License Examination
Definition of "License examination"
Formal written examination given in every state to those people being the age of majority and qualifying to be a real estate salesperson or broker. The examination can consist of multiple choice, fill-in, or essay questions on general matters concerning the real estate law, practices, and profession as well as mathematics and general logic. Upon successfully passing the examination, the individual will receive a real estate salesperson or brokers license depending on the type of examination taken and the applicant's qualifications.
Popular Real Estate Terms
To sign and deliver an instrument, such as a deed. Conducting a transaction such as the purchase or sale of a real estate. ...
Architectural plan which may include blue prints of a property project. Designs must meet technological and zoning requirements. ...
Certification granted by the Realtors National Marketing Institute, which is affiliated with the National Association of Realtors. ...
Amount by which the appraised value of property exceeds the debt balance. If property has a fair market value of $ 250,000 while the mortgage balance is $110,000, the owner's equity in the ...
Negative characteristics about real property which do not meet the needs of the usual occupant. Examples are inadequate lighting in the rooms and a one-car garage when a two-car garage is ...
Nature and ability of soil and other materials to withstand weight of a structure. ...
Refurbishing or rebuilding a property, such as a house, back to its original or earlier condition. ...
Claim made by a federal or local government agency against a taxpayer's property for delinquent or overdue taxes. The tax lien is effected through tax assessment, demand, and failure to ...
Style of architecture popular during the American Colonial Period. The 2-story house is square or rectangular. The steep gable roof extends down to the first floor in the rear. ...
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