New Jersey Real Estate 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 essential for their safety and informed decision-making. Asbestos is a known health hazard, and failing to disclose it could lead to legal repercussions for the licensee and the seller.
Option B, asking for the seller's permission, is inadequate since the licensee has a duty to disclose known hazards regardless of the seller's wishes. Option C, suggesting a home inspection, shifts responsibility away from the licensee and does not guarantee that buyers will be informed of the asbestos issue directly. Option D, suggesting containment, does not address the immediate need for disclosure and could mislead buyers about the property's safety.
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