Audit memo Harbor Memo highlights this Florida rule. In a Tallahassee transaction, a closing coordinator wants the Florida rule on limited duties owed in a no-brokerage relationship. Which statement is correct?
Correct Answer
D) Florida's brokerage-disclosure requirements do not apply to nonresidential transactions, among other statutory exceptions.
Florida's brokerage-disclosure requirements do not apply to nonresidential transactions, among other statutory exceptions. This follows F.S. § 475.278(4)-(5); Pearson VUE Florida Sales Associate CIB.
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Related Topics & Key Terms
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Related Concepts
HOA disclosure requires informing buyers about the existence, rules, fees, financial health, and restrictions of a homeowners association governing the property. This information helps buyers understand their obligations before purchase.
The Lead-Based Paint Disclosure is a federally mandated disclosure required for all residential properties built before 1978. Sellers and landlords must disclose known lead-based paint hazards and provide the EPA pamphlet "Protect Your Family From Lead in Your Home."
A material defect is a condition that significantly affects the value, desirability, or safety of a property and that would likely influence a reasonable buyer's decision to purchase or the price they would pay.
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In a Ocala transaction, a buyer wants the Florida rule on limited duties owed in a no-brokerage relationship. Which statement is correct?
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A Florida real estate licensee provides market analysis information to a property owner who is considering selling their home, but does not assist with negotiations or provide advice. The licensee receives no compensation. What type of relationship exists?