E. DISCLOSURE: "SHOULD HAVE KNOWN" - DUTY TO INVESTIGATE
In this section, we will explore the duty to investigate and disclose material facts that licensees know or should know. This is critical for ensuring transparency and protecting client interests. Please briefly review the corresponding documents to grasp the extent and limitations of this duty.
Summary:
Licensees have a duty to investigate and disclose material and relevant facts about the property and the transaction. This duty arises not only from what the licensee knows but also from what they should know through reasonable investigation. Licensees must investigate any information that directly impacts the property, any volunteered or claimed expertise, any legally required disclosures, and any contractual obligations to investigate. The level of investigation should be reasonable and thorough enough to identify potential issues affecting the property or transaction.