Environmental
A Pennsylvania home buyer discovers mold during an inspection. The listing agent should:
AMinimize the concern since mold is everywhere
BRecommend the buyer consult a mold remediation specialist and consider the impact on value and habitability✓ Correct
CAdvise the buyer to immediately cancel the contract
DReport the mold to PADEP
Explanation
Mold is a material condition that can affect health and habitability. A licensee should recommend professional mold inspection and remediation assessment.
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Key Terms to Know
Listing Agreement
A contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
AppraisalA professional estimate of a property's market value prepared by a licensed or certified appraiser.
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