Nebraska Real Estate Broker Exam — All Questions
2 questions
Nebraska's Seller Property Condition Disclosure Statement is the responsibility of the:
- a.Seller of the residential property✓
- b.Buyer's lender
- c.Nebraska Real Estate Commission
- d.Home inspector
The Seller Property Condition Disclosure Statement is the seller's representation about the known condition of the residential property, delivered to the buyer. The licensee must still disclose known material defects independently, but the statement itself belongs to the seller, not the lender, the Commission, or the inspector.
Regardless of what the seller writes on the Nebraska disclosure statement, the licensee must:
- a.Guarantee the property has no defects
- b.Keep any known defects confidential
- c.Refuse to deliver the statement
- d.Disclose known material defects and not help conceal them✓
A Nebraska licensee has an independent duty to disclose known material defects to a buyer and must not help conceal them, no matter what the seller states on the disclosure form. The licensee does not guarantee the property is defect-free but must deal honestly and disclose known material facts.