Environmental hazard is delivered to buyer by seller

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Reference no: EM132183610

1. Notice of any environmental hazard is delivered to a buyer by a seller in writing on a:

a) standardized form as mandated by the state legislature.

b) standardized form as mandated by the federal government.

c) standardized form as mandated by the California Bureau of Real Estate (CalBRE).

d) Transfer Disclosure Statement (TDS) and purchase agreement.

2. If a home inspection report (HIR) reveals property defects unknown and previously undisclosed to the buyer, the buyer may:

a) make a demand on the seller to correct or eliminate the defects.

b) close escrow and make a money demand on the seller for the difference between the purchase price and the price as adjusted for the undisclosed defects.

c) Either a and b.

d) Neither a nor b.

3. A natural hazard disclosure (NHD) is mandated on the sale of:

a) single family residential (SFR) property only.

b) all single and multi-family residential property.

c) commercial property only.

d) all types of property.

4. Neither a seller nor any agent is liable for the erroneous preparation of a Natural Hazard Disclosure (NHD) Statement they have delivered to a buyer when:

a) the NHD statement is prepared by an expert in natural hazards.

b) the seller and seller's agent used ordinary care in selecting the expert.

c) the seller and seller's agent reviewed the statement for any errors, inaccuracies and omissions of which they have actual knowledge.

d) All of the above.

5. When a purchase agreement requires a Structural Pest Control (SPC) report, a copy of the SPC report needs to be delivered to the prospective buyer:

a) as soon as practicable (ASAP).

b) before noon on the day after the purchase agreement is signed by the buyer and the seller.

c) any time before the close of escrow.

d) soon after the close of escrow.

Reference no: EM132183610

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