Midterm Review

Midterm Review - 17.) Fannie Mae and Freddy Mac make...

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1.) What is real estate? 2.) What terminates a contract? 3.) What happened within months that caused housing boom? 4.) Credit comes from what Latin word? 5.) Supply factors affecting real estate market? (4) 6.) Fixture or personal property? hot water heater 7.) Fixture of personal property? kitchen cabinet 8.) What’s the difference between an independent contractor and an employee? 9.) What are the 5 types of residential property? 10.) What fiduciary duties do you owe a client? 11.) Statute of Frauds requires that all contracts be in writing to be enforceable. 12.) Exceptions to licensing in the sale of real estate? 13.) Requiring customer to purchase a less desirable product or service to get… 14.) When is a commission earned? 15.) What are legal…????? 16.) What duties does real estate agent owe a customer?
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Unformatted text preview: 17.) Fannie Mae and Freddy Mac make homeowners??? 18.) What are the demand factors affecting the real estate market? 19.) What are the physical characteristics of real estate? 20.) All contracts have each of these elements, written and verbal except: 21.) Who sets the listing price of the property? 22.) Stigmatized property 23.) When a broker appoints another broker to help 24.) Most real estate agents represent the principal as 25.) Who regulates non-conforming home loans sold to buyers? 26.) List the bundle of rights associated with owning real estate. 27.) Define land. 28.) These types of loans are referred to as liar loans. 29.) What are the economic characteristics of real estate?...
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This note was uploaded on 02/02/2012 for the course BTE 231 taught by Professor Thomasgoodwin during the Fall '10 term at Miami University.

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