Agency (alternative)
A Maryland buyer's agent who misrepresents to a seller that their buyer has financing in place when they have not yet applied for a mortgage has:
AComplied with standard negotiating practice
BMade a fraudulent misrepresentation that exposes the agent and buyer to liability✓ Correct
CProtected the buyer's best interests
DComplied with MREC disclosure requirements
Explanation
Misrepresenting the buyer's financing status to the seller is fraudulent and can expose both the agent and the buyer to legal liability, as well as MREC disciplinary action.
Related Maryland Agency (alternative) Questions
- When a Maryland buyer's agent helps a buyer prepare a competitive offer, they are performing the agency function of:
- In Maryland, a seller who fires their listing agent before the listing expires must still pay a commission if:
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- An agency coupled with an interest in Maryland is:
- Under Maryland law, an agent must disclose material facts that affect the value or desirability of property. This duty applies to:
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- Maryland requires that the brokerage relationship disclosure be provided:
- In Maryland, the duty of a buyer's agent to 'negotiate on behalf of the buyer' means the agent should:
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