Agency
Under Virginia law, which of the following must a buyer's agent disclose to a seller?
AThe maximum price the buyer is willing to pay
BThe buyer's motivation for purchasing
CKnown material defects in the property✓ Correct
DThe buyer's financial pre-approval amount
Explanation
Even while representing a buyer, an agent has a duty to disclose known material defects in the property to all parties, as this is a matter of honesty and legal obligation.
Related Virginia Agency Questions
- Under Virginia law, a 'designated agent' is a licensee who:
- A Virginia licensee acting as a 'limited service agent' must:
- A Virginia licensee who is showing buyer-clients properties while the buyer has not yet signed a buyer-broker agreement is operating as:
- In Virginia, a real estate licensee acting as a 'buyer's agent' owes the seller which of the following duties?
- In Virginia, when a seller asks their listing agent to tell prospective buyers the property has no water intrusion history when the agent knows it does, the agent should:
- The Virginia Agency Disclosure form must be provided to a consumer:
- A Virginia licensee who acts as a property manager and represents the owner in leasing transactions must have:
- A Virginia listing agent who learns the seller has major plumbing problems not listed on the disclosure form must:
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →