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Scenario 2: Boundary pegs Jessica Knight is a licensed Real Estate salesperson. She is representing a seller, John Perez, in the sale of his property.
Scenario 2: Boundary pegs Jessica Knight is a licensed Real Estate salesperson. She is representing a seller, John Perez, in the sale of his property. The property has a house with a large back yard and a fence that runs along the boundary line. Jessica notices that some of the boundary pegs are missing, making it difficult to determine where the exact boundary line is. She is wondering whether she should disclose this to potential buyers and what advice she should give them regarding verifying the boundary line. Answer the following questions based on the scenario. a. What are boundary pegs and why are they important in the sale of a property? b. What is the disclosure obligation of a Real Estate salesperson regarding boundary pegs? What Rules apply? c. What are the potential consequences for Jessica if she doesn't disclose the information or gives incorrect information or advice. Which legislation and what section(s) of the legislation would apply? d. If a buyer decides to get a surveyor to verify the boundary line, who is responsible for paying for the survey and how should this be disclosed to the buyer? (Word count guideline: 200 words)
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