Agency
A West Virginia buyer's agent who discovers the property the client is interested in was previously used as a meth lab should:
ADisclose this information to the buyer as a material fact affecting health and safety✓ Correct
BKeep the information confidential to avoid losing the sale
CNotify the seller and listing agent but not the buyer
DOnly disclose if the buyer specifically asks about prior drug activity
Explanation
Prior methamphetamine production is a material fact affecting health and safety (residual chemical contamination) and value. A buyer's agent who discovers this information must disclose it to their buyer client.
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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.
LienA 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.
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