Michigan Real Estate Exam Practice Question
A seller's agent is told by the seller that the seller must replace the roof and fix a septic system. Which of the following is true?
Correct Answer: A
Rationale: In real estate transactions, transparency is crucial. Option A is accurate; the agent is obligated to disclose material facts about the property, including the need for a roof replacement and septic system repairs, to potential buyers. This ensures informed decision-making and upholds ethical standards.
Options B and A are identical, creating redundancy without adding clarity. Option C is incorrect; the agent cannot withhold significant information from potential buyers, even without explicit permission. Option D misrepresents agency duties; the agent must disclose material facts regardless of whom they represent, ensuring all parties are aware of property conditions.
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