Leasing License Practice Exam

When are sellers required to repair items noted on the Residential Real Property Disclosure form?

1. Immediately after listing the property

2. During the inspection process

3. Only if agreed upon in negotiations with the buyer

4. At any time before closing the sale

The correct answer is: Only if agreed upon in negotiations with the buyer

The requirement for sellers to repair items noted on the Residential Real Property Disclosure form hinges on the negotiations between the seller and the buyer. The seller is not obligated to make repairs simply because an issue is identified on the disclosure form; rather, any repairs that the seller agrees to undertake typically emerge as a result of discussions and concessions made during the negotiation process with the buyer. In practice, buyers may request repairs based on the findings in the disclosure form, but it's ultimately up to the seller to decide whether to agree to those requests. If the seller and buyer come to a mutual agreement—whether that involves the seller making specific repairs, providing financial concessions, or adjusting the sale price—then the seller must adhere to those terms agreed upon in negotiations. The other options suggest a requirement for immediate action or decisions without the context of buyer-seller negotiations, which does not accurately reflect how real estate transactions typically operate. This understanding reinforces the idea that responsibility for repairs is not solely based on the disclosure form but is also embedded in the negotiation dynamics of the real estate sale.