Aceable Agent Texas Real Estate Principles I Question And Answer 100% Correct 2023

Home Mortgage Disclosure {Ans: Federal act that requires lenders to disclose specific lending information, which HUD then uses to map lending patterns}Broker's Price Opinion (BPO) {Ans: A broker's price opinion is the process used by a hired sales agent to determine the potential selling price or estimated value of a real estate property}Comparative Market Analysis (CMA) {Ans: A report comparing the prices of sold homes that are similar to the subject property (called comparables), created by a license holder to help the seller or buyer determine the market value}Redlining {Ans: The illegal act of a lender denying mortgages in certain areas of town}Four Corners Doctrine {Ans: A legal concept stating that the court can only consider information that appears within the four corners of the documents}One to Four Family Residential Contract {Ans: the standard contract form and is used for the sale of single-family residential properties}