Under Colorado law, which of the following would NOT be considered an adverse material fact requiring disclosure?
Why The seller's preference for a quick closing Is Correct
Answer C: The seller's preference for a quick closing
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, an agent's 'duty of disclosure' requires disclosing all material facts to:Agency
- A Colorado property built before 1978 may contain which hazardous material that requires disclosure under federal law?Environmental
- The Colorado Disclosure of Environmental Hazards form requires sellers to disclose knowledge of which conditions?Environmental
- A Colorado 'buyer's settlement statement' (closing disclosure) will typically show credits to the buyer for:Escrow & Title
- When a Colorado broker learns of a material defect not listed on the Seller's Property Disclosure, the broker's obligation is to:Agency
- A Colorado lender must provide a Closing Disclosure to the borrower at least how many business days before consummation of a mortgage loan?Finance
- A Colorado broker who fails to disclose a known material fact about the property has potentially breached which duty?Agency
- In Colorado, the 'Settlement Statement' (HUD-1 or Closing Disclosure) serves what function at closing?Escrow & Title
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.
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 →