In Oklahoma real estate practice, a seller has not yet accepted a purchaser’s offer. What should the licensee remember?
Correct Answer
B) The disclaimer or disclosure statement should be delivered as soon as practicable and in any event before acceptance of the offer
60 O.S. section 834 requires delivery before acceptance of an offer to purchase. Source basis: OREC Residential Property Condition Disclosure Act booklet updated 2025, 60 O.S. sections 831-839: disclaimer/disclosure statements, delivery before acceptance, licensee duties, remedies, exemptions, and acknowledgments. Checked 2026-04-30.
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Related Topics & Key Terms
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Flood zone disclosure requires informing buyers whether a property is located in a designated flood zone as mapped by FEMA. Properties in high-risk flood zones may require mandatory flood insurance.
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."
More Mandated Disclosures Questions
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In Vermont, a seller's agent knows a serious property defect or limitation. Which statement is correct?
- → In Vermont, covered pre-1978 property is shown to a buyer. Which statement is correct?
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- → A Vermont licensee is asked about unpermitted construction or septic work affects a Vermont property. What is the best answer?
- → An Oklahoma licensee is asked about a seller learns of a new defect after already delivering a disclosure or disclaimer statement. What is the best answer?
- → Which Oklahoma rule applies when a seller wants to use the Oklahoma disclaimer statement instead of a disclosure statement?
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