Contracts
Under Virginia law, a seller who misrepresents the square footage of a home in the MLS may be liable for:
ANothing if the buyer had an inspection
BFraudulent misrepresentation if the misrepresentation was knowing and material✓ Correct
COnly a $500 VREB fine
DOnly contract rescission
Explanation
Knowingly misrepresenting material facts like square footage constitutes fraud in Virginia. The buyer may seek rescission and damages, and the agent/broker may face VREB disciplinary action.
Related Virginia Contracts Questions
- In Virginia, a ratified contract refers to a contract that:
- A Virginia seller receives two offers simultaneously: one at full list price with an inspection contingency, and one at $10,000 above list price with no contingencies. The seller should:
- A buyer makes an offer on a Virginia home. Before the seller responds, the buyer attempts to withdraw the offer. Which of the following is true?
- A Virginia real estate contract requires the seller to provide clear title at closing. Which of the following would constitute a cloud on title?
- In Virginia, a real estate contract is voidable (not void) when:
- A Virginia contract is said to be 'ratified' when:
- In Virginia, net listings — where the broker keeps everything above a set price — are:
- Under Virginia law, a lease agreement that does not specify a duration is presumed to be:
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →