Agency
A seller's agent in Tennessee MUST disclose to a buyer:
AThe seller's minimum acceptable price
BThat the seller has received other offers
CMaterial defects the agent knows about the property✓ Correct
DThe seller's reason for moving
Explanation
Even a seller's agent owes the duty to disclose known material defects to buyers. This duty exists regardless of the agency relationship. The seller's bargaining position and personal information are confidential.
Related Tennessee Agency Questions
- The Tennessee agency disclosure form must be signed by the consumer:
- In Tennessee, a buyer's agent must disclose to the buyer all known material facts about the property, including:
- In Tennessee, an affiliated licensee who acts as a dual agent without written consent from both parties faces:
- A Tennessee affiliate broker is working with a buyer but has no buyer representation agreement. The broker is most likely acting as:
- In Tennessee, the duty of confidentiality to a client means the broker may NOT disclose:
- In Tennessee, if a listing broker learns during showings that the seller has structural defects they did not disclose, the broker should:
- The 'right to control' test in determining employment versus independent contractor status in real estate focuses on whether:
- 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:
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