Tennessee Real Estate Exam Study Questions with correct answers

Lori has a greed to transact real estate business on behalf of alex with his permission. Lori is: - Answer An Agent Ownership of REAL Property for an undetermined length of time is called: - Answer Freehold Estate what info would be unethical for a listing agent to tell the potential buyer - Answer The seller is very eager for an offer because he lost his job and found a new one in a different state a subdivision has a rule that each house be at least 2,500 square feet. this is an example of which concept? - Answer Restrictive Convenant which of the following describes a transaction brokerage? - Answer The broker does not represent either party, but provides general information and services to each. How much is intangible tax on a real estate mortgage? - Answer .002 intangible tax is (.002 X TOTAL MORTGAGE) and is paid on NEW mortgage's ONLY An agency contract is being terminated. In which scenario might there be damages owed to one of the parties? - Answer The agent resigns from the contract because he is overloaded with homes to sell. ( Agents can terminate a contract ONLY for legally so