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
Privilege of a real estate investor or lender to participate in the profitability generated from property. This is in addition to any principal, interest, or dividends. ...
Street having access only at one end and terminating with a circular turnaround area. The circular area permits automobiles to exit the street without having to use a home's driveway to ...
Everyone knows what is a retirement home, but if we were to give our best most concise retirement home definition it would be of something like: real estate facilities that cater to retired ...
Also know as Fannie Mae, the FNMA accept bids from approved lenders as to the amount, price and terms wish to sell Fannie Mae. Upon deciding how much money it will spend during a given time ...
See common law. ...
Lack of supply of real property. When demand exceeds supply, price of the property goes up. For example, if there are only a few homes in a town that everyone desires to reside in, the ...
Implied assurance from a landlord to a prospective tenant that an apartment is safe and void of health problems. ...
Government compensation to farmers not to grow products to preserve the land and maintain stable agricultural products. ...
Loss arising from the partial or complete destruction of property resulting from circumstances of a sudden, unanticipated or unusual nature. For example, fires, storms and floods to real ...
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