Agency
A West Virginia seller's agent who discovers a hidden defect in the listed property after signing the listing agreement has a duty to:
AKeep the defect confidential to protect the seller's interests
BDisclose the defect to prospective buyers as a known material fact✓ Correct
CDisclose only if the buyer specifically asks about that issue
DWithdraw from the listing immediately without notifying buyers
Explanation
Even though a seller's agent primarily represents the seller, they have a duty to disclose known material facts that could affect the buyer's decision or the property's value. Concealing known defects from buyers would be fraudulent misrepresentation.
Related West Virginia Agency Questions
- A West Virginia listing agent may disclose which of the following to a buyer without breaching their fiduciary duty to the seller?
- A West Virginia agent who represents both the buyer and the seller in the same transaction without informed written consent of both parties is engaging in:
- A West Virginia listing agreement is terminated by operation of law when:
- The fiduciary duty of accounting in West Virginia requires a real estate agent to:
- A West Virginia buyer tells their agent confidentially that they can pay up to $250,000 for a house listed at $225,000. The agent is representing both buyer and seller (dual agency). The agent should:
- When a West Virginia buyer signs an agency disclosure form, this means:
- In West Virginia, which form of agency allows a broker to designate separate agents within the same brokerage to exclusively represent the buyer and seller in a transaction?
- A West Virginia listing agent who wants to present their own buyer's offer on their own listing must disclose to the seller that they represent the buyer. This creates:
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