Physical deterioration is the loss of value that comes from the wear and tear that buildings go through as they age. Floods, earthquakes, fire, UV rays, wind, etc. can cause physical damage.
Asbestos, Radon, and Urea Formaldehyde are all dangerous to the environment.
Landlords and tenants enter into leases when one party agrees to let the other occupy property for a certain period of time in exchange for regular payments. A lease is a type of transfer because it gives someone the right to live in a property but doesn't give them ownership.
112 x 600 = $67,200 (value of the property)
Required is a competent grantor.
Divide the net operating income by the capitalization rate.
Because it's odorless and colorless, CO is hard to smell.
A general lien covers all of a debtor's real and personal possessions, unlike a specialized lien.
A company's right to utilize another's land is an easement in gross.
The seller agrees to collect the buyer's payments directly from the lender.
Mortgage discount points are calculated as a percentage of the amount borrowed. To reduce the interest rate by one eighth of a percent or one quarter of a percent, you can pay one point, or one percent of the loan amount. Depending on how many points a borrower pays, the lender will offer different rates and payment plans.
This refers to the average rent paid in the neighborhood, as well as the prices charged by competing property owners. The size, type, and location of the property also affect how much the rent is.
Mortgage financing trigger phrases are required under the Truth in Lending Act.
Fee simple or fee simple absolute estate is the highest interest in real estate that the law recognizes.
The terms and conditions, including principle and interest, must be clearly put down in writing in order for the purchase money mortgage to be upheld.
157,000 X 6% = 9420
9420 / 10% = 942 (listing booker's commission)
