Under Colorado law, a broker's duty to disclose material facts continues until:
Why B. Closing — material facts discovered at any point before closing must be disclosed Is Correct
Answer B: B. Closing — material facts discovered at any point before closing must be disclosed
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.
People Also Study
Related Colorado Questions
- In Colorado, a broker's obligation to 'disclose all known material facts' applies to:Agency
- A Colorado listing broker discovers a material defect after the listing agreement is signed. Under the seller's agency, the broker's duty is to:Agency
- A Colorado broker who fails to disclose a known material fact about the property has potentially breached which duty?Agency
- The Colorado Real Estate Commission's 'Obligation to Mediate' provision in the Contract to Buy and Sell requires parties to:Contracts
- In Colorado, an agent's 'duty of disclosure' requires disclosing all material facts to:Agency
- In the Colorado Contract to Buy and Sell, the 'closing date' refers to:Contracts
- Under the Colorado Contract to Buy and Sell, which party typically pays the closing costs associated with the buyer's new loan?Contracts
- Under the Colorado Contract to Buy and Sell, a buyer's 'closing cost' objection typically covers:Contracts
Key Terms to Know
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.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Math Concepts
Study This Topic
Practice More Colorado Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free Colorado Quiz →