Question

Broker Smith took a listing on commercial acreage and also received the right to purchase the property within 30 days. On the 28th day of the listing, the broker decided to buy the property. Before buying the property, he must: 1. Disclose any outstanding offers. 2. Give the owner any material information. 3. And obtain written consent from the owner which acknowledges any profit or anticipated profit. 4. All of the above.

Answer 1

The broker must disclose offers, provide material information, and obtain written consent from the owner before buying the property.

Step-by-step explanation:

According to the question, the broker has taken a listing on commercial acreage and also received the right to purchase the property within 30 days. On the 28th day of the listing, the broker decides to buy the property. Before buying the property, the broker must:

1. Disclose any outstanding offers: The broker must inform the owner if there are any other offers on the property.
2. Give the owner any material information: The broker must provide the owner with any relevant information about the property.
3. Obtain written consent from the owner acknowledging any profit or anticipated profit: The broker must get written consent from the owner, acknowledging any profit or anticipated profit.

Therefore, the correct option is:

4. All of the above.