Contracts
A Connecticut real estate agent acting as a dual agent cannot do which of the following?
APresent all offers to the seller
BDisclose material defects of the property to the buyer
CNegotiate price aggressively on behalf of both parties simultaneously✓ Correct
DAssist both parties with paperwork
Explanation
A dual agent cannot provide undivided loyalty to either party or negotiate aggressively on behalf of one party against the other. Dual agents provide limited representation and must be neutral on price and terms.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Math Concepts
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