Before any offer is made, a registrant representing a buyer learns that the seller of the home the buyer wants is the registrant's own sister. What must the registrant do under Ontario's Code of Ethics before continuing to act for the buyer?
Correct Answer
D) Disclose the relationship and get the buyer's written consent to continue
The seller is the registrant's sister, so the registrant's interests may conflict with the buyer client's. Code of Ethics s. 13 allows the registrant to keep acting only after disclosing the relationship, advising the buyer to seek independent professional advice, taking reasonable steps to ensure the buyer understands the conflict, and obtaining the buyer's written consent. O. Reg. 567/05 s. 22.9 also requires the sister's property interest to be disclosed before any offer is made.
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A registrant listing a property learns that the basement leaks, a latent defect the seller is legally obliged to disclose to buyers. The seller wants to conceal it. What should the registrant do under Ontario law?
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