Under Ohio law, buyer's agent Mark learns that the property his client wants to purchase is located in a flood zone. The seller's disclosure form does not mention this fact. What must Mark do?
Correct Answer
D) Disclose the flood zone status to his client as a material fact and recommend further investigation
Under Ohio agency law, Mark's fiduciary duty to his client requires disclosure of all known material facts, including flood zone status. He must inform his client and recommend further investigation regardless of what the seller's disclosure form states.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
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