A listing broker in Apex 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) 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.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
HOA disclosure requires informing buyers about the existence, rules, fees, financial health, and restrictions of a homeowners association governing the property. This information helps buyers understand their obligations before purchase.
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."
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