Principles of Real EstateQuestion 20 of 120
A licensee who discovers a material defect that is not readily observable by the buyer generally has a duty to:
a.Conceal it to protect the seller
b.Ignore it because buyers should inspect
c.Report it only to the MLS
d.Disclose the known material defect
Explanation
Florida law and case precedent require disclosure of known material defects that materially affect a property's value and are not readily observable to the buyer. This duty applies even in a transaction broker relationship. Failure to disclose can create liability for the licensee and seller.
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