Agency
In Colorado, a seller's agent is required to disclose to the buyer which of the following?
AThe seller's financial condition and minimum acceptable price
BThe seller's personal motivation for selling
CAdverse material facts about the property known to the broker✓ Correct
DThe seller's credit score and employment status
Explanation
Even while acting as a seller's agent, a Colorado broker must disclose adverse material facts about the property to prospective buyers. This duty cannot be waived by the seller.
Related Colorado Agency Questions
- A Colorado buyer's agent who receives a written counteroffer from the seller must:
- Under Colorado law, a buyer's agent who learns the seller is in financial distress and may accept less than asking price must:
- In Colorado, a broker has a duty to 'promptly present all offers and counteroffers.' This means:
- In Colorado, the 'procuring cause' doctrine determines which buyer's broker:
- A Colorado broker who fails to disclose a known material fact about the property has potentially breached which duty?
- In Colorado, a 'seller's agent' owes the buyer which of the following duties?
- A Colorado seller's agent is approached by a buyer who wants to make an offer on the listing. If the broker cannot refer the buyer to another broker, the broker may:
- A Colorado transaction broker who receives a written offer must:
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