Tennessee National Portion Real Estate Exam Latest 2024 Graded A+

A buyer purchased a half-acre parcel for $2.15 per square foot. What was the selling price of the parcel? {Ans: $46,827}Value is created by the expectation that certain events will occur according to the principle of {Ans: anticipation}The deed promising only that the grantor holds title to the identified property and has not encumbered the property during the time it was held by the grantor is {Ans: the special warranty deed.}According to the U.S. General Accounting Office, brownfields plague communities and {Ans: often contribute to a decline in property values.}Expenses to be prorated (such as fuel oil in a tank) that have been prepaid by the seller but not fully used up are called {Ans: prepaid items}At closing, the earnest money left on deposit with a real estate professional is a {Ans: credit to the buyer}