhood easier, resulting in an increase in new home sales. This increase in sales is an example of the economic characteristic of A.) scarcity B.) Fixity C.) Situs D.) Modification - Answer -D.) Modification The supply of Real Estate is affected by A.) Land cost B.) Building codes C.) Government regulations D.) All of these - Answer -...

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Champions Real Estate Finance Study Guide Exam Final 2024 Congress created the Federal Housing Administration in - CORRECT ANSWER-1934 In order to qualify for exemption from capital gains, the property must have been the primary residence for two of the previous ___ years - CORRECT ANSWER-5 years A loan with no discount points is known as a - CORRECT ANSWER-Par loan What is Fiat money - CORRECT ANSWER-Currency that is not backed up by any precious metals At the treasury level, funds c...

Champions School Of Real Estate ( Real Estate Finance) 2024 Tested A loan unable to be sold to Fannie Mae or Freddie Mac (i.e. A sub-prime loan) - CORRECT ANSWER-Non-Conforming Loan VA - CORRECT ANSWER-Veteran's administration - assists veterans in the purchase of housing by guaranteeing loans) Seller's equity - CORRECT ANSWER-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 ...

Real Estate Finance 1 - Texas, Champions School Of Real Estate – Finance 2024 Latest Loan Processing - CORRECT ANSWER-The process of collecting information about a borrower in order to build a loan file that will be used to make an underwriting decision. Underwriting - CORRECT ANSWER-The process of evaluating a borrowers loan application to determine the risk involved for the lender. Funding - CORRECT ANSWER-The process of transferring funds to a title or escrow company for disburs...