234k views
0 votes
Which of the following statements is most correct regarding a seller or agent's failure to make the required natural hazards disclosures?

a. It has no legal consequences
b. It may lead to a fine or penalty
c. It results in immediate sale termination
d. It leads to automatic insurance coverag

User Hublo
by
8.8k points

1 Answer

4 votes

Final answer:

Failing to make the required natural hazards disclosures can lead to legal repercussions for the seller or agent, including potential fines or penalties. This is because such disclosures are legally mandated and crucial for ensuring a fair real estate transaction. The correct answer to the student's question is option b.

Step-by-step explanation:

The question pertains to the disclosures that must be made when selling real estate, specifically regarding natural hazards. It's important to know that if a seller or agent fails to provide the necessary natural hazard disclosures, the consequences can be significant and legally binding. This is because these disclosures are legally required in many jurisdictions, and failing to provide them can mislead buyers about the risks associated with the property.

Option b. It may lead to a fine or penalty is the most correct answer. Non-disclosure can result in a variety of legal repercussions, such as the buyer being able to seek damages, rescind the sale or the seller may indeed face fines or penalties. Failing to disclose does not result in automatic insurance coverage or immediate sale termination by law. Failure to disclose is a serious issue because it impacts the fundamental fairness and integrity of the real estate transaction.

User Atams
by
8.1k points