A listing broker in Asheville is updating the policy manual on RPOADS timing, scope, and the "No Representation" choice. Which statement best applies under current North Carolina law?
Correct Answer
C) If RPOADS is required, the safer exam answer is that it should be delivered before the buyer's first offer is presented rather than after the parties are already under contract.
If RPOADS is required, the safer exam answer is that it should be delivered before the buyer's first offer is presented rather than after the parties are already under contract.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Death on property disclosure addresses whether sellers must inform buyers about deaths that occurred on the property, including natural deaths, suicides, and murders. Requirements vary significantly by state.
Environmental hazards disclosure involves informing buyers about environmental contamination or hazards affecting or potentially affecting a property, including underground storage tanks, contaminated soil, hazardous waste, and proximity to Superfund sites.
Flood zone disclosure requires informing buyers whether a property is located in a designated flood zone as mapped by FEMA. Properties in high-risk flood zones may require mandatory flood insurance.
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