Other NC Laws And Practices
Questions With Accurate Answers
"Working with Real Estate Agents" brochure correct answer a brochure to be
presented to consumer at first substantial contact explaining agency options
(buyer/seller)
ask consumer to sign and agent must keep on file for at least 3 years
if FSC is over phone, mail to consumer within 3 days
DOES NOT CREATE AGENCY (not a contract) - signature only acknowledges receipt
A North Carolina agent is working with seller clients. Who is responsible for
verifying and accurately reporting the square footage of the sellers' property?
correct answer the agent
A North Carolina tenant moved out of a rental house on March 1. How long does
her landlord have to refund the security deposit and provide an itemized list of
deductions? correct answer 30 days
Actual eviction correct answer the legal removal of a tenant
it is illegal for a landlord to evict by removing belongings or changing locks
UNLESS they have a court order (if landlord does this illegally, tenant may recover
TRIPLE damages)
, Are oral agency agreements allowed in NC? correct answer an express oral
buyer/tenant agency agreement is permitted from the start of the relationship, as
long as the agreement is put in writing AT THE LATEST by the time any party to
the transaction makes an offer
At what point will North Carolina buyer Spencer's title to his new property change
hands and become his? correct answer When the deed is delivered to Spencer
Because Joy, a protected tenant, lives with her abuser, which of the following is
true of her situation? correct answer She may give the landlord oral or written
notice she's a victim of domestic violence, request the locks be changed, and
provide landlord with court order ordering the abuser to stay away.
Buyer agency agreement vs. listing agreement correct answer buyer agency
agreements may begin with an oral agreement
listing agreements MUST be WRITTEN from the beginning of the relationship
Constructive eviction correct answer Actions of a landlord that so materially
disturb or impair a tenant's enjoyment of the leased premises that the tenant is
effectively forced to move out and terminate the lease without liability for any
further rent.
designated agency correct answer An agency relationship where a licensee is
assigned by a broker to represent a buyer or seller in a transaction, usually in an
in-company dual agency situation.
Dual agency correct answer A situation in which a person or firm has an agency
and fiduciary relationship to both parties—seller and buyer—of a transaction.
Questions With Accurate Answers
"Working with Real Estate Agents" brochure correct answer a brochure to be
presented to consumer at first substantial contact explaining agency options
(buyer/seller)
ask consumer to sign and agent must keep on file for at least 3 years
if FSC is over phone, mail to consumer within 3 days
DOES NOT CREATE AGENCY (not a contract) - signature only acknowledges receipt
A North Carolina agent is working with seller clients. Who is responsible for
verifying and accurately reporting the square footage of the sellers' property?
correct answer the agent
A North Carolina tenant moved out of a rental house on March 1. How long does
her landlord have to refund the security deposit and provide an itemized list of
deductions? correct answer 30 days
Actual eviction correct answer the legal removal of a tenant
it is illegal for a landlord to evict by removing belongings or changing locks
UNLESS they have a court order (if landlord does this illegally, tenant may recover
TRIPLE damages)
, Are oral agency agreements allowed in NC? correct answer an express oral
buyer/tenant agency agreement is permitted from the start of the relationship, as
long as the agreement is put in writing AT THE LATEST by the time any party to
the transaction makes an offer
At what point will North Carolina buyer Spencer's title to his new property change
hands and become his? correct answer When the deed is delivered to Spencer
Because Joy, a protected tenant, lives with her abuser, which of the following is
true of her situation? correct answer She may give the landlord oral or written
notice she's a victim of domestic violence, request the locks be changed, and
provide landlord with court order ordering the abuser to stay away.
Buyer agency agreement vs. listing agreement correct answer buyer agency
agreements may begin with an oral agreement
listing agreements MUST be WRITTEN from the beginning of the relationship
Constructive eviction correct answer Actions of a landlord that so materially
disturb or impair a tenant's enjoyment of the leased premises that the tenant is
effectively forced to move out and terminate the lease without liability for any
further rent.
designated agency correct answer An agency relationship where a licensee is
assigned by a broker to represent a buyer or seller in a transaction, usually in an
in-company dual agency situation.
Dual agency correct answer A situation in which a person or firm has an agency
and fiduciary relationship to both parties—seller and buyer—of a transaction.
