Sentences with phrase «licensee about defects»
Chapter 93A requires brokers, salespersons, and other business persons to disclose all facts known by a real estate licensee about defects in a property, even if a buyer or tenant does not ask.
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Listing licensees should explain the concept of latent defects to sellers at the time a listing is taken, to ensure they are aware of the need to inform potential buyers about the property's defects.
If a buyer believes that information about a known latent defect has been withheld by the seller or the seller's licensee, legal advice should be obtained.
Like licensees in agency relationships, transaction licensees must disclose known material defects about the property.
All confidential information relayed by the seller / landlord must be kept confidential except that a licensee must reveal known material defects about the property.