A listing agent in Oklahoma provides the Property Condition Disclosure Statement to buyer Karen before Karen submits her offer. Karen reviews the disclosure, then submits an offer that the seller accepts. After closing, Karen discovers a foundation defect not listed on the disclosure. Does Karen have a five-business-day right to rescind based on the Oklahoma Residential Property Condition Disclosure Act?
Correct Answer
D) No, because the disclosure was delivered before the offer was made; the buyer may have damages remedies for an undisclosed known defect, but not a post-offer five-day rescission right
Delivery before the purchaser submits an offer satisfies the RPCDA timing rule in 60 O.S. §834. If the seller or licensee failed to disclose an actually known defect, 60 O.S. §837 frames the civil remedy as actual damages; the current OREC booklet does not create a generic five-business-day post-offer rescission right.
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Related Topics & Key Terms
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