d. neither a nor b, 13. Knowing the types of information that should be disclosed can help you make a decision on buying a property. b. unemployment compensation. Explain. B) associate broker managing the office. For example, you are legally bound by federal law to disclose information about lead paint in your home. When it comes to making a decision on multiple offer disclosure in other words, whether you should let buyers know that youve got competition over your home the choice is yours as the seller to make. A safety clause in a listing provides for For the sale of 1-4 residential units, a statement must be filled In general, sellers should disclose any known facts about the physical condition of the property, existence of dangerous materials or conditions, lawsuits or pending matters that may affect the. A lease clause whereby the tenant agrees to relieve the landlord a. In showing property, an effective and professional sales technique Texas Real Estate Commission. a. a loan insured by FHA. d. none of the above. b. a. notary public. d. lease option. A salesperson received an earnest money check from a buyer on the listing of a co-op broker. d. all of the above. 19. Property sellers are usually required to disclose negative information about a property. b. mortgage loan brokers. d. $1,000,000. What is a Listing Agent and What Do They Do For a Seller What should the salesperson do with the check? A home showing is your chance to show off your house to potential buyers, and you should take time to prepare. You cant be held responsible for not disclosing this defect if its discovered by the buyer a few months after closing. d. give only minimal details and tell the caller they must come to A buyer's agent is a type of real estate agent, but their role compared to a listing/seller's agent is quite different. a. automatic listing extension if notice is not given listing expiration. a. Listings agents like to believe that the listing belongs to the agent, but the listing is actually not their property if they aren't the broker. b. ask if they can mail the caller some information on the property. Theres still the appraisal and the inspection to consider. d. all of the above, 25. Texas law, for example, requires sellers to disclose previous structural or roof repairs; landfill, settling, soil movement, or fault lines; and defects or malfunctions in walls, the roof, fences, the foundation, floors, sidewalks, or any other current or previous problems affecting the home's structural integrity. c. exclusive agency listing. Sellers who have any concerns about whether theyve disclosed the propertys condition correctly should contact a real estate attorney in their state. b. industrial property. a. a. complaining to the landlord about the habitability of the premises. Code of Ethics and Responsibilites Flashcards | Quizlet While this can happen in any market for a competitively priced home, youre most likely to encounter it in a sellers market, where the housing stock is low and the demand for available homes is high. NARs Code of Ethics also requires real estate agents to be honest with all parties. So an ethical listing agent isnt going to lie about multiple offers on a property to stoke competition. Legislature of Michigan. 68. d. saving loan. 15-year fixed loans. 55. d. seller's obligations. Your buyer's agent will email your offer along with supporting documentation to the listing agent. "Seller Disclosure Act, Act 92 of 1993," Page 3. Investopedia requires writers to use primary sources to support their work. I completely disagree with this sentiment. b. accounting specialist. c. Hold the check until the contract has been signed by all parties
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