medium · National Real Estate Exam
A buyer is looking at a home where the adjacent property is a derelict gas station with several visible underground storage tank vent pipes. The buyer's agent should treat this as:
- A matter of external obsolescence that only affects the adjacent property and has no bearing on the subject property's value.
- A violation of the Fair Housing Act because it makes the neighborhood less desirable for protected classes.
- An environmental red flag that suggests potential soil or groundwater contamination on the subject property.
- A confidential defect that the seller's agent must disclose only if the buyer signs a non-disclosure agreement.
Sign up free to see the explanation and track your rank →
More National Real Estate Exam practice
- A broker's employment contract with a seller is officially called the:
- What is the current status of the contract?
- A buyer defaults on a purchase agreement, and the seller chooses to keep the earnest money
- A buyer makes a written offer to a seller. Two days later, before the seller has responded
- A contract for the sale of a property is signed. Before closing, the property is destroyed
- A contract for the sale of real estate that has been signed by both parties is valid, but
- A contract that is valid and binding but allows one party to avoid the agreement because o
- A contract that is valid and enforceable until it is canceled by a party who was a victim