A seller's agent discovers a wet basement in the listed property. The agent must:
Correct Answer
B) Disclose the condition to all prospective buyers as a material defect
Under Maine law, a seller's agent is required to disclose all known material defects to prospective buyers, regardless of whether they ask. A wet basement is a material defect that could significantly affect the value or desirability of the property. Concealing it would violate the agent's disclosure duties and could expose the agent and broker to liability.
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