Agency
A buyer's agent in Oklahoma who discovers that the seller's property has an unpermitted addition should:
AKeep the information confidential to protect the transaction
BDisclose the unpermitted addition to the buyer as a material fact that could affect value, insurance, and lending✓ Correct
COnly disclose if the buyer asks about permits
DReport the matter to the city without telling the buyer
Explanation
An unpermitted addition is a material fact that could affect the property's value, insurability, and financing eligibility. The buyer's agent must disclose this to the buyer so they can make an informed decision and negotiate accordingly.
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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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