• Law
College

If a sign advertising property has the following information listed on it, what is illegal?

"For sale by owner - $150,000 $1200 monthly PITI 365-7632 - Ed's Realty"

A. Listing the property as "For sale by owner"
B. Displaying the property's price
C. Including the monthly PITI (Principal, Interest, Taxes, Insurance)
D. Providing the contact number for Ed's Realty

Answer :

Final answer:

Option A, listing the property as 'For sale by owner' while also mentioning Ed's Realty, could be considered illegal or misleading because it implies an owner sale but indicates the involvement of a real estate company.Hence option D is correct.

Explanation:

If a property sign advertises the property as 'For sale by owner' but also lists Ed's Realty, this could be considered illegal or at least misleading. This is because the phrase 'for sale by owner' signifies that the property is being sold directly by the owner with no involvement from a real estate agent or company.

However, the advertisement also mentions Ed's Realty, which is a real estate brokerage, implying that a real estate agent is involved in the sale which contradicts the 'for sale by owner' claim.

Therefore, option A, listing the property as 'For sale by owner', is potentially illegal if Ed's Realty is representing the seller. The other options, such as displaying the property's price, including the monthly PITI (Principal, Interest, Taxes, Insurance), and providing a contact number, are standard practices in real estate advertisements and are not typically considered illegal.