Under Ohio law, seller's agent Carol is conducting a final walkthrough with the buyer before closing. Carol notices that the seller has removed a built-in dishwasher that was included in the purchase agreement. Under Ohio agency law, what should Carol do?
Correct Answer
B) Inform the buyer's agent about the missing dishwasher, as it is a material fact affecting the terms of the accepted agreement
Under Ohio agency law, Carol must disclose the missing dishwasher to the buyer's agent because items included in the purchase agreement are part of the contractual terms. Removal of an agreed-upon item is a material fact.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
In real estate, a client is someone to whom the agent owes fiduciary duties through an agency relationship, while a customer is a third party to whom the agent owes only honesty and fair dealing.
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
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