Real Estate

What is Zoning?

• Re-lining maps

• Renovations for properties

• Local government use and development of property

• Federal changes to city maps

Who regulates zoning?

• The President

• The People

• The Property Owners

• State and local governments

Why is zoning important in property development?

• Tells us where to live

• Tells us how land can be used for building homes, shops, offices

• Tells us where the best food is

• Tells us where the most crime is

How do zoning rules affect property plans?

• Zoning rules determine the color of the property's exterior paint.

• They dictate the number of pets allowed on the property.

• They decide what can be built on a property like houses or businesses.

• They mandate the height of the property's grass.

The location of a home is important because:

• A good location will make the home easier to sell.

• Homes in good locations will usually appreciate (increase) in value.

• Not all locations have good school systems or the same amenities.

• All of the above.

Buying a home includes:

• Choosing a home

• Signing a contract

• Securing a down payment

• Financing a home

• All of the above

The common disadvantage of buying a home is

• fewer financial benefits

• limited mobility

• restrictions on decorating and having pets

• conditions in the lease

Why is property condition important for its value?

• The condition of a property affects its price and future costs.

• Because it determines the color of the walls.

• To ensure that the property doesn't attract too many birds.

• To prevent potential buyers from feeling sad.

Why is an environmental site assessment necessary?

• To determine if the property is suitable for hosting large outdoor events.

• Because it's a requirement for obtaining tax breaks on the property.

• It checks for environmental risks like pollution before buying a property.

• To ensure the property has enough natural sunlight for optimal plant growth.

A document that proves ownership of property.

• Escrow

• Title

• Deed

• Easement