Environmental
A Nebraska real estate agent listing a home that was previously used as a methamphetamine laboratory has what duty?
ANo duty — only the seller must disclose
BA duty to disclose the known prior use as a material fact affecting the property's value and safety✓ Correct
CA duty only if the buyer specifically asks about drug use
DA duty only if the property is in a school zone
Explanation
A former meth lab is a serious material defect — residue can persist and pose health risks. The agent must disclose this known condition to buyers.
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Key Terms to Know
Capitalization Rate (Cap Rate)
A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
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