Before you can become a licensed real estate broker, you have to
serve a period of time to get
experience as well as meet other requirements. What are these
requirements and why are they
necessary.
Assume you negotiated the sale as a real estate broker and are entitled to a six percent commission. The offer and acceptance contract calls for a sales price of $230,000. The buyer has tendered $2,000 for earnest money. The buyer has received loan approval on an 80% loan to value ratio loan. The property is presently encumbered with an existing mortgage with a balance of $150,691.73. The interest on the loan has been paid through April 30, 2019. The interest...
As a real estate broker you are interested in a quantitative,
data-driven approach to setting rental prices so that you can
effectively price and lease apartment units. To aid you in this
endeavor you have sample data on recently signed residential leases
in your area, presented below. Your objective is to learn if there
is a significant relationship/pattern between the size of an
apartment and the rent charged. If there is a relationship/pattern,
we want to quantify that relationship and...
A real estate broker is offering an apartment building for sale
that has the following characteristics:
The asking price is $3.5 million with the land valued at
$500,000.
The 160 apartment units rent for $250 per month with rent
expected to increase by 4% per year starting in year 2.
Vacancy and bad debt allowance is 6% of the potential gross
income each year.
Operating expenses are expected to be 32% of effective gross
income each year.
The real estate...
Why are legal foundations important in valuing real estate?
List and briefly explain the four types of ownership estates in
use today.
List and describe the four types of leasehold estates.
List and describe the three types of easements.
In some states, including Alabama, a real estate broker is
allowed to represent both the buyer and the seller in a real estate
transaction. This is known as "dual agency." Do you see any
potential problems with this arrangement given what you have
learned about the duties of an agent to the principal? How can a
broker simultaneously get the highest offer for a seller and the
lowest price for a buyer? Your response should be between 150 and
300...