Mandated Disclosures

Question 1

The Department of Housing and Urban Development estimates that most
private homes built before 1978 contain potentially dangerous levels of lead.
Because of this, some Federal agencies, such as FHA,

Answer 1

require the buyer to acknowledge disclosure of the presence of
any known lead paint.

Question 2

At the time of listing, the seller tells the listing agent they are moving because
the neighbor has loud parties every weekend. The agent should

Answer 2

tell potential buyers about the parties.

Question 3

A seller tells the listing agent that her home was treated for termites 10 years
ago, so there are no termites now. Before listing the property, the agent
should

Answer 3

tell the seller to disclose the termite treatment on the property
disclosure.

Question 4

Which of the following is the first action to take when mold problems are
found?

Answer 4

Identify and remedy the cause of the problems.

Question 5

The real estate broker who is listing a house for sale should personally verify

Answer 5

the number of square feet in the building.

Question 6

State laws differ on whether a buyer is entitled to know about

Answer 6

a suicide that occurred in the house last year.