What information must an agent disclose to a buyer client about a property's condition?
Correct Answer
D) All material facts known to the agent that could affect the buyer's decision
Agents have a duty to disclose all material facts they know about a property that could reasonably affect a buyer's decision to purchase or the price they would pay. This includes both visible and non-visible issues that could impact the property's value or desirability.
Why This Is the Correct Answer
Option D correctly states the legal obligation under Canadian real estate legislation. Agents must disclose all material facts they know that could reasonably affect a buyer's decision or the price they would pay. This duty is established in provincial real estate acts like TRESA, RESA, and similar legislation. The disclosure obligation is comprehensive and proactive, not limited to specific requests or visible defects. Material facts include any information that a reasonable buyer would consider important in making their purchasing decision.
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- → Which of the following best describes the duty of confidentiality owed by a real estate agent?
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