New Jersey Real Estate Practice Exam Free Practice Question
A Seller's Property Disclosure form states that there are no known material defects with the property, but the listing licensee is aware of asbestos wrapped duct pipes in the basement. The licensee should
Correct Answer: A
Rationale: Disclosing the existence of asbestos to all potential buyers is essential for ethical and legal transparency. Asbestos poses serious health risks, and potential buyers must be informed to make safe decisions.
Option B, asking for the seller's permission, is inadequate because the licensee has a duty to disclose known hazards regardless of the seller's wishes.
Option C, suggesting a home inspection, shifts responsibility from the licensee and may not adequately inform buyers of immediate risks.
Option D, recommending wrapping the pipes, is a temporary fix and does not address the need for full disclosure of existing hazards.
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