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Mandated DisclosuresRpoads_timing_scope_and_no_representationEASY

An office manager in Durham 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

C) The statute contains exceptions, but brokers should not casually assume a transfer is exempt from Chapter 47E without checking the law.

The statute contains exceptions, but brokers should not casually assume a transfer is exempt from Chapter 47E without checking the law.

Answer Options
A
Brokers may ignore Chapter 47E whenever the property is sold 'as is.'
B
Every estate sale is always treated the same as a standard listed sale for disclosure timing.
C
The statute contains exceptions, but brokers should not casually assume a transfer is exempt from Chapter 47E without checking the law.
D
Any sale by an investor is automatically exempt from RPOADS under current North Carolina rules

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Related Topics & Key Terms

Key Terms:

47ecore_rules_and_definitionsdifficulty_2exceptionsnc_residential_disclosure_requirementsnc_statenorth_carolinarpoads_timing_scope_and_no_representationscope

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An as-is clause in a real estate contract states that the buyer accepts the property in its current condition without requiring the seller to make any repairs. However, an as-is sale does NOT eliminate the seller's obligation to disclose known defects.

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