Under Ohio law, listing agent Angela discovers that her listing client has not disclosed a known foundation crack. A buyer has submitted an offer without knowledge of the defect. What is Angela's obligation?
Correct Answer
D) Advise the seller of the legal obligation to disclose and ensure the defect is disclosed to the buyer
Under ORC §4735.67, Ohio licensees have a duty to promote the interests of their client while also treating all parties honestly. Angela must advise the seller of the disclosure obligation and ensure the known defect is disclosed to the buyer.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
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