Industry Acronyms
What is FOR SALE BY OWNER?
"Location, Location, ________."
What is LOCATION!
This is the first step for any real estate buyer.
What is A PRE-APPROVAL?
The Purchase/Sale Price multiplied by the Commission Rate equals the _____ ___________.
What is GROSS COMMISSION?
Paragraph 11 states this must be completed at least 10, but no more than 30 days prior to closing.
What is WOOD-INFESTATION REPORT?
What is COMPARATIVE MARKET ANALYSIS?
"Buy low, _____ ______."
What is SELL HIGH?
Loyalty, Obedience, Disclosure, Confidentiality, Reasonable Care, Diligence, and Accounting.
What are FIDUCIARY DUTIES?
Divide the net operating income by the sales price to determine the ____ _____.
What is CAP RATE?
Paragraph 29 details the pre-closing walk-through to be performed within ___ days before closing.
What is 5?
!! DOUBLE JEOPARDY !!
FMV
What is FAIR MARKET VALUE?
"There's no place like _________."
What is HOME.
There are ________ feet in a square acre.
What is 43,560?
Divide the annual cash flow by the cash invested to uncover the ____ __ ____ _______.
What is CASH ON CASH RETURN?
!! DOUBLE JEOPARDY !!
Outlined in paragraph 29, an agent giving an access code to a consumer to walk through a property unaccompanied is in violation of ___________ _________.
What is UNAUTHORIZED ACCESS?
GRM
What is GROSS RENT MULTIPLIER?
"If you sleep on it, ___ ____ _____ __ __."
What is YOU WON'T SLEEP IN IT.
A lease where the tenant pays rent, real estate taxes, building insurance, and maintenance.
What is TRIPLE NET?
Divide the listing price by the gross annual rental income to get the ____ _____ ________.
What is GROSS RENT MULTIPLIER?
Paragraph 13 defines that seller must deliver this within 14 days of the closing date.
What is EVIDENCE OF TITLE?
NOI
What is NET OPERATING INCOME?
"Always be _______."
What is CLOSING.
A legal document that transfers ownership of a property from one person to another.
What is GENERAL WARRANTY DEED?
Current Loan Balance divided by Current Appraised Value equals the ____ __ ______ ______.
What is LOAN TO VALUE RATIO?
Paragraph 17
What is DEFAULT?