Agency
In Idaho, a 'seller's disclosure obligation' exists even when the property is listed 'as is' because:
AAll information must always be disclosed regardless
BThe Idaho Seller Property Disclosure Act requires disclosure of known material defects regardless of 'as is' language✓ Correct
CThe MLS requires full disclosure
DFederal law requires disclosure of all defects
Explanation
Even with an 'as is' listing, Idaho's Seller Property Disclosure Act requires the seller to disclose known material defects on the disclosure form. 'As is' limits the seller's warranty obligations but does not eliminate disclosure requirements.
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Key Terms to Know
Agency
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.
State-Specific Concepts
Disclosure Requirements
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