The California Agency Disclosure law (Civil Code §2079) requires an agent to provide the Agency Disclosure form to buyers and sellers at what point in the transaction?
Why As soon as practicable before executing any purchase agreement Is Correct
Answer B: As soon as practicable before executing any purchase agreement
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 legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
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- In California, which form is used to disclose the agency relationship to buyers and sellers?Agency
- In California, what is the maximum number of days a buyer's agent must provide the buyer with the Agency Disclosure form?Agency
- Under the Agency Disclosure requirements of California Civil Code Section 2079, a listing agent must provide the agency disclosure form to a seller:DRE & Licensing
- Which California law requires sellers and agents to provide specific disclosures about property condition to buyers in residential transactions?Fair Housing
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Key Terms to Know
A situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
EscrowA neutral third-party arrangement where funds, documents, and instructions are held until all conditions of a real estate transaction are satisfied.
State-Specific Concepts
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