Michigan Real Estate Exam Practice Question
According to the Seller Disclosure Act, when must disclosure be furnished?
Correct Answer: C
Rationale: Disclosure must be furnished prior to entering into a binding purchase agreement to ensure buyers have all necessary information before committing to a purchase. This timing protects buyers and promotes transparency in real estate transactions.
Option A is incorrect as disclosure is not required before advertising; advertising can occur without it. Option B is misleading; while disclosures must be provided before closing, this does not fulfill the requirement for initial transparency. Option D is also wrong, as the second contact does not establish a legal obligation for disclosure; it must occur earlier in the process to safeguard buyer interests effectively.
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