Agency
A Maine seller's agent discovers a material defect in the property during a showing. Their duty is to:
AConceal the defect to protect the seller's interests
BDisclose the defect to all prospective buyers✓ Correct
COnly disclose if directly asked
DRefer buyers to a home inspector without mentioning the defect
Explanation
Even when representing the seller, a Maine agent has a duty to disclose known material defects to prospective buyers. Concealing material defects is a violation of Maine license law and could constitute fraud.
Related Maine Agency Questions
- Under Maine law, a real estate agent 'facilitating' a transaction (as a transaction broker) is different from a 'dual agent' primarily because:
- Under Maine's agency disclosure requirements, a listing agent who works with a buyer must clarify their agency relationship because:
- In Maine, a buyer's agent must present all offers the buyer wishes to make, even if the agent believes the offer is not competitive. This reflects the duty of:
- Maine real estate law requires 'prompt' presentation of offers. 'Prompt' in this context generally means:
- In Maine, a seller who lists their home with a broker retains the right to accept or reject any offer. This means the broker:
- In Maine, a buyer's agent who discloses the buyer's financial capacity to the listing agent without authorization has breached which duty?
- Maine's disclosure requirements state that the Consumer Information Statement must be provided 'at the first substantive contact.' What constitutes 'substantive contact'?
- Under Maine's disclosure requirements, when two agents in the same brokerage represent buyer and seller respectively under a designated agency arrangement, what does the broker's role become?
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