In British Columbia, a buyer's agent discovers that their client's offer was accepted, but the seller's agent failed to disclose a material latent defect known to the seller. What is the most appropriate immediate action?
Correct Answer
C) Document the issue and advise the client of their legal options including potential rescission
When a material latent defect is discovered that should have been disclosed, the buyer's agent must document the issue and advise their client of all legal options, which may include rescission of the contract. The agent should recommend the client seek legal counsel to determine the best course of action based on the specific circumstances.
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In BC, if a buyer representation agreement is terminated early due to the brokerage's breach, what happens to any commission earned on a property the buyer subsequently purchases?
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