Final answer:
A selling broker should be most knowledgeable about the property's market value, as it helps in setting a competitive price. Imperfect information can make price agreement difficult due to a lack .
Step-by-step explanation:
The selling broker is generally responsible for knowing or discovering certain aspects of a property on behalf of a property purchaser. Among the options provided.
This is crucial as it helps determine a competitive and fair price for the property. Knowing the market value involves analyzing comparable sales, the current housing market trend, and other factors.
that can affect the property's worth. It is less common for the selling broker to be expected to provide information on the other choices like prior owners, construction materials, or local school ratings unless
These are directly relevant to the value or desirability of the property in the context of the sale. These latter details are typically researched by the buyer or a specialized inspector.
When imperfect information exists, it is difficult for a buyer and seller to agree on a price because each party lacks full knowledge about the property.
This can lead to misconceptions and incorrect assumptions about the value, condition, or potential of the property.
Buyers and sellers both rely on accurate information to negotiate price and terms effectively. The absence of complete information can lead to a mismatch in pricing expectations, potentially .
The role of the selling broker is to minimize these information gaps and facilitate a fair transaction between the buyer and seller.