Under Victorian underquoting laws, what is an estate agent required to provide to prospective purchasers when marketing a residential property?
Correct Answer
B) A Statement of Information showing an indicative selling price and comparable sales.
Victorian underquoting laws require agents to prepare a Statement of Information for residential property offered for sale. It shows the indicative selling price (a single price or a range of no more than 10%), the suburb median price, and up to three comparable sales the agent considers most comparable. It must be available at inspections and provided to buyers who ask for it.
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