Manufactured Housing Practice Test

Who must use disclosure forms for all real homes listed and/or sold?

1. Real estate agents

2. Manufactured home dealers and salespersons

3. Neither A or B

4. Both A and B

The correct answer is: Both A and B

Both real estate agents and manufactured home dealers and salespersons are required to use disclosure forms for all real homes listed or sold. This requirement ensures transparency in the real estate transaction process, helping to inform buyers of any known issues or conditions affecting the property. Real estate agents are typically mandated by state laws to provide a disclosure statement that outlines the physical condition of the property, history of ownership, and any relevant details that could influence a buyer's decision. Similarly, manufactured home dealers and salespersons are also accountable for disclosing significant information about the homes they sell, which may include aspects related to the home's construction, safety, and compliance with regulations. The use of disclosure forms not only protects consumers by providing them with essential information but also serves as a legal safeguard for agents and dealers, reducing the risk of future disputes. Thus, the requirement for both parties to utilize these forms underscores the importance of ethical practices and consumer protection in real estate transactions.