A Florida real estate licensee discovers that a property they listed has a significant foundation issue that the seller failed to disclose. The seller asks the licensee to keep this information confidential to avoid losing potential buyers. What should the licensee do?
Correct Answer
B) Disclose the material defect to all prospective buyers as required by Florida law
Correct: Florida law requires licensees to disclose all known material defects to prospective buyers, regardless of the seller's wishes. Why not A: Fiduciary duty does not override the legal obligation to disclose material defects. Why not C: Material defects must be disclosed proactively, not just when asked. Why not D: Price reduction does not substitute for required disclosure of material defects.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
A group boycott is an illegal antitrust practice in which two or more competing real estate businesses agree to refuse to work with a specific person, company, or entity in order to harm that party's ability to compete.
More Fair Housing Ada Ethics Questions
Audit memo Cedar Seminar highlights this Florida rule. In a Tallahassee transaction, a closing coordinator wants the Florida rule on protected classes. Which statement is correct?
In a Tampa transaction, a buyer wants the Florida rule on ADA duties for public accommodations and commercial facilities. Which statement is correct?
Which statement best describes Florida's rule on honest dealing?
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A real estate agent receives a call from a seller who states, 'I don't want to sell to anyone with children because they'll damage my beautiful home.' How should the agent respond?
- → Agent Miller receives a call from a prospective tenant who mentions they have a service animal. The landlord tells Miller not to show properties to anyone with pets. What should Miller do?
- → Scenario Cedar Review raises this Florida point. In a Tallahassee transaction, a closing coordinator wants the Florida rule on ADA duties for public accommodations and commercial facilities. Which statement is correct?
- → Under Florida law and the ADA, what constitutes a 'reasonable accommodation' in housing?
- → What is the primary difference between a 'reasonable accommodation' and a 'reasonable modification' under Florida fair housing law?
- → In Florida real estate transactions, what is the definition of 'covered multifamily dwellings' under the Fair Housing Act?
- → A Florida apartment complex built in 1995 refuses to allow a tenant with a visual impairment to install grab bars in the bathroom at their own expense. The tenant has offered to restore the bathroom when moving out. Is this refusal legal?
- → A condominium association in Florida denies a unit owner's request to install a ramp to their front door, citing architectural guidelines. The owner has mobility issues and needs the ramp for access. What is the likely legal outcome?
- → A Florida real estate broker is listing a historic building converted to condominiums built in 1925. A potential buyer with disabilities asks about accessibility modifications. What should the broker advise?
- → A Florida apartment complex charges a $300 pet deposit for all animals. A new tenant has a service dog and refuses to pay the deposit. What is the legally correct outcome?
- → Which statement best describes Florida's rule on ADA duties for public accommodations and commercial facilities?
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Previous Question
Compliance case Cedar Scenario frames the issue this way. In a Tallahassee transaction, a closing coordinator wants the Florida rule on honest dealing. Which statement is correct?
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A Florida broker associate receives a referral fee from a mortgage lender for directing clients to their services, but fails to disclose this arrangement to the clients. This practice violates which Florida real estate principle?