Lesson 10 Real estate Mathematics Flashcards
Front foot
Refers to the length of a Parcel facing the street
Hectare
Equal to 10,000 m² (square meters)
How many square feet are in 1 acre?
43,560 ft.² (square feet)
How many acres are in 1 square mile
640 acres
How many square meters are in 1 hectare? (Acres)
10,999 sq feet or 2.47 acres
Gross income
Total income from property for any expenses are deducted
Net income
The result of subtracting expenses from income
True or false
The bank will only lend money up to a certain % of the purchase price or appraised value, whichever is less
TRUE
Point
1 point on $100,000 =
Equals to 1% of a loan amount
$1,000
Principal
A sum of money which is lent or invested on which interest is paid
Interest
A fee paid by the borrower of the loan as a form of compensation for the use of money
Acre
A measure of land equaling 43,560 square feet.
Commission
sum due a real estate broker for services in that capacity.
Front foot
Refers to the link of a parcel facing the street
Real property tax rate
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.
