Agency
In Alabama, a seller's agent may disclose which of the following about the seller to a buyer?
AThe seller's minimum acceptable price
BMaterial facts about the property condition known to the agent✓ Correct
CThe seller's motivation for selling
DThe seller's financial difficulties
Explanation
A seller's agent must disclose known material facts about the property condition to buyers but must keep the seller's confidential information (motivation, minimum price, financial status) private.
Related Alabama Agency Questions
- A salesperson signs a listing agreement on behalf of their qualifying broker. Who is the actual listing agent (the seller's agent)?
- Which of the following situations would create an implied agency in Alabama?
- Apparent authority of an agent arises when:
- A buyer's agent in Alabama owes which duty to the seller?
- Which of the following is an example of a licensee's duty of 'diligence' to their client?
- In Alabama, which type of agency relationship is created when a broker represents both buyer and seller with written consent?
- An Alabama listing agent discovers a material defect in the property. The seller instructs the agent to keep this secret. The agent should:
- The duty of 'accounting' in a fiduciary relationship requires an agent to:
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