1st Group
the use of borrowed funds to purchase assets or to finance an investment
What is Leverage?
Type of estate that gives the greatest bundle of rights.
What is fee simple absolute?
A contract that has been fully performed by all parties is.
What is Executed?
The Florida Real Estate Commission consists of
What is 7 Members?
The closing statement is prepared to show
What is Financial debits and credits?
the binder deposit shown on the Closing Disclosure Form
What is credit to the buyer only?
A broker who represents a seller owes the seller
What is Loyalty?
The amount of earnest money is determined by
What is negotiation between parties?
Commingling occurs when a broker
Deposits escrow funds into a business account
The term “testate” means a person died
With a valid will
the status of a sales associates’ license who doesn’t complete the required post licensing education prior to his/her first renewal cycle
What is null and void?
Under FL law, a sales associates real estate license is issued to
What is the employer?
The term that refers to the gradual repayment of a mortgage loan
What is amortization?
The term “consideration” in a contract refers to
Something of value exchanged
A deed used to clear title defects is commonly
What is quitclaim deed?
The amount of sections in a township
What is 36?
A metes and bounds description is most commonly used for
What is Irregular Parcels?
Property taxes in Florida are based on
What is assessed value?
A lien that is placed voluntarily on property is
What is a Mortgage Lien?
the most useful approach for single family homes
What is Sales comparison approach
allows a lender to demand full repayment of a mortgage if the property is sold or transferred without their prior written consent.
What is a due on sale clause?
Loan is insured by the federal government
What is FHA Loan?
A tenant with a leasehold estate is considered to have
What is personal property interest?
An appraiser primarily estimates.
What is Market Value?
Enforces fair housing laws