Agent Sandra receives a text message from potential buyer Alex asking about the square footage and lot size of her listed property. Sandra responds with the information via text. Alex then asks to see the property this weekend. When should Sandra have provided disclosure?
Correct Answer
A) In her text response about square footage and lot size
Correct: A - Providing specific information about square footage and lot size constitutes substantive discussions about specific real property, requiring immediate disclosure. B is incorrect because disclosure should have occurred with the first substantive discussion. C is incorrect because this would be too late. D is incorrect because disclosure is required regardless of whether an offer is made.
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Related Topics & Key Terms
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Related Concepts
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.
Megan's Law requires states to make information about registered sex offenders available to the public. Some states require real estate agents to inform buyers about the availability of sex offender registries.
Mold disclosure involves informing buyers about the presence of mold or conditions that are conducive to mold growth in a property. While no federal mold disclosure law exists, many states require disclosure of known mold issues.
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