Under Ohio law, a buyer's agent discovers that a property their client wants to purchase has been incorrectly zoned for the buyer's intended commercial use. The listing states it is zoned commercial. What is the buyer's agent's duty under ORC Chapter 4735?
Correct Answer
A) Inform the client of the zoning discrepancy and recommend verifying the zoning with the local planning department
Under ORC §4735.62, the buyer's agent has a fiduciary duty to disclose known material facts to the client. A zoning discrepancy is a material fact that could significantly affect the buyer's intended use of the property.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
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