When a property in Alaska is located near an active landfill, the primary environmental concern for a real estate agent to disclose is:
Why Potential methane gas migration and groundwater contamination affecting health and property value Is Correct
Answer B: Potential methane gas migration and groundwater contamination affecting health and property value
Exam Tip: Environmental
Environmental questions test knowledge of hazards like asbestos, lead-based paint, radon, and mold. Know the disclosure requirements and when a professional inspection is required. CERCLA liability is strict, joint, and several.
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- An Alaska property is near a former dry cleaning facility. The primary hazardous substance of concern would be:Environmental
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Key Terms to Know
The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
Capitalization Rate (Cap Rate)A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
Math Concepts
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