When a broker offers to buy a property if it doesn't sell in 90 days, what must the broker NOT do?

Prepare for the Hawaii Real Estate Salesperson Exam effectively. Study with our engaging quiz featuring flashcards and multiple-choice questions, complete with hints and detailed explanations. Get ready to ace your exam with confidence!

The broker must not agree to buy the property at the agreed price without ensuring that all necessary conditions and disclosures are met first. This action requires careful consideration of the terms and potential implications. If a broker commits to purchasing a property outright, they assume responsibility for the transaction and any associated risks.

In this scenario, prior to agreeing to purchase the property, the broker should focus on adequately marketing it and ensuring that both parties have clear understandings of the plan, including providing written details. This includes demonstrating financial capability to follow through with the purchase if necessary, as well as ensuring compliance with any special agreements. By not agreeing to buy at that point, the broker maintains flexibility and protects both themselves and the seller until all conditions are properly addressed.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy