Agency
In New Mexico, a buyer's agent who learns that a property has undisclosed structural issues from a third party should:
AKeep it confidential since it came from a third party
BDisclose the information to their buyer client so the client can investigate✓ Correct
CReport directly to the seller's agent only
DWait until inspection before mentioning it
Explanation
A buyer's agent has a duty to disclose material information to their client. Learning of potential structural issues from any source creates an obligation to share that information with the buyer to protect the buyer's interests.
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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.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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.
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