Humber/Ontario Real Estate Course 4 Exam Practice

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What is Salesperson Ramay's obligation when knowing about a property's past use as a meth lab?

Salesperson Ramay does not need to disclose this information, as the property has been remediated.
Salesperson Ramay is not required to disclose this information, unless Buyer Client Razavi specifically asks about the issue.
Salesperson Ramay should only disclose this fact if so instructed by the employing brokerage.
Salesperson Ramay is obligated under the REBBA Code of Ethics to disclose material facts to the Buyer Client Razavi.
Inform the local authorities first before telling the client.
Disclose the information only after the client signs the agreement.

The correct answer is: Salesperson Ramay is obligated under the REBBA Code of Ethics to disclose material facts to the Buyer Client Razavi.

Salesperson Ramay is obligated under the REBBA Code of Ethics to disclose material facts to the Buyer Client Razavi. It is essential for real estate professionals to disclose any material facts that could affect a buyer's decision to purchase a property, such as its past use as a meth lab. Failure to disclose such information could lead to legal consequences and damage the trust between the real estate professional and the client. Therefore, disclosure of this nature holds significant importance in ensuring transparency and integrity in real estate transactions.