Agency
In Rhode Island, an agent who represents a seller must disclose to a buyer:
AThe seller's minimum acceptable price
BKnown material defects in the property even when representing the seller✓ Correct
CThe seller's personal financial situation
DHow many offers the seller has already received
Explanation
Even a seller's agent has a duty to disclose known material defects in the property to buyers. This obligation exists under Rhode Island law and does not violate the duty of loyalty to the seller.
Related Rhode Island Agency Questions
- In Rhode Island, the duty of 'obedience' requires an agent to:
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- A buyer's broker submits an offer on a listed property and discloses that they represent the buyer. The listing broker is required to:
- A Rhode Island seller's agent owes which of the following duties to a buyer who is NOT their client?
- In Rhode Island, a buyer's broker compensation is typically:
- In Rhode Island, a buyer's agent owes which fiduciary duty that requires placing the buyer's interests above all others, including the agent's own financial interests?
- Under Rhode Island law, a buyer's agent may accept compensation from the seller (or seller's broker) through the cooperative compensation structure. Is this a conflict of interest?
- A buyer's agent negotiating on behalf of their client should:
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