Agency
A buyer's agent in Oregon discovers that a property has an unresolved permit violation. The agent should:
ADisclose the violation to the buyer only if asked
BKeep the information confidential since it belongs to the seller
CDisclose the material fact to the buyer regardless of who represents them✓ Correct
DAdvise the buyer to have an inspection and not mention the permit issue
Explanation
An unresolved permit violation is a material fact that could adversely affect the property's value or the buyer's intended use. Oregon requires disclosure of known material facts to all parties, regardless of who the agent represents.
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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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