Agency
A Nebraska buyer's agent discovers the seller's property has foundation cracks not mentioned in the SPCDS. The agent should:
AIgnore it as not the buyer's agent's concern
BDisclose the observed condition to the buyer✓ Correct
COnly disclose if asked by the buyer
DTell the listing agent who will decide
Explanation
A buyer's agent has a duty to disclose all known material facts to their buyer, including observed defects. Foundation cracks are material facts that could significantly affect the property's value or the buyer's decision.
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Key Terms to Know
Buyer's Agent
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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