Under Idaho law, what must a licensee do upon discovering a material defect in a property?
Correct Answer
B) Disclose the defect to all parties in the transaction
Under Idaho Code and the Idaho Real Estate License Law, licensees are required to disclose known material defects to all parties in a transaction regardless of which party they represent. A material defect is any fact that could significantly affect the value or desirability of the property, and failure to disclose can result in license discipline and civil liability.
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Related Topics & Key Terms
Related Topics:
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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