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Mandated DisclosuresRpoads_timing_scope_and_no_representationMEDIUM

A Fayetteville broker is sorting out a file issue involving RPOADS timing, scope, and the "No Representation" choice. Which statement best applies under current North Carolina law?

Correct Answer

B) Even when a seller selects 'No Representation,' the form still serves a disclosure function by telling the buyer that the seller is not making representations on those items.

Even when a seller selects 'No Representation,' the form still serves a disclosure function by telling the buyer that the seller is not making representations on those items.

Answer Options
A
'No Representation' means the form may be left blank and unsigned under current North Carolina rules
B
Even when a seller selects 'No Representation,' the form still serves a disclosure function by telling the buyer that the seller is not making representations on those items.
C
'No Representation' means the buyer cannot inspect the property under current North Carolina rules
D
'No Representation' converts the transaction to a commercial sale under current North Carolina rules

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Related Topics & Key Terms

Key Terms:

core_rules_and_definitionsdifficulty_3form_usagenc_residential_disclosure_requirementsnc_stateno_representationnorth_carolinarpoadsrpoads_timing_scope_and_no_representation

Related Concepts

The Lead-Based Paint Disclosure is a federally mandated disclosure required for all residential properties built before 1978. Sellers and landlords must disclose known lead-based paint hazards and provide the EPA pamphlet "Protect Your Family From Lead in Your Home."

A material defect is a condition that significantly affects the value, desirability, or safety of a property and that would likely influence a reasonable buyer's decision to purchase or the price they would pay.

Megan's Law requires states to make information about registered sex offenders available to the public. Some states require real estate agents to inform buyers about the availability of sex offender registries.

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