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Unit 3

Terms in this set (10)

The buyers sign that they have received a booklet relating to:
Environmental hazards
Brownfield's is a term related to:
Soil contamination
The purpose of the Subdivided Lands Law is to:
Protect purchasers from fraud
A right of rescission is provided by law for purchase agreements involving all EXCEPT:
1-4 unit residential properties
Which statement regarding earthquake safety disclosure is TRUE?
It applies to 1-4 unit residential properties
Under Easton, an agent's duty of inspection and disclosure covers:
A visual inspection and known or should have known defects
Which seller(s) must provide a Real Estate Transfer Disclosure Statement?
The seller of a 4-unit apartment building
Which of the following statements regarding agency disclosure is TRUE??
The confirmation of agency must be in writing, three steps of the disclosure process are disclosed elect, confirm, selling agent must confirm the agency before the buyer makes an offer
Which of the following statements regarding agency disclosure is TRUE?
The listing agent cannot elect to be only a buyers agent
Which of the following statements regarding an agents duty in a real estate transaction is TRUE?
An agent has a fiduciary duty to the principal, agent must disclose any known detrimental information to a buyer, even when the agent represents the seller, any material facts the agent becomes aware of must be disclosed to the principal
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