A buyer's agent sends a repair request to the listing agent during the option period. The listing agent never forwards the request to the seller. Who is responsible for the failure to communicate?
Correct Answer
D) The listing agent, because the agent has an obligation to promptly communicate notices to the seller
The listing agent has a fiduciary duty to the seller, which includes promptly communicating all material information including repair requests. Failure to forward communications is a breach of the agent's duty.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Contract termination occurs when a contract is ended or discharged, releasing both parties from their obligations. A contract can be terminated through performance, mutual agreement, operation of law, or breach.
A counteroffer is a response to an original offer that changes one or more terms of the offer, effectively rejecting the original offer and creating a new offer. The party who makes the counteroffer becomes the new offeror.
Earnest money is a deposit made by the buyer at the time of the offer or shortly after to demonstrate good faith and serious intent to purchase the property. It is also called a good faith deposit.
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