A real estate broker takes an exclusive right to sell listing from a seller for $400,000. A buyer makes an offer for $375,000 which the seller accepts. Before the sale closes, the buyer discovers that the broker misrepresented the square footage of the home. Based on this information, the purchase contract is probably:

Question

Quizplus · Accepted Answer

The purchase contract is likely voidable because the misrepresentation of square footage could be considered a breach of contract or fraud, allowing the buyer to choose whether to proceed with the sale or cancel the contract. The contract would only be considered void if there was a legal issue with the sale, such as it being against the law to sell the property for that price.

A Real Estate Broker Takes an Exclusive Right to Sell