17. Real Estate Math

How many square feet are there in an acre of land?

43,560

What does 'debit' indicate at the closing table?

Party owes that amount at closing

What is the formula for calculating part when given the whole and percentage?

Part = Whole x %

In real estate, what does payment in arrears mean?

Paying after having the benefit Signup and view all the answers

What is the area formula for squares and rectangles?

Area = Length x Width Signup and view all the answers

What does 'prorate' mean in real estate math?

To allocate, distribute, or assess pro rata Signup and view all the answers

In real estate, what does 'payment in advance' mean?

Paying before receiving the benefit of the service Signup and view all the answers

What is the meaning of 'credit' at the closing table in real estate?

The party receives an amount Signup and view all the answers

What does the abbreviation 'ft.' stand for in real estate math?

Foot Signup and view all the answers

What does the abbreviation 'in.' stand for in real estate math?

Inches Signup and view all the answers

What must be included in any solicitation materials intended to be the first point of contact with consumers?

Business license number Signup and view all the answers

For online advertising, what must a broker do to ensure compliance with regulations?

Establish procedures for responding to inquiries Signup and view all the answers

In loan ads, what is prohibited without a supporting statement of fact?

Using the word 'safe' Signup and view all the answers

What must be revealed in ads for promissory notes if a different yield or return is promised?

Discount rate Signup and view all the answers

If attendance at a sales presentation is required to receive a gift, what must be done according to regulations?

Disclose the terms upfront Signup and view all the answers

Which term should not be used in loan ads without an explicit supporting statement?

'Safe' Signup and view all the answers

What is required in any solicitation material that serves as the first point of contact with potential clients?

'License ID number' Signup and view all the answers

What should be revealed if an ad for a promissory note promises a different yield than the specified rate?

'Discount' at which note is sold Signup and view all the answers

What should a broker do to ensure compliance with regulations when it comes to online advertising?

'Establish procedures' for responding to inquiries Signup and view all the answers

What is prohibited in loan ads unless supported by factual statements?

Promises of high yields on promissory notes Signup and view all the answers