Contracts
In Delaware, what is the seller's obligation under the Seller Disclosure of Real Property Condition Act if they become aware of a new material defect after the initial disclosure is made?
AThe seller has no obligation to update the disclosure after it is signed
BThe seller must update the disclosure form and provide it to the buyer before closing✓ Correct
CThe seller must notify only their listing agent
DThe seller must reduce the price equal to the cost of the defect
Explanation
If the seller becomes aware of a new material defect after the initial disclosure, they must update and re-provide the disclosure form to the buyer. The buyer then has the right to rescind the contract within a specified period.
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