Housing and Community Development (HCD) Practice Exam

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Which item must be included in the disclosure statement when selling a Mh-Unit?

The condition of the electrical system
The age of the unit
Any known defects
The value appraisal of the unit

The correct answer is: Any known defects

The inclusion of any known defects in the disclosure statement when selling a manufactured housing unit (Mh-Unit) is crucial because it directly relates to consumer protection and transparency in real estate transactions. Sellers are legally obligated to disclose material facts about the property that could affect the buyer's decision. Known defects could involve structural issues, plumbing problems, or any other aspect that would potentially impact the safety or value of the unit. By making these defects known, sellers help buyers make informed decisions and avoid future disputes over undisclosed issues. This practice not only supports fair trading but also fosters trust in the housing market. Other items, while important in their own right, do not carry the same legal imperative with regard to consumer protection as the disclosure of known defects does.