A buyer's agent who learns that the property has an unresolved permit issue from an addition built without permits should:
Why Disclose this material fact to the buyer immediately Is Correct
Answer B: Disclose this material fact to the buyer immediately
Exam Tip: Agency
Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.
Key Agency Terms in This Question
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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Key Terms to Know
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
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