Real Estate Acronyms

Question 1

A BAR SALE

Answer 1

Real Estate Services - Unit 2
A Advertise real estate services

B Buy
A Appraise (non-federally related transactions)
R Rent

S Sell
A Auction
L Lease
E Exchange

Question 2

ADD

Answer 2

Three Duties Required in All Brokerage Relationships (Unit 4)
A Account for Funds
D Disclose all Material Facts
D Deal Honestly and Fairly

Question 3

CBS and CIA

Answer 3

Appraisal Adjustments (Unit 16)
C Comp
B Better
S Subtract

C Comp
I Inferior
A Add

Question 4

COLD

Answer 4

Four Unique Duties of a Single Agent (Unit 4)
C      Confidentiality
O      Obedience
L       Loyalty
D      Disclosure (Full)

Question 5

COLIC

Answer 5

Elements of a Valid and Enforceable Real Estate Sale Contract (Unit 11)
C Competent Parties
O Offer and acceptance (meeting of the minds)
L Legal purpose
I In writing and signed
C Consideration

Question 6

CPV

Answer 6

Cost to Create
Price Paid
Value or Worth (Unit 16)

Question 7

DEEP C

Answer 7

Bundle of Legal Rights (Unit 8)
D     Disposition
E      Enjoyment
E      Exclusion
P      Possession

C Control

Question 8

DELL

Answer 8

Private Restrictions (Unit 9)
D      Deed Restrictions
E       Easements
L       Leases
L       Liens

Question 9

DUST

Answer 9

Characteristics of Value (Unit 16)
D      Demand
U      Utility
S      Scarcity
T      Transferability

Question 10

FRSH CRN

Answer 10

Seven Protected Classes of the Fair Housing Act (Unit 7)
F      Familial Status
R      Race
S      Sex/Gender
H      Handicapping Status

C Color
R Religious Affiliation
N National Origin

Question 11

HOT CAN

Answer 11

Conditions for Alienation by Adverse Possession (Unit 9)
H Hostile Possession
O Open Possession
T Taxes Paid by Adverse Possessor

C Claim of Title
A Adverse possession must continue for 7 years
N Notorious and Public Possession

Question 12

IRMA

Answer 12

Legal Test for Fixtures (Unit 8)
I      Intent of Parties
R    Relationship or Agreement of the Parties
M   Method  or Degree of Attachment
A    Adaptation of the Item

Question 13

MALE

Answer 13

Four Settlement Procedures (Unit 5)
M Mediation
A Arbitration

Question 14

PET

Answer 14

Government Restrictions (Unit 9)
P Police Power
E Eminent Domain
T Taxation

Question 15

PITT

Answer 15

Four Unities of a Joint Tenancy (Unit 8)
P Possession Same rights of undivided possession
I Interest Have equal ownership interest
T Title Acquire title on the same deed
T Time Acquire their interests at the same time

Question 16

WILD CARD

Answer 16

Ways an Offer is Terminated (Unit 11)
W    Withdraw offer
I       Insanity
L      Lapse of time
D     Death

C Counteroffer
A Acceptance
R Rejection
D Destruction of property