medium · National Real Estate Exam property-ownership
A buyer purchases an 'as-is' property and later finds that the square footage is significantly less than what was stated in the listing. This is an example of:
- A patent defect that the buyer should have discovered by measuring themselves.
- A misrepresentation of material fact that 'as-is' clauses do not typically cover.
- A violation of the fiduciary duty of loyalty that the agent owes directly to the buyer.
- Acceptable 'puffing,' or subjective sales opinion, commonly used by agents in listings.
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