medium · National Real Estate Exam agency
A buyer's agent is aware that their client has a maximum budget of $450,000 but the agent manages to negotiate a deal for $425,000. After the sale closes, the agent's friend asks what the buyer's true limit was. The agent:
- Can disclose the limit only if the buyer provides oral permission.
- Must keep the $450,000 limit confidential indefinitely.
- Can disclose the $450,000 limit because the agency has performed and ended.
- Is only required to keep the information secret for the duration of the statute of limitations.
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