A buyer's agent discovers during research that the property is in a flood zone, which the seller's disclosure did not mention. The agent immediately informs the buyer. Which TWO fiduciary duties does this demonstrate?
Correct Answer
D) Disclosure and reasonable care
Disclosure is shown by sharing the material information, and reasonable care is shown by diligently researching the property beyond what the seller disclosed.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.
The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.
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A listing agreement creates an agency relationship between:
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