Recently, a federal district court held a Kansas real estate licensee acting as a buyer’s agent was liable for a failure to disclose a material defect when the agent had actual knowledge of the seller’s pre-existing legal obligation to maintain a dam on the property and failed to disclose that information to the buyers.
As always, this is a good reminder that state law requires real estate licensees to disclose all material facts actually known by the licensees about the property, including any property conditions that will materially impact the buyer’s occupancy and use of the property.
Please click here for more information on this case.
