PSI Broker Exam Prep: Property Condition and Disclosure. Questions and answers, graded A+

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PSI Broker Exam Prep: Property Condition and Disclosure. Questions and answers, graded A+ Home inspections Seller disclosures aren’t always accurate, and sellers might not be aware of all defe... cts. "_____" can help determine the true condition of a property. home inspection contingency A "_____" is one of the best ways to protect the buyer’s earnest money. Inspectors "_____" will seek to uncover any safety or health hazards on a property during a home inspection, as well as defects that could jeopardize a structure’s integrity, such as moisture or pest infestation. encroachment An "_____" occurs when someone illegally places an object or structure on another person’s property. All of the homes on Elm Street are currently on septic systems. However, the county plans to extend the sewer lines to Elm Street within the next two years. What’s the biggest reason why it’s important for your buyers to know this? The county will likely impose an installation fee on Elm Street residents to cover the costs. When a buyer is represented by a licensee, who is responsible for following up on issues identified in the inspection report to ensure that they are addressed? The buyer’s agent Wendell just listed Barb’s home. Barb told him that there weren’t any easements on the property, and Wendell hasn’t seen a copy of the survey. What is Wendell’s responsibility relative to the disclosure of any easements? He only needs to disclose easements if they’re known. Which one of the following could be a clue that a property was formerly a waste disposal site? Soft spots, mounds, and discolored soil What hazard do mining activities, landfills, or agricultural pesticides contribute to? Groundwater contamination Your buyers love the 1891 Victorian they have under contract, but they want to get both the water and the paint tested as soon as possible. What are they testing for in both water and paint? Lead Seth is a licensee representing seller Dora. Which of these items is Seth required to disclose to prospective buyers about the property? Dora doesn’t use the back door because the steps leading to the yard are rotted. What information about a property is the licensee required to disclose to potential buyers? Any material, adverse information that the licensee has actual knowledge of concerning the physical condition of the property easements The property’s deed and title history should list known "_____". Subdivision maps may also show known "_____". enroachments intrusion on a person's territory, rights Radon occurs naturally in the environment and can be found in soil and well water Asbestos a fibrous material that becomes dangerous when it deteriorates and becomes friable (easily crumbled) was used in many materials before the 1970s because of its fire-retardant qualities. Inhaled particles can damage the lungs over time Mold growth is promoted by excessive moisture and lack of air circulation Lead can be found in paint, plumbing, dust, soil, and drinking water Carbon Monoxide (CO) A colorless, odorless gas that occurs as a by-product of fuel combustion that may result in death in poorly ventilated areas. Polychlorinated biphenyls (PCBs) PCBs are a medium used for cooling and insulation in electronic transformers. They've been banned, but are still found in water, soil, trees, birds, and fish Electromagnetic fields (EMFs) High-frequency radio waves in which the magne [Show More]

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