Idaho Real Estate Practice Exam

What does Idaho law primarily require from sellers regarding property conditions?

1. Nothing, it's voluntary

2. Complete disclosure of any known issues

3. Only disclose issues if the buyer asks

4. Disclose issues not covered by insurance

The correct answer is: Complete disclosure of any known issues

Idaho law requires sellers to provide complete disclosure of any known issues with the property to prospective buyers. This means that if a seller is aware of significant defects or problems that could affect the value or livability of the property, they are obligated to inform potential buyers. This requirement helps ensure that buyers are fully informed about the property’s condition before making a purchase decision, thereby protecting consumers from unexpected repairs or complications after the sale. The emphasis on complete disclosure reflects the principles of transparency and fairness in real estate transactions. By mandating that sellers reveal any known issues, the law aims to foster trust between the parties involved and reduce the likelihood of disputes arising after the sale. This legal obligation does not depend on whether potential buyers inquire about specific issues, reinforcing the seller's responsibility in the disclosure process.