Agency
In North Dakota, the seller's property disclosure statement is primarily the responsibility of:
AThe listing agent who must complete it based on observations
BThe seller who must complete it based on their knowledge of the property✓ Correct
CThe buyer's lender
DThe appraiser
Explanation
The North Dakota Seller's Disclosure Statement must be completed by the seller based on their personal knowledge of the property's condition. The listing agent may help the seller understand what must be disclosed but cannot complete the form on the seller's behalf.
Related North Dakota Agency Questions
- Which of the following illustrates the duty of 'accounting' owed by a North Dakota real estate agent to their client?
- In North Dakota, dual agency occurs when:
- A North Dakota buyer's broker receives a request from the seller to identify their buyer's source of funds. The buyer's broker should:
- A North Dakota listing agent who accepts a buyer's offer without first presenting it to the seller has violated:
- A North Dakota buyer's agent fails to submit an offer within the agreed timeframe, causing the seller to accept another offer. The buyer's agent may have breached the duty of:
- An agent who represents neither party but assists both parties in completing a transaction is known as a:
- A listing agent who also works with the buyer without a separate buyer-broker agreement is most likely acting as:
- A North Dakota agent who represents a seller and receives an offer that the seller would want to accept but doesn't present it (deciding the offer is 'not worth the seller's time') has:
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