Question

A broker listed a water view property consisting of 6 acres and a seasonal cottage situated in a very remote area. Although the property is not right on the water and has no access to the water, it has a beautiful view of a very large lake about 175 feet away. A buyer decides to offer the full asking price. Regarding the site assessment, the broker:

A. needs to be sure that the buyer signs a copy of the site assessment prior to signing the purchase and sales agreement
B. is required to do nothing. A site assessment is not required when a property is not located on the water
C. must ask the local building inspector to perform a site assessment for the seller
D. must tell the seller to have the site assessment performed prior to the closing so it will be available at the closing for the buyer

Answer 1

The broker must inform the seller to have a site assessment performed prior to the closing so it will be available for the buyer.

Step-by-step explanation:

The correct answer is D. The broker must tell the seller to have a site assessment performed prior to the closing so it will be available at the closing for the buyer. This is important because even though the property is not right on the water and has no access to the water, the beautiful view of the large lake can still have an impact on the property's value. A site assessment will provide valuable information about the property and any potential issues that may affect the buyer's decision.