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AgencyBuyer_agency_written_agreement_by_offerMEDIUM

A training instructor in Boone is preparing an exam-prep note on buyer agency agreements and the written-agreement deadline. Which statement best applies under current North Carolina law?

Correct Answer

B) A North Carolina buyer agency agreement should be signed before or at the time the offer is made, not after the buyer has already become contractually bound.

A North Carolina buyer agency agreement should be signed before or at the time the offer is made, not after the buyer has already become contractually bound.

Answer Options
A
The agreement can wait until settlement because agency arose orally under current North Carolina rules
B
A North Carolina buyer agency agreement should be signed before or at the time the offer is made, not after the buyer has already become contractually bound.
C
A broker may create the written agreement after acceptance and backdate it under current North Carolina rules
D
The buyer agent needs no writing if the listing firm agrees to pay compensation.

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Related Topics & Key Terms

Key Terms:

buyer_agency_written_agreement_by_offercompliancedifficulty_3nc_agency_brokerage_relationshipsnc_statenorth_carolinatime_of_offertiming_forms_exceptions_and_authoritywritten_agreement
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