easy · National Real Estate Exam
A seller's agent knows that the roof is at the end of its useful life and will likely need to be replaced within two years. The roof is currently not leaking.
Is the agent required to disclose this to a prospective buyer?
- Yes, as the remaining life of a major component like a roof is a material fact that affects the property's value.
- No, because the roof is currently functioning and not leaking, it is not a 'defect.'
- No, because the age of the roof is a patent fact that the buyer's inspector will easily determine.
- Only if the buyer specifically asks about the age or condition of the roof.
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