Fair Housing and Disclosures Practice Question

Question

A client wants to know what should be documented in writing in a New York real estate transaction involving property condition disclosure. Which statement is most accurate for exam purposes? (Item 91)

Answer choices

1. A. Escrow automatically assumes all brokerage disclosure and agency duties.
2. B. The client’s preference eliminates the need to disclose known material facts.
3. C. Recognize required seller disclosure concepts and limitations in residential transfers.
4. D. The party who complains first automatically receives the legal remedy requested.

Correct Answer

C. Recognize required seller disclosure concepts and limitations in residential transfers.

Explanation

The correct answer is C because property condition disclosure requires candidates to recognize required seller disclosure concepts and limitations in residential transfers. The other options rely on unsafe assumptions about custom, oral agreement, escrow, client preference, or independent salesperson authority and do not reflect sound New York exam practice.

Question details

• Difficulty: medium
• Domain: Fair Housing and Disclosures
• Objective: property condition disclosure

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