New Jersey Real Estate Practice Exam 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 crucial for their safety and informed decision-making. Asbestos poses serious health risks, and full transparency about material defects is a legal and ethical obligation.
Option B, seeking the seller's permission, could delay necessary disclosures and potentially mislead buyers. Option C, suggesting a home inspection, does not alleviate the licensee's responsibility to disclose known hazards directly. Option D, recommending that the seller wrap the pipes, does not address the immediate need for disclosure and could lead to further complications.
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