Class c license test illinois
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Setting an appointment to view property, Responding to questions of consumers walking into a licensee's office concerning Brokerage services offered or particular Stigmatized properties are NOT REQUIRED to be disclosed by seller's brokers unless they have the seller's permission.Ī licensee representing a client in a real estate transaction may provide assistance to a customer by performing ministerial acts. Honesty, disclosure of all known latent material defects to the property and shall not negligently or knowingly give them false information.ĭisclosure of all KNOWN LATENT MATERIAL defects. REMEMBER - It is a seller's obligation to provide the Residential Property Disclosure Form BUT if the sellers hired the listing broker to represent them the listing broker should make sure the buyers receive the Residential Property Disclosure Form. The right to terminate the contract, NO LONGER EXISTS AFTER the conveyance of the property. A supplement to this disclosure document, the prospective Buyer SHALL NOT HAVE THE RIGHT TO TERMINATE unless the material defect results from an error, inaccuracy, or omission of which the Seller had actual knowledge at the time the prior disclosure document was completed and signed by the Seller. The Residential Real Property Disclosure Report AFTER acceptance of the contract then the Buyer may, within THREE BUSINESS DAYS after receipt of that Report terminate the contract WITHOUT any liability or recourse except for the return to prospective buyers of all earnest money deposits or down payments paid by prospective Buyer's in the transaction. The time the buyer and seller sign the contract.