Lesson 10 Real estate Mathematics Flashcards

1
Q

Front foot

A

Refers to the length of a Parcel facing the street

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2
Q

Hectare

A

Equal to 10,000 m² (square meters)

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3
Q

How many square feet are in 1 acre?

A

43,560 ft.² (square feet)

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4
Q

How many acres are in 1 square mile

A

640 acres

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5
Q

How many square meters are in 1 hectare? (Acres)

A

10,999 sq feet or 2.47 acres

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6
Q

Gross income

A

Total income from property for any expenses are deducted

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7
Q

Net income

A

The result of subtracting expenses from income

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8
Q

True or false

The bank will only lend money up to a certain % of the purchase price or appraised value, whichever is less

A

TRUE

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9
Q

Point

1 point on $100,000 =

A

Equals to 1% of a loan amount

$1,000

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10
Q

Principal

A

A sum of money which is lent or invested on which interest is paid

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11
Q

Interest

A

A fee paid by the borrower of the loan as a form of compensation for the use of money

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12
Q

Acre

A

A measure of land equaling 43,560 square feet.

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13
Q

Commission

A

sum due a real estate broker for services in that capacity.

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14
Q

Front foot

A

Refers to the link of a parcel facing the street

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15
Q

Real property tax rate

A

The tax levy divided by the total taxable assessed value of a taxing jurisdiction, usually expressed in dollars per thousand, dollars per hundred, or mills.

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16
Q

Acre

A

A measure of land equaling 43,560 ft.² (square feet)