Contracts
The Tennessee Residential Property Condition Disclosure form must be completed and signed by:
AThe seller's real estate agent only
BThe seller, to the best of their knowledge✓ Correct
CBoth the seller and the listing broker
DThe seller and the buyer's agent
Explanation
The Tennessee property condition disclosure is completed and signed by the seller, to the best of their actual knowledge. The seller — not the agent — is responsible for the accuracy of the disclosure.
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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.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
State-Specific Concepts
Disclosure Requirements
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