Tennessee Real Estate Practice Exam

Is it true that a licensee must inform buyers about the availability of a septic system inspection letter for a fee?

1. True

2. False

3. Only if asked by the buyer

4. Only for rural properties

The correct answer is: True

A licensee is indeed required to inform buyers about the availability of a septic system inspection letter for a fee. This obligation is part of the duty to disclose relevant property information, ensuring that buyers are fully informed about the conditions of the property they are considering purchasing. A septic system inspection letter verifies that the septic system is functioning properly and meets current standards, which is particularly important for rural properties where such systems are common. In transactions involving properties with septic systems, the buyers need to have access to all pertinent details, including the option to inspect the system to avoid costly issues in the future. Not informing buyers about this could lead to legal ramifications and diminish trust between the parties involved. Hence, the requirement to inform buyers about the availability of this inspection letter is essential in helping them make informed decisions about their real estate purchases.