medium · National Real Estate Exam disclosures
A listing agent knows that a property was built on an old landfill. The seller insists that the agent keep this quiet because the landfill has been closed for 40 years and is now a park.
The agent must:
- Disclose the fact that the property was built on a former landfill to all potential buyers.
- Follow the seller's instruction because 40 years is beyond the statute of limitations for such disclosures.
- Only disclose the information if the buyer's home inspection reveals soil issues.
- Keep the information confidential as the landfill is now a public park.
Sign up free to see the explanation and track your rank →
More National Real Estate Exam disclosures practice
- The agent must:
- A buyer is interested in a parcel of land for a new housing… — What is the primary purpose
- According to federal law, which of the following is true?
- A buyer's 'innocent landowner' defense against liability under CERCLA generally requires t
- What is the agent's professional responsibility?
- A seller's agent knows that the roof is at the end of its us… — Is the agent required to d
- Carbon monoxide is a hazardous substance most commonly produced by which source in a resid
- What is the seller's obligation regarding the paint itself?