A West Virginia seller's agent discovers a serious termite infestation in the basement. The agent must:
Correct Answer
B) Disclose it to the buyer as a known material defect
Material defects that affect the value, health, or safety of a property must be disclosed to all parties regardless of the agency relationship. A termite infestation is a material fact that the agent is legally obligated to disclose.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
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