Real Estate Questions

a. What is the report done for environmental due diligence, and what are the four components of the report?

b. What does REC stand for? Identify one.

c. What is the difference between a brownfield and a greenfield site?

d. If there is environmental contamination identified at a site, who is liable for clean-up?

e. Buyers, lenders, and sellers all have environmental concerns when transacting real estate. Name one for each.

f. What items do title insurance insure? Name three.

g. For what time period does title insurance insure your property, and for how long does the policy last?

h. How much does the lenders title policy insure? How about the owners policy?

i. What is an encumbrance? Name two

j. What document would you or a title company use to identify easements, encroachments, etc?