Leasing License Practice Exam

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What is considered a latent defect in real estate?

  1. A visible flaw in the exterior

  2. A fault that could not be discovered by a reasonable inspection

  3. Any minor repair needed

  4. A cosmetic update

The correct answer is: A fault that could not be discovered by a reasonable inspection

A latent defect in real estate is a fault that cannot be easily discovered through a reasonable inspection. This means that even if a buyer or inspector conducts a thorough examination of the property, they may not notice the defect because it is hidden, concealed, or not readily apparent. Examples of latent defects include issues like structural problems, mold behind walls, or plumbing issues that are not visible. The concept of latent defects is significant in real estate transactions because it can affect the value of the property and the responsibilities of the seller and buyer. It often leads to legal implications concerning disclosures and warranties. In contrast, a visible flaw, minor repairs, or cosmetic updates are either easily seen or not significant enough to classify as defects, thus they do not fit the definition of a latent defect.

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