exam 26 section 8 unit 1 Property Condition, Disclosures,

exam 26/ section 8/ unit 1 Property Condition, Disclosures, Inspections, and Warranties Flashcards What does "caveat emptor" mean?Let the buyer beware Homebuyer Nancy has made an offer to purchase a house and has plans to schedule a home inspection. How can her agent assist her in relation to the home inspection?Review the inspection report with her and discuss options.In full seller disclosure states, whose responsibility is it to fully disclose all items on a seller disclosure form and any known material defects not listed on the form?Seller In full seller disclosure states, whose responsibility is it to review disclosures, ask questions, and obtain a home inspection?Buyer What does the MAAP method help licensees determine?Which property facts they need to disclose In states where full disclosure isn't required, whose responsibility is it to disclose any items required by law and respond honestly to any questions about the property's condition?Seller Marla's excited about closing on a cute lakefront cottage.But when she reads the report from the home inspection, she learns that the chimney leaks and that there is water damage in several places. This wasn't on any of the seller's disclosures. Which of these is the best option for Marla?Terminate the agreement and ask for a refund of her earnest money.Which of the following statements about the duty to disclose adverse material facts is true?Licensees are required to disclose only those material facts of which they have knowledge.