Agency
Material facts that an Ohio seller's agent must disclose to buyers include:
AOnly structural defects
BAny known facts that would significantly affect the value or desirability of the property✓ Correct
COnly what is listed on the property disclosure form
DNothing beyond the MLS data sheet
Explanation
Ohio agents must disclose all known material facts that could affect the value or desirability of the property, regardless of whether those facts appear on the disclosure form.
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Key Terms to Know
Agency
A 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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
State-Specific Concepts
Disclosure Requirements
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