Question: Question 1 & Explain Answer Please A developer has a 25-acre tract to be developed. Five percent of the land will be used for a

Question 1 & Explain Answer Please

A developer has a 25-acre tract to be developed. Five percent of the land will be used for a park and 15% will be used for the streets. Half-acre lots are selling for $19,500. What is the potential gross income from sale of this development?

A - $780.000 B - $819,000 C - $975,000 D - $1,560,000

Question 2

The buyer and seller have agreed to a credit in the amount of $12,000 for repairs after a physical inspection. The lender explains that this is too high a credit for the bank to accept. If the buyer and seller agree to the credit outside of the escrow, what kind of contract would be created?

A - illegal B - unenforceable C - void D - voidable

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