A Georgia listing broker knows that a property is located within 1,000 feet of a former gas station where underground storage tanks were removed in 2018. The Georgia EPD has issued a 'No Further Action Required' letter for that gas station site. What is the broker's best course of action regarding this information?
Correct Answer
B) Disclose the known proximity to the former gas station site and provide the EPD documentation to prospective buyers.
Under Georgia license law, licensees have a duty not to fail to disclose known material facts (O.C.G.A. § 43-40-25(a)(6) and (a)(26)). A property's proximity to a site with a documented contamination and remediation history is information that a reasonable buyer would consider material to a purchase decision. Providing the EPD's 'No Further Action' documentation gives the buyer complete, accurate information and allows them to make an informed decision, while also protecting the broker from future misrepresentation claims.
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Related Topics & Key Terms
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