Maine Real Estate License Practice Exam

In Maine, property disclosure must be:

1. Signed by the Seller

2. Signed by the licensees to the transaction

3. Available on MLS

4. In writing

The correct answer is: In writing

The requirement for property disclosure in Maine is that it must be in writing. This is important because a written disclosure ensures that all material facts about the property are clearly communicated to potential buyers. By having a written document, sellers are held accountable for the information they provide, and it provides a formal record that can be referenced if any disputes arise later. Written disclosures typically include details about the condition of the property, known issues, and any repairs that have been made, which are critical for the buyer's informed decision-making. Other options, such as being signed by the seller or licensees, may be standard practices, but they are not essential legal requirements for the disclosure to be valid in Maine. Similarly, while making disclosures available on the MLS (Multiple Listing Service) can be a useful practice for transparency, it is not a mandated requirement under Maine law. Therefore, the key point is that the disclosure itself must be in writing to meet legal obligations.