Contracts
The Maryland Residential Property Disclosure and Disclaimer Statement requires sellers to:
AWarrant the physical condition of the property
BDisclose known material defects or choose to make no representations✓ Correct
CHire a licensed home inspector before listing
DProvide the buyer with a 10-year structural warranty
Explanation
Maryland's Residential Property Disclosure requires sellers of residential property to either disclose known material defects or choose the 'disclaimer' option, where they make no representations about the property's condition.
People Also Study
Related Maryland Questions
- When a Maryland seller selects the 'disclaimer' option on the Residential Property Disclosure form, the buyer:Contracts
- Maryland requires sellers of residential property near a military installation to disclose:Environmental (alternative)
- Maryland sellers must disclose which of the following conditions on the Residential Property Disclosure form?Environmental (alternative)
- Maryland requires disclosure of known flooding issues on the Residential Property Disclosure form. Properties with a history of flooding are required to disclose because:Environmental (alternative)
- Maryland requires real estate licensees to provide buyers with a mandatory disclosure form. Which of the following is the primary disclosure document used in most Maryland residential transactions?Maryland License Law
- In Maryland, the Maryland Residential Property Disclosure and Disclaimer Statement must be provided to buyers of residential property:Contracts
- Maryland requires disclosure of lead paint for pre-1950 rental properties. For pre-1978 properties being sold, sellers must:Environmental
- In Maryland, a seller who misrepresents a material fact in the Residential Property Disclosure may face:Contracts
Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
State-Specific Concepts
Disclosure Requirements
Study This Topic
Practice More Maryland Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maryland Quiz →