Environmental
A Mississippi buyer's agent discovers during due diligence that the property is adjacent to a former gas station with underground storage tanks. The agent should:
AIgnore the finding since it is off-site
BAdvise the buyer to consult an environmental professional and disclose the finding✓ Correct
CProceed with the transaction without mentioning it
DNegotiate a lower price on the buyer's behalf and not disclose
Explanation
Adjacent contamination can significantly affect property value and financing. A buyer's agent must disclose known material facts affecting the buyer's decision and recommend professional environmental assessment.
Related Mississippi Environmental Questions
- Under the Emergency Planning and Community Right-to-Know Act (EPCRA), facilities in Mississippi that store or release certain chemicals must:
- A Mississippi real estate agent conducting a basic visual inspection of a property notices evidence of termite activity. The agent should:
- Mississippi properties adjacent to golf courses may face environmental concerns from:
- The National Flood Insurance Program (NFIP) in Mississippi provides flood insurance to property owners in:
- A Mississippi seller is aware that a leaking underground storage tank was removed from the property 10 years ago but no cleanup was performed. The seller's disclosure obligation is to:
- Radon gas in a Mississippi home is most likely to accumulate in:
- A Phase I Environmental Site Assessment (ESA) of a Mississippi property includes:
- A Mississippi seller is aware that their property's drinking water well has tested positive for arsenic above EPA limits. They must:
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →