A closing-file reviewer in Raleigh is sorting out a file issue involving buyer agency agreements and the written-agreement deadline. Which statement best applies under current North Carolina law?
Correct Answer
A) The buyer agency writing deadline is triggered no later than the time one of the parties makes an offer to purchase, sell, rent, lease, or exchange real estate.
The buyer agency writing deadline is triggered no later than the time one of the parties makes an offer to purchase, sell, rent, lease, or exchange real estate.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
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