Agency
A buyer's agent in Tennessee who learns the buyer is being transferred and must purchase within 60 days should:
AShare this information with listing agents to help the buyer find the right home
BKeep this information confidential — sharing it would harm the buyer's negotiating position✓ Correct
CDisclose it to the seller as a material fact
DInclude it in the purchase offer as a contingency
Explanation
The buyer's urgent timeline and must-move situation is confidential information that would give the seller a significant negotiating advantage if disclosed. The buyer's agent must protect this information under the fiduciary duty of confidentiality.
Related Tennessee Agency Questions
- In Tennessee, a listing broker's duty to the seller regarding the property's list price is to:
- A Tennessee affiliate broker's authority to bind the principal broker in contracts is called:
- In Tennessee, a licensee who also has a personal financial interest in a transaction (for example, part-owner of the company buying the listing) must:
- In Tennessee, when representing a buyer, an affiliate broker is required to:
- A Tennessee broker who represents neither party in a transaction but assists both in completing the transaction is known as a:
- The real estate doctrine of 'caveat emptor' (let the buyer beware) has been significantly limited in Tennessee by:
- In Tennessee, a seller's listing agreement obligates the seller to pay the commission when the broker produces a ready, willing, and able buyer. 'Able' buyer means:
- The Tennessee agency disclosure form must be signed by the consumer:
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