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WHAT FIDUCIARY RESPONSIBILITY DOES THE BROKER BREAK BY NOT TELLING HIS SELLER CLIENT THAT THE BUYER CUSTOMER CAN`T AFFORD THE DOWN PAYMENT?

User MRah
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Final answer:

The broker would be breaking his fiduciary responsibility to the seller client by not disclosing the buyer customer's inability to afford the down payment.

Step-by-step explanation:

The broker would be breaking his fiduciary responsibility to the seller client by not disclosing the buyer customer's inability to afford the down payment. A fiduciary duty is a legal obligation to act in the best interests of another party. In this case, the broker has a duty to provide accurate and complete information to the seller client regarding the buyer customer's financial capability.

By withholding this information, the broker is putting his own interests ahead of the seller client's and not fulfilling his duty to act in the seller client's best interests. This failure to disclose could potentially lead to financial loss or harm to the seller client.

To fulfill his fiduciary responsibility, the broker should inform the seller client about the buyer customer's inability to afford the down payment so that the seller client can make an informed decision regarding the sale.

User Junkangli
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