California Real Estate Practice Exam

Who has the primary obligation of completing the Real Estate Disclosure Statement?

1. The broker

2. The owner

3. The buyer

4. The inspector

The correct answer is: The owner

The owner is responsible for completing the Real Estate Disclosure Statement, as they are the one with the most knowledge about the property being sold. The broker, on the other hand, is responsible for ensuring that all necessary documents are obtained, but the completion of the disclosure statement falls on the owner. The buyer is not responsible for completing the disclosure statement, though they should thoroughly review it before making any final decisions. The inspector also does not have the primary obligation of completing the statement, as their role is to inspect the property and provide information, but not necessarily fill out any documents. Therefore, the owner is the best choice for completing the Real Estate Disclosure Statement.