Maryland License Law
A Maryland licensee who fails to disclose a material fact about a property may be disciplined by MREC. A 'material fact' is one that:
AAffects only cosmetic aspects of the property
BCould affect a reasonable person's decision to buy, sell, or lease the property✓ Correct
CMust involve a structural defect
DIs only relevant if it exceeds $10,000 in repair cost
Explanation
A material fact is any information that could affect a reasonable person's decision to enter into a real estate transaction, including physical conditions, legal issues, and other significant factors.
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