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Questions and Answers
What must be included in the disclosure statement according to the text?
What must be included in the disclosure statement according to the text?
- Warranties provided by sellers
- Recommendations from real estate licensees
- Information regarding sex offenders
- Declaration from sellers (correct)
When must the completion of the disclosure statement be done by the sellers?
When must the completion of the disclosure statement be done by the sellers?
- Within 90 days prior to delivery date
- Within 30 days after delivery date
- Within 180 days prior to delivery date (correct)
- Within 365 days before delivery date
What is the responsibility of a Buyer's Licensee according to the text?
What is the responsibility of a Buyer's Licensee according to the text?
- To make such statements available prior to acceptance of an offer (correct)
- To avoid making statements available to potential purchasers
- To obtain a disclosure statement from the seller
- To hide known defects in the property
What is the definition of psychologically impacted or stigmatized properties?
What is the definition of psychologically impacted or stigmatized properties?
Which condition would NOT be considered a stigmatizing factor according to the text?
Which condition would NOT be considered a stigmatizing factor according to the text?
Who is liable for failing to disclose stigmatizing factors about a property?
Who is liable for failing to disclose stigmatizing factors about a property?
When is it mandatory for a licensee to inquire about stigmatizing factors at a property?
When is it mandatory for a licensee to inquire about stigmatizing factors at a property?
What obligation do licensees have regarding disclosing information about sex offenders according to the text?
What obligation do licensees have regarding disclosing information about sex offenders according to the text?
What should be disclosed if known by licensees about a property according to the text?
What should be disclosed if known by licensees about a property according to the text?
What is NOT required from Buyer's Licensee as per the text?
What is NOT required from Buyer's Licensee as per the text?
What is considered a property defect in a residential property re-sale conveyance?
What is considered a property defect in a residential property re-sale conveyance?
What type of properties does the requirement described apply to?
What type of properties does the requirement described apply to?
When should the seller deliver a disclosure statement in a residential property sale?
When should the seller deliver a disclosure statement in a residential property sale?
Which of the following is included in the disclosure statement according to the text?
Which of the following is included in the disclosure statement according to the text?
What kind of information about water/sewer systems is included in the OREC form?
What kind of information about water/sewer systems is included in the OREC form?
Which systems are covered under structural systems in the OREC form?
Which systems are covered under structural systems in the OREC form?
What is considered a major fire/tornado damage as per the text?
What is considered a major fire/tornado damage as per the text?
What type of matter is mentioned as important by OREC other than defects known to sellers?
What type of matter is mentioned as important by OREC other than defects known to sellers?
Which statement best describes the information contained in the disclosure statement?
Which statement best describes the information contained in the disclosure statement?
What is required for completion by sellers within a specific timeframe before delivery?
What is required for completion by sellers within a specific timeframe before delivery?
What does the disclaimer statement on the OREC form affirm about the seller?
What does the disclaimer statement on the OREC form affirm about the seller?
When must a licensee make disclosure statements available to potential buyers?
When must a licensee make disclosure statements available to potential buyers?
What responsibility do licensees have concerning known defects not disclosed by sellers?
What responsibility do licensees have concerning known defects not disclosed by sellers?
Who is responsible for failing to disclose stigmatizing factors at a property?
Who is responsible for failing to disclose stigmatizing factors at a property?
What compels a licensee to inquire about stigmatizing factors at a property?
What compels a licensee to inquire about stigmatizing factors at a property?
Which information is NOT required from Buyer's Licensee according to the text?
Which information is NOT required from Buyer's Licensee according to the text?
What falls under stigmatizing factors that may affect marketability, according to the text?
What falls under stigmatizing factors that may affect marketability, according to the text?
What are the duties of Seller's Licensee according to the text?
What are the duties of Seller's Licensee according to the text?
What does a property defect refer to in a residential property re-sale conveyance?
What does a property defect refer to in a residential property re-sale conveyance?
Which of the following is NOT required to be disclosed in the disclosure statement for residential property re-sale conveyances?
Which of the following is NOT required to be disclosed in the disclosure statement for residential property re-sale conveyances?
What obligation do sellers have with respect to delivering a disclosure statement in a residential property sale?
What obligation do sellers have with respect to delivering a disclosure statement in a residential property sale?
Which of the following is covered under the structural systems section in the OREC form?
Which of the following is covered under the structural systems section in the OREC form?
When must the completion of the disclosure statement be done by the sellers in a residential property re-sale conveyance?
When must the completion of the disclosure statement be done by the sellers in a residential property re-sale conveyance?
What type of properties does the requirement described apply to?
What type of properties does the requirement described apply to?
What is a disclosure statement in residential property re-sale conveyances NOT considered to be?
What is a disclosure statement in residential property re-sale conveyances NOT considered to be?
What type of properties does the requirement described apply to?
What type of properties does the requirement described apply to?
What falls under stigmatizing factors that may affect marketability, according to the text?
What falls under stigmatizing factors that may affect marketability, according to the text?
What is the responsibility of a Buyer's Licensee according to the text?
What is the responsibility of a Buyer's Licensee according to the text?
What is NOT considered a property defect in a residential property re-sale conveyance?
What is NOT considered a property defect in a residential property re-sale conveyance?
What type of matter is mentioned as important by OREC other than defects known to sellers?
What type of matter is mentioned as important by OREC other than defects known to sellers?
What does the disclaimer statement on the OREC form affirm about the seller?
What does the disclaimer statement on the OREC form affirm about the seller?
What is the responsibility of a Buyer's Licensee as described in the text?
What is the responsibility of a Buyer's Licensee as described in the text?
What is mandatory for a licensee if a purchaser expresses concern about stigmatizing factors?
What is mandatory for a licensee if a purchaser expresses concern about stigmatizing factors?
What does the completion of a disclosure statement require from sellers?
What does the completion of a disclosure statement require from sellers?
In a residential property sale, what does the disclaimer statement on the OREC form affirm about the seller?
In a residential property sale, what does the disclaimer statement on the OREC form affirm about the seller?
When is it mandatory for a licensee to inquire about stigmatizing factors at a property?
When is it mandatory for a licensee to inquire about stigmatizing factors at a property?
What is included in the responsibility of Seller's Licensee according to the text?
What is included in the responsibility of Seller's Licensee according to the text?
Which factor would classify a property as psychologically impacted or stigmatized according to the text?
Which factor would classify a property as psychologically impacted or stigmatized according to the text?
What type of properties are covered by the requirement described in the text?
What type of properties are covered by the requirement described in the text?
What is the main purpose of a disclosure statement in residential property re-sale conveyances?
What is the main purpose of a disclosure statement in residential property re-sale conveyances?
Which of the following is NOT considered a property defect in a residential property re-sale conveyance?
Which of the following is NOT considered a property defect in a residential property re-sale conveyance?
In a disclosure statement, what kind of systems are covered under the structural systems section as per the OREC form?
In a disclosure statement, what kind of systems are covered under the structural systems section as per the OREC form?
What information is NOT required to be disclosed in a disclosure statement for residential property re-sale conveyances?
What information is NOT required to be disclosed in a disclosure statement for residential property re-sale conveyances?
Which of the following is NOT part of the responsibilities of a Seller's Licensee as described in the text?
Which of the following is NOT part of the responsibilities of a Seller's Licensee as described in the text?
What must sellers complete within a specific timeframe before delivering it in a residential property re-sale conveyance?
What must sellers complete within a specific timeframe before delivering it in a residential property re-sale conveyance?
Which factor may affect the marketability of a property but is NOT classified as psychologically impacted or stigmatized?
Which factor may affect the marketability of a property but is NOT classified as psychologically impacted or stigmatized?
What does a property defect refer to in a residential property re-sale conveyance according to the text?
What does a property defect refer to in a residential property re-sale conveyance according to the text?
What is the responsibility of a Buyer's Licensee as described in the text?
What is the responsibility of a Buyer's Licensee as described in the text?
In the context of residential property conveyance, what is the completion requirement for sellers according to the text?
In the context of residential property conveyance, what is the completion requirement for sellers according to the text?
What does the liability disclaimer for homeowners and their licensees involve regarding stigmatized properties?
What does the liability disclaimer for homeowners and their licensees involve regarding stigmatized properties?
Which obligation do licensees have regarding disclosing certain information about a property?
Which obligation do licensees have regarding disclosing certain information about a property?
What falls under stigmatizing factors that may affect property marketability, based on the text?
What falls under stigmatizing factors that may affect property marketability, based on the text?
What is NOT required from Seller's Licensee according to the text?
What is NOT required from Seller's Licensee according to the text?
What is mandatory for a licensee if a purchaser expresses concern about stigmatizing factors?
What is mandatory for a licensee if a purchaser expresses concern about stigmatizing factors?
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