Idaho Real Estate Practice Exam

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Study for the Idaho Real Estate Exam. Prepare with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

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What is the status of the final sales price of a property in terms of confidentiality?

It is fully confidential
It can be disclosed publicly
It is not confidential
It is semi-confidential

The correct answer is: It is not confidential

The final sales price of a property is considered not confidential because, in many jurisdictions, this information becomes part of the public record once the sale is completed. This typically occurs when the transaction is recorded with a government entity, such as a county recorder's office, which maintains the official records of real estate transactions. Additionally, real estate professionals often share sales prices in market analyses and reports to help gauge current market conditions. Since the information is accessible to the public, either through official records or through real estate market data, it does not qualify as confidential. Understanding this allows real estate professionals and buyers to navigate the market with a clearer picture of property values and trends.