Agency
Under Virginia law, an 'as-is' addendum does NOT relieve an agent from the duty to:
AEnsure the property passes inspection
BDisclose known material adverse facts about the property✓ Correct
CNegotiate on the client's behalf
DPresent offers to the seller
Explanation
An 'as-is' addendum does not eliminate an agent's obligation to disclose known material adverse facts. The agent's disclosure duties under Virginia license law remain in force regardless of any 'as-is' clause.
People Also Study
Related Virginia Questions
- Under Virginia law, a real estate agent's duty to disclose material facts extends to:Agency
- Under Virginia's agency law, an agent must disclose all material facts that could affect the value or desirability of the property. This duty is called:Agency
- An 'as-is' clause in a Virginia real estate contract means:Contracts
- Under Virginia law, a real estate licensee must disclose their license status when:Virginia License Law
- Under the Virginia Residential Property Disclosure Act, what is the seller's primary obligation?Contracts
- A Virginia real estate licensee must disclose their license status when purchasing real estate for their own account. This requirement exists to:Virginia License Law
- A Virginia seller provides the Residential Property Disclosure Statement but the buyer later discovers the seller failed to disclose known foundation issues. The buyer's recourse includes:Contracts
- A Virginia seller must disclose the presence of a private well and septic system on the Residential Property Disclosure Statement. Buyers should be advised to:Environmental
Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
State-Specific Concepts
License Law
Study This Topic
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →