Agency
An Alaska agent who represents the buyer in a transaction is obligated to tell the buyer if the seller is under financial distress because:
AIt gives the buyer information to make a lower offer unfairly
BFinancial distress of the seller may be a material fact relevant to the buyer's negotiating strategy✓ Correct
CThe buyer has no right to know the seller's financial condition
DFinancial information is confidential and cannot be disclosed
Explanation
Information about the seller's financial distress — such as a pending foreclosure, divorce, or job loss motivating a quick sale — may be material information that helps the buyer negotiate effectively. An agent representing the buyer should disclose such information if it is relevant and available.
Related Alaska Agency Questions
- A buyer's agent in Alaska who shows the buyer a property listed by the same brokerage should:
- An Alaska listing agent learns from the seller that the well occasionally runs dry in summer. The agent must:
- In Alaska, a seller's agent owes which of the following duties to an unrepresented buyer?
- In an Alaska real estate transaction, the listing broker's subagent cooperating broker represents:
- When a seller's broker represents the seller and the buyer is unrepresented, the broker owes the buyer:
- In Alaska, an agent who has 'apparent authority' is acting on authority that:
- The duty of 'loyalty' in an Alaska agency relationship means the agent must:
- When does an Alaska buyer's agency agreement typically terminate?
Practice More Alaska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Alaska Quiz →