A firm owner in Asheville is preparing an exam-prep note on RPOADS timing, scope, and the "No Representation" choice. Which statement best applies under current North Carolina law?
Correct Answer
A) 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
Radon disclosure involves informing buyers about the presence or potential presence of radon gas in a property. Radon is a naturally occurring radioactive gas that can accumulate in buildings and is the second leading cause of lung cancer.
Fair housing laws apply to a broad range of activities related to housing, including sale, rental, financing, and advertising.
A seller's disclosure statement is a form that sellers complete to inform buyers about the condition and history of the property, including known defects, past repairs, insurance claims, and environmental issues.
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