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Question 1 of 8:
The Legislature made changes to the law regulating the Seller’s Disclosure Notice regarding flooding, including whether the seller has ever:CorrectIncorrect
Question 2 of 8:
The Legislature made changes to the law regulating the Seller’s Disclosure Notice regarding flooding, including whether the seller’s property is located wholly or partly in a:CorrectIncorrect
Question 3 of 8:
What is the minimum acceptable seller’s disclosure required by law?CorrectIncorrect
Question 4 of 8:
It is a violation of what act if the seller withholds material
information concerning the property in an effort to
induce the buyer to buy the house.CorrectIncorrect
Question 5 of 8:
Texas Property Code §5.008 outlines how. The statute, which is intended to be a minimum requirement…CorrectIncorrect
Question 6 of 8:
Aflalo v. Harris – A Civil Case in Dallas County
Aflalo sued Harris for breach of contract, alleging Harris untimely terminated a contract. Harris (buyer) entered into a One to Four Family Contract with Aflalo (Seller) for $1,450,000 with $10,000 in earnest money, executed on November 20, 2015, with closing scheduled for December 18, 2015.
The contract provided for the seller to provide a seller’s disclosure notice within 3 days of the effective date. On November 20th, the seller provided the trade association seller’s disclosure document to the buyer and answered “yes” my property is in a floodway. In addition, the seller wrote in “I have flood insurance, my lender told me it was recently added to a flood area”. The seller did not provide an additional document with more information regarding the flood area that the seller’s disclosure notice used required.
On November 24th (one day after the 3 day period), the buyer’s agent requested this missing attachment form from the seller’s agent. The seller did not respond. On the day before closing, Harris gave notice they were terminating the contract. The seller relisted his property and made a demand to Harris to perform according to the contract.
Three weeks later, Aflalo sued Harris for breach of contract seeking specific performance. The seller said he timely provided the seller’s disclosure notice and the buyer could have backed out timely, however waited until the day before closing. Harris filed a counter claim for declaratory judgment saying Aflalo failed to provide the notice since the additional document required by the seller’s disclosure document used by Aflalo was not provided.
Following a bench trial, the court awarded Harris $140,000 in attorney fees. Aflalo appealed. The appellate court reversed the trial court decision in favor of Aflalo. Harris has appealed to the Texas Supreme Court.
Note: the seller has sued the listing broker and that case is on hold while this case is put forward. As of June 2019, this case is ongoing.
What Seller’s Disclosure notice should have been used? What Documents were missing? How would you have approached this challenge?
Grading can be reviewed and adjusted.Grading can be reviewed and adjusted.
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Question 7 of 8:
Disclosing defects of a property is required in all real estate transactions. Doing so using the Seller’s Disclosure Notice, however, is only required when transferring residential real property with only one dwelling unit except:
Check ALL that apply.CorrectIncorrect
Question 8 of 8:
_______________________________ require(s) “a real estate broker or sales agent …to exercise integrity in the discharge of the license holder’s responsibilities, including employment of prudence and caution so as to avoid misrepresentation, in any wise, by acts of commission or omission.” ( Choose all that apply)CorrectIncorrect